Thrive Wealth Management LLC Raises Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Thrive Wealth Management LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,592 shares of the company’s stock after purchasing an additional 164 shares during the quarter. Thrive Wealth Management LLC’s holdings in PepsiCo were worth $850,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Clear Investment Research LLC acquired a new stake in PepsiCo during the 4th quarter worth $25,000. Freedom Wealth Alliance LLC purchased a new stake in shares of PepsiCo in the 4th quarter valued at approximately $29,000. Silicon Valley Capital Partners acquired a new stake in shares of PepsiCo during the 4th quarter worth approximately $36,000. Carderock Capital Management Inc. purchased a new position in PepsiCo in the first quarter worth approximately $36,000. Finally, Kepos Capital LP acquired a new stake in PepsiCo during the fourth quarter worth $40,000. Institutional investors and hedge funds own 71.40% of the company’s stock.

PepsiCo Trading Down 0.3 %

Shares of PepsiCo stock opened at $179.38 on Tuesday. PepsiCo, Inc. has a 12-month low of $160.98 and a 12-month high of $196.88. The company has a current ratio of 0.84, a quick ratio of 0.64 and a debt-to-equity ratio of 2.02. The company has a fifty day simple moving average of $182.67 and a 200-day simple moving average of $184.61. The stock 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.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 13th. The company reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $0.13. The firm had revenue of $22.32 billion for the quarter, compared to the consensus estimate of $21.73 billion. PepsiCo had a net margin of 8.76% and a return on equity of 56.05%. The firm’s revenue was up 10.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.86 earnings per share. On average, equities analysts forecast that PepsiCo, Inc. will post 7.48 EPS for the current fiscal year.

PepsiCo Dividend Announcement

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

Analysts Set New Price Targets

PEP has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of PepsiCo from $193.00 to $195.00 in a report on Friday, July 14th. Morgan Stanley downgraded shares of PepsiCo from an “overweight” rating to an “equal weight” rating and set a $210.00 target price for the company. in a report on Monday, July 17th. Evercore ISI raised their price target on PepsiCo from $190.00 to $195.00 in a research report on Friday, July 14th. Argus boosted their price objective on PepsiCo from $206.00 to $212.00 in a report on Friday, July 14th. Finally, Wedbush boosted their price target on shares of PepsiCo from $200.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average target price of $192.00.

About PepsiCo

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.