Hazlett Burt & Watson Inc. Grows Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Hazlett Burt & Watson Inc. increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 19.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,777 shares of the company’s stock after purchasing an additional 1,783 shares during the quarter. PepsiCo makes up approximately 0.9% of Hazlett Burt & Watson Inc.’s holdings, making the stock its 23rd largest holding. Hazlett Burt & Watson Inc.’s holdings in PepsiCo were worth $1,774,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Valued Wealth Advisors LLC lifted its position in PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares in the last quarter. POM Investment Strategies LLC boosted its holdings in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC purchased a new position in PepsiCo during the second quarter valued at $30,000. Fortis Group Advisors LLC increased its stake in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in PepsiCo during the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. BNP Paribas assumed coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. Jefferies Financial Group cut their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Bank of America lowered their target price on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. JPMorgan Chase & Co. cut their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Finally, TD Cowen cut their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Trading Down 0.2 %

Shares of PEP stock opened at $177.81 on Wednesday. The firm has a 50-day moving average price of $171.55 and a 200 day moving average price of $171.29. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $244.23 billion, a P/E ratio of 25.81, a P/E/G ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41.

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

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.05%. PepsiCo’s payout ratio is presently 78.66%.

PepsiCo 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.