Evelyn Partners Investment Management Services Ltd Boosts Holdings in PepsiCo, Inc. $PEP

Evelyn Partners Investment Management Services Ltd boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 197.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 64,753 shares of the company’s stock after purchasing an additional 43,008 shares during the quarter. PepsiCo makes up approximately 0.9% of Evelyn Partners Investment Management Services Ltd’s portfolio, making the stock its 27th largest holding. Evelyn Partners Investment Management Services Ltd’s holdings in PepsiCo were worth $9,019,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Nova Wealth Management Inc. purchased a new position in PepsiCo during the first quarter valued at $25,000. Legend Financial Advisors Inc. purchased a new position in shares of PepsiCo during the second quarter valued at about $29,000. Frazier Financial Advisors LLC increased its holdings in shares of PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after purchasing an additional 122 shares during the last quarter. RMG Wealth Management LLC purchased a new stake in shares of PepsiCo in the second quarter worth about $45,000. Finally, Investment Research & Advisory Group Inc. boosted its stake in PepsiCo by 263.6% during the second quarter. Investment Research & Advisory Group Inc. now owns 320 shares of the company’s stock valued at $42,000 after buying an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the topic of several recent research reports. The Goldman Sachs Group upped their price objective on PepsiCo from $165.00 to $167.00 and gave the stock a “buy” rating in a report on Friday, October 10th. Citigroup lowered their price objective on shares of PepsiCo from $168.00 to $165.00 and set a “buy” rating for the company in a research report on Thursday, September 25th. Royal Bank Of Canada dropped their price objective on shares of PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research note on Monday, September 15th. Wells Fargo & Company lifted their price target on shares of PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research note on Friday, October 10th. Finally, Jefferies Financial Group increased their price objective on shares of PepsiCo from $161.00 to $163.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. Seven investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $156.90.

PepsiCo Stock Performance

PepsiCo stock opened at $146.33 on Friday. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.72 and a current ratio of 0.91. The company has a 50 day moving average price of $145.37 and a 200-day moving average price of $140.46. The company has a market capitalization of $200.08 billion, a PE ratio of 27.82, a P/E/G ratio of 3.56 and a beta of 0.45. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $165.13.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Investors of record on Friday, December 5th will be given a dividend of $1.4225 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

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.