Luts & Greenleigh Group Inc. Buys Shares of 2,300 PepsiCo, Inc. (NASDAQ:PEP)

Luts & Greenleigh Group Inc. acquired a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,300 shares of the company’s stock, valued at approximately $379,000.

Other large investors have also made changes to their positions in the company. Flossbach Von Storch AG grew its stake in PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. PineStone Asset Management Inc. raised its position in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after purchasing an additional 1,523,631 shares during the period. Franklin Resources Inc. lifted its stake in PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after acquiring an additional 1,345,065 shares in the last quarter. Van ECK Associates Corp lifted its position in shares of PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares in the last quarter. Finally, Confluence Investment Management LLC purchased a new position in PepsiCo in the 1st quarter valued at approximately $166,243,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.1 %

Shares of NASDAQ:PEP opened at $177.21 on Tuesday. The company has a fifty day simple moving average of $172.67 and a 200 day simple moving average of $171.57. The firm has a market cap of $243.41 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating 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 business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the prior year, the firm earned $2.09 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on PEP shares. Barclays boosted their price target on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Wells Fargo & Company cut their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. TD Cowen reduced their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. BNP Paribas assumed coverage on PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. Finally, Jefferies Financial Group lowered their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target 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.