Ledge Wealth Management Inc. Has $2.43 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Ledge Wealth Management Inc. lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 9.6% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,141 shares of the company’s stock after selling 1,400 shares during the quarter. PepsiCo makes up 1.2% of Ledge Wealth Management Inc.’s holdings, making the stock its 23rd largest position. Ledge Wealth Management Inc.’s holdings in PepsiCo were worth $2,434,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC increased its stake in shares of PepsiCo by 95,514.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock worth $7,746,023,000 after purchasing an additional 42,831,405 shares during the last quarter. Morgan Stanley lifted its position in shares of PepsiCo by 21.0% in the fourth quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock worth $4,827,240,000 after buying an additional 4,629,947 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of PepsiCo by 1.9% during the 1st quarter. Geode Capital Management LLC now owns 26,126,523 shares of the company’s stock worth $4,751,555,000 after acquiring an additional 489,343 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of PepsiCo by 5.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 17,880,236 shares of the company’s stock valued at $3,259,567,000 after acquiring an additional 872,064 shares in the last quarter. Finally, Norges Bank acquired a new stake in PepsiCo in the 4th quarter worth approximately $2,519,707,000. Institutional investors and hedge funds own 71.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PEP. Morgan Stanley lowered shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $210.00 price target on the stock. in a research report on Monday, July 17th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Wedbush lifted their price objective on PepsiCo from $200.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. Deutsche Bank Aktiengesellschaft increased their target price on PepsiCo from $193.00 to $195.00 in a research note on Friday, July 14th. Finally, Barclays cut their price target on PepsiCo from $206.00 to $198.00 in a report on Monday, July 10th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus price target of $192.00.

PepsiCo Stock Down 0.3 %

PEP opened at $179.38 on Tuesday. The firm has a market cap of $246.93 billion, a price-to-earnings ratio of 31.42, a PEG ratio of 2.95 and a beta of 0.54. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.64 and a current ratio of 0.84. The firm’s 50-day simple moving average is $182.67 and its 200-day simple moving average is $184.61. PepsiCo, Inc. has a twelve month low of $160.98 and a twelve month high of $196.88.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 13th. The company reported $2.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.13. The firm had revenue of $22.32 billion during the quarter, compared to analysts’ expectations of $21.73 billion. PepsiCo had a return on equity of 56.05% and a net margin of 8.76%. The business’s revenue was up 10.4% on a year-over-year basis. During the same period last year, the firm posted $1.86 EPS. Equities research analysts anticipate that PepsiCo, Inc. will post 7.48 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Thursday, August 31st. PepsiCo’s dividend payout ratio is presently 88.62%.

PepsiCo Company Profile

PepsiCo, Inc manufactures, markets, distributes, and sells 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.