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

Parthenon LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,698 shares of the company’s stock after buying an additional 291 shares during the period. PepsiCo comprises 2.1% of Parthenon LLC’s investment portfolio, making the stock its 14th biggest position. Parthenon LLC’s holdings in PepsiCo were worth $16,773,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. D Orazio & Associates Inc. increased its stake in shares of PepsiCo by 15.7% during the second quarter. D Orazio & Associates Inc. now owns 4,193 shares of the company’s stock worth $691,000 after purchasing an additional 568 shares in the last quarter. Main Street Financial Solutions LLC boosted its position in PepsiCo by 3.7% during the second quarter. Main Street Financial Solutions LLC now owns 10,328 shares of the company’s stock worth $1,703,000 after acquiring an additional 371 shares during the last quarter. Vest Financial LLC boosted its position in PepsiCo by 15.7% during the second quarter. Vest Financial LLC now owns 262,096 shares of the company’s stock worth $43,227,000 after acquiring an additional 35,506 shares during the last quarter. Trueblood Wealth Management LLC boosted its position in PepsiCo by 1.5% during the second quarter. Trueblood Wealth Management LLC now owns 5,594 shares of the company’s stock worth $923,000 after acquiring an additional 82 shares during the last quarter. Finally, Wambolt & Associates LLC boosted its position in PepsiCo by 6.1% during the second quarter. Wambolt & Associates LLC now owns 20,541 shares of the company’s stock worth $3,346,000 after acquiring an additional 1,178 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $177.25 on Friday. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The firm’s 50 day moving average price is $172.11 and its 200 day moving average price is $171.37. The company has a market cap of $243.47 billion, a P/E ratio of 25.73, a PEG ratio of 3.03 and a beta of 0.53. 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 announced its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate 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 prior year, the firm earned $2.09 EPS. The firm’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

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

Analysts Set New Price Targets

PEP has been the topic of a number of recent research reports. Wells Fargo & Company lowered their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Bank of America lowered their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Royal Bank of Canada decreased their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. TD Cowen decreased their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Finally, BNP Paribas initiated coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Moderate Buy” and a consensus price target 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.