Cornerstone Wealth Group LLC Increases Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Cornerstone Wealth Group LLC raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 71.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 69,394 shares of the company’s stock after buying an additional 28,959 shares during the period. PepsiCo comprises about 1.0% of Cornerstone Wealth Group LLC’s investment portfolio, making the stock its 23rd biggest holding. Cornerstone Wealth Group LLC’s holdings in PepsiCo were worth $11,445,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PEP. Capital Advisors Ltd. LLC increased its position in shares of PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares during the period. V Square Quantitative Management LLC increased its position in shares of PepsiCo by 1.1% during the first quarter. V Square Quantitative Management LLC now owns 16,400 shares of the company’s stock valued at $2,870,000 after buying an additional 180 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of PepsiCo by 4.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 1,002,267 shares of the company’s stock valued at $175,407,000 after acquiring an additional 43,296 shares during the last quarter. Norden Group LLC grew its stake in shares of PepsiCo by 3,345.6% in the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after acquiring an additional 174,171 shares during the period. Finally, Fulton Breakefield Broenniman LLC boosted its holdings in PepsiCo by 21.5% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 93,099 shares of the company’s stock worth $15,812,000 after purchasing an additional 16,494 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.1 %

Shares of NASDAQ PEP traded up $0.13 during midday trading on Friday, hitting $175.87. The company’s stock had a trading volume of 5,030,983 shares, compared to its average volume of 5,466,083. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The firm has a market cap of $241.57 billion, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 2.98 and a beta of 0.52. The business’s 50 day moving average is $168.94 and its two-hundred day moving average is $170.66. 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 (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. PepsiCo’s revenue was up .8% compared to the same quarter last year. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 3.08%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEP. StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Tuesday. TD Cowen cut their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. BNP Paribas initiated 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, JPMorgan Chase & Co. dropped their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus 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.