Carmichael Hill & Associates Inc. Has $1.50 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Carmichael Hill & Associates Inc. boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 19.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,084 shares of the company’s stock after purchasing an additional 1,481 shares during the period. Carmichael Hill & Associates Inc.’s holdings in PepsiCo were worth $1,498,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of PEP. Valued Wealth Advisors LLC boosted its holdings in shares of PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after buying an additional 69 shares during the period. POM Investment Strategies LLC lifted its holdings in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo during the second quarter worth about $30,000. Fortis Group Advisors LLC raised its stake in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in PepsiCo in the 1st quarter valued at about $35,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Up 0.7 %

NASDAQ PEP traded up $1.17 during trading hours on Wednesday, hitting $178.71. The company’s stock had a trading volume of 1,578,171 shares, compared to its average volume of 5,439,699. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The company’s 50-day simple moving average is $170.22 and its two-hundred day simple moving average is $170.95. The company has a market capitalization of $245.69 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 2.99 and a beta of 0.52. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same period in the previous year, the firm earned $2.09 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. 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. Investors of record on Friday, September 6th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.03%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PEP shares. Wells Fargo & Company decreased their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Royal Bank of Canada decreased their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a research report on Friday, July 19th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo 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.