Folger Nolan Fleming Douglas Capital Management Inc. Acquires 7,165 Shares of PepsiCo, Inc. $PEP

Folger Nolan Fleming Douglas Capital Management Inc. raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 99,764 shares of the company’s stock after purchasing an additional 7,165 shares during the period. PepsiCo accounts for about 1.4% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 22nd largest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in PepsiCo were worth $15,492,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in PepsiCo by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company’s stock valued at $19,875,205,000 after buying an additional 1,612,652 shares during the period. State Street Corp lifted its holdings in PepsiCo by 1.8% during the third quarter. State Street Corp now owns 59,499,819 shares of the company’s stock worth $8,356,155,000 after buying an additional 1,079,970 shares during the period. Auto Owners Insurance Co lifted its holdings in PepsiCo by 14,857.8% during the fourth quarter. Auto Owners Insurance Co now owns 49,252,907 shares of the company’s stock worth $7,068,777,000 after buying an additional 48,923,629 shares during the period. Geode Capital Management LLC boosted its position in PepsiCo by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company’s stock valued at $4,814,835,000 after acquiring an additional 360,936 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of PepsiCo by 1.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,090,426 shares of the company’s stock valued at $4,031,646,000 after acquiring an additional 295,955 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on PEP. Sanford C. Bernstein assumed coverage on PepsiCo in a research note on Thursday, June 11th. They set a “market perform” rating and a $143.00 price objective for the company. BNP Paribas Exane lifted their target price on PepsiCo from $191.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. Jefferies Financial Group set a $162.00 target price on shares of PepsiCo in a report on Thursday. The Goldman Sachs Group increased their price target on shares of PepsiCo from $180.00 to $183.00 and gave the company a “buy” rating in a research report on Friday, April 17th. Finally, HSBC raised their price target on shares of PepsiCo from $175.00 to $176.00 and gave the company a “hold” rating in a report on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $166.85.

PepsiCo Stock Down 1.9%

PepsiCo stock opened at $138.68 on Tuesday. PepsiCo, Inc. has a 1-year low of $130.59 and a 1-year high of $171.48. The business has a fifty day moving average price of $148.00 and a 200-day moving average price of $152.02. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The stock has a market capitalization of $189.54 billion, a price-to-earnings ratio of 21.77, a PEG ratio of 2.85 and a beta of 0.35.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The company had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. During the same period in the prior year, the company posted $1.48 EPS. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 8.62 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 4.3%. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date is Friday, June 5th. PepsiCo’s dividend payout ratio is currently 92.94%.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.