Hobbs Group Advisors LLC Takes Position in PepsiCo, Inc. (NASDAQ:PEP)

Hobbs Group Advisors LLC acquired a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,272 shares of the company’s stock, valued at approximately $210,000.

A number of other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after buying an additional 578,083 shares during the last quarter. Norges Bank bought a new position in PepsiCo in the 4th quarter worth about $2,686,139,000. California Public Employees Retirement System grew its position in PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after purchasing an additional 1,470,064 shares during the last quarter. Franklin Resources Inc. grew its position in PepsiCo by 17.7% in the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in PepsiCo by 15.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after purchasing an additional 1,105,127 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of several recent analyst reports. StockNews.com cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. Bank of America decreased their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Morgan Stanley decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Finally, Jefferies Financial Group decreased their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $185.53.

PepsiCo Price Performance

PEP stock traded up $2.03 on Tuesday, hitting $175.85. 5,219,273 shares of the company’s stock traded hands, compared to its average volume of 5,478,396. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The stock has a market cap of $241.54 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 3.00 and a beta of 0.52. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41. The stock has a fifty day moving average of $168.24 and a 200-day moving average of $170.55.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. On average, analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.08%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

PepsiCo Company 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.