Patrick M Sweeney & Associates Inc. Acquires 173 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Patrick M Sweeney & Associates Inc. grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,229 shares of the company’s stock after purchasing an additional 173 shares during the period. PepsiCo makes up approximately 1.0% of Patrick M Sweeney & Associates Inc.’s investment portfolio, making the stock its 20th largest holding. Patrick M Sweeney & Associates Inc.’s holdings in PepsiCo were worth $1,185,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PEP. Norges Bank bought a new stake in PepsiCo in the 4th quarter valued at $2,686,139,000. Flossbach Von Storch AG lifted its position in PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares during the last quarter. PineStone Asset Management Inc. grew its holdings in PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock valued at $452,003,000 after buying an additional 1,523,631 shares in the last quarter. California Public Employees Retirement System increased its position in PepsiCo by 17.9% during the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after buying an additional 1,470,064 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after buying an additional 1,345,065 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 0.7 %

PEP traded down $1.19 during trading on Thursday, hitting $172.52. The company’s stock had a trading volume of 4,470,928 shares, compared to its average volume of 5,497,682. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month 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. The firm has a market capitalization of $236.97 billion, a P/E ratio of 25.07, a PEG ratio of 2.98 and a beta of 0.52. The stock’s fifty day moving average price is $168.07 and its 200-day moving average price is $170.47.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.09 EPS. Analysts anticipate 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. Investors of record on Friday, September 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Analysts Set New Price Targets

A number of research analysts recently commented on PEP shares. Wedbush restated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research report on Tuesday, April 23rd. Morgan Stanley lowered their price objective on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. BNP Paribas started coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Monday. Finally, JPMorgan Chase & Co. cut their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $185.53.

About PepsiCo

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.