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Wedmont Private Capital Has $1.38 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Wedmont Private Capital Has $1.38 Million Stake in PepsiCo, Inc. (NASDAQ:PEP) #Wedmont #Private #Capital #Million #Stake #PepsiCo #NASDAQPEP Welcome to Americanah Blog, here is the new story we have for you today:

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Wedmont Private Capital lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 50.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,290 shares of the company’s stock after purchasing an additional 2,785 shares during the quarter. Wedmont Private Capital’s holdings in PepsiCo were worth $1,382,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PEP. Cypress Wealth Services LLC grew its holdings in PepsiCo by 2.3% during the first quarter. Cypress Wealth Services LLC now owns 2,544 shares of the company’s stock worth $426,000 after buying an additional 58 shares in the last quarter. Retirement Planning Co of New England Inc. grew its holdings in PepsiCo by 0.9% during the first quarter. Retirement Planning Co of New England Inc. now owns 6,605 shares of the company’s stock worth $1,105,000 after buying an additional 59 shares in the last quarter. Cullen Capital Management LLC grew its holdings in PepsiCo by 0.7% during the first quarter. Cullen Capital Management LLC now owns 8,765 shares of the company’s stock worth $1,467,000 after buying an additional 60 shares in the last quarter. Guardian Wealth Advisors LLC grew its stake in PepsiCo by 1.5% in the 1st quarter. Guardian Wealth Advisors LLC now owns 4,084 shares of the company’s stock valued at $684,000 after purchasing an additional 61 shares during the period. Finally, Titleist Asset Management LTD. grew its stake in PepsiCo by 2.9% in the 1st quarter. Titleist Asset Management LTD. now owns 2,183 shares of the company’s stock valued at $365,000 after purchasing an additional 62 shares during the period. 71.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 6th. Wells Fargo & Company reduced their price objective on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a research note on Tuesday, June 21st. UBS Group reduced their price objective on PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Credit Suisse Group upped their price objective on PepsiCo from $168.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, July 13th. Finally, Barclays cut their price target on PepsiCo from $187.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Moderate Buy” and a consensus price target of $182.00.

PepsiCo Stock Performance

Shares of PEP opened at $168.73 on Tuesday. The stock’s 50-day simple moving average is $173.45 and its 200 day simple moving average is $170.50. The stock has a market capitalization of $232.83 billion, a price-to-earnings ratio of 25.41, a price-to-earnings-growth ratio of 3.27 and a beta of 0.55. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo, Inc. has a 52-week low of $149.48 and a 52-week high of $181.07.

PepsiCo (NASDAQ:PEPGet Rating) last issued its quarterly earnings data on Tuesday, July 12th. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.13. The business had revenue of $20.23 billion for the quarter, compared to analysts’ expectations of $19.51 billion. PepsiCo had a return on equity of 52.01% and a net margin of 11.28%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 EPS. Research analysts forecast that PepsiCo, Inc. will post 6.66 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.60 dividend on an annualized basis and a yield of 2.73%. PepsiCo’s dividend payout ratio (DPR) is 69.28%.

Insider Buying and Selling

In other PepsiCo news, CEO Steven C. Williams sold 1,753 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $171.18, for a total value of $300,078.54. Following the sale, the chief executive officer now owns 70,892 shares of the company’s stock, valued at approximately $12,135,292.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other PepsiCo news, CEO Steven C. Williams sold 1,753 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $171.18, for a total value of $300,078.54. Following the sale, the chief executive officer now owns 70,892 shares of the company’s stock, valued at approximately $12,135,292.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Ramkumar Krishnan sold 3,433 shares of the firm’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $174.83, for a total value of $600,191.39. Following the completion of the sale, the chief executive officer now directly owns 50,577 shares in the company, valued at approximately $8,842,376.91. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

PepsiCo Profile

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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.

Further Reading

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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