Clearstead Trust LLC Grows Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Clearstead Trust LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP) by 22.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,631 shares of the company’s stock after acquiring an additional 1,423 shares during the quarter. Clearstead Trust LLC’s holdings in PepsiCo were worth $1,259,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PEP. Gilbert & Cook Inc. increased its holdings in PepsiCo by 23.4% in the 4th quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock worth $1,014,000 after acquiring an additional 1,133 shares in the last quarter. Aveo Capital Partners LLC grew its holdings in PepsiCo by 4.4% during the 4th quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock valued at $931,000 after buying an additional 229 shares in the last quarter. 9258 Wealth Management LLC grew its holdings in PepsiCo by 56.0% during the 4th quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock valued at $1,407,000 after buying an additional 2,974 shares in the last quarter. Gryphon Financial Partners LLC grew its holdings in PepsiCo by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock valued at $1,357,000 after buying an additional 3,635 shares in the last quarter. Finally, TrinityPoint Wealth LLC grew its holdings in PepsiCo by 2.5% during the 4th quarter. TrinityPoint Wealth LLC now owns 13,353 shares of the company’s stock valued at $2,268,000 after buying an additional 332 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.1 %

Shares of PEP opened at $177.21 on Tuesday. The company has a market cap of $243.41 billion, a PE ratio of 25.72, a P/E/G ratio of 3.06 and a beta of 0.53. The business has a fifty day moving average of $172.67 and a 200 day moving average of $171.57. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

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

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Analyst Ratings Changes

PEP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Bank of America cut their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Wells Fargo & Company cut their price objective 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. Morgan Stanley cut their target price on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, BNP Paribas assumed coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, PepsiCo presently has a consensus rating of “Moderate Buy” and an average target price of $185.53.

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.