Garrison Asset Management LLC Purchases 87 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Garrison Asset Management LLC grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,236 shares of the company’s stock after acquiring an additional 87 shares during the period. PepsiCo comprises 1.8% of Garrison Asset Management LLC’s portfolio, making the stock its 18th largest position. Garrison Asset Management LLC’s holdings in PepsiCo were worth $3,502,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Diamond Hill Capital Management Inc. lifted its stake in PepsiCo by 5.0% in the second quarter. Diamond Hill Capital Management Inc. now owns 3,279,090 shares of the company’s stock worth $540,820,000 after acquiring an additional 155,889 shares during the period. Diversify Wealth Management LLC purchased a new stake in shares of PepsiCo in the 2nd quarter worth about $3,479,000. Hoge Financial Services LLC boosted its stake in shares of PepsiCo by 6.1% during the 2nd quarter. Hoge Financial Services LLC now owns 3,225 shares of the company’s stock valued at $532,000 after purchasing an additional 184 shares in the last quarter. Lyell Wealth Management LP raised its stake in PepsiCo by 8.3% in the second quarter. Lyell Wealth Management LP now owns 30,836 shares of the company’s stock worth $5,086,000 after buying an additional 2,364 shares in the last quarter. Finally, Guardian Wealth Management Inc. lifted its holdings in PepsiCo by 1.7% in the second quarter. Guardian Wealth Management Inc. now owns 15,067 shares of the company’s stock worth $2,485,000 after buying an additional 247 shares during the period. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Cowen decreased their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Royal Bank of Canada dropped their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Barclays increased their price target on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Finally, Wells Fargo & Company lowered their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Trading Up 0.1 %

PepsiCo stock opened at $177.36 on Friday. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The business’s fifty day moving average is $172.37 and its 200 day moving average is $171.45. The stock has a market capitalization of $243.62 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. During the same period in the previous year, the business posted $2.09 earnings per share. The business’s revenue for the quarter was up .8% on a year-over-year basis. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s payout ratio is currently 78.66%.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.