Legacy Capital Group California Inc. Has $224,000 Stake in PepsiCo, Inc. (NASDAQ:PEP)

Legacy Capital Group California Inc. grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 9.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,494 shares of the company’s stock after acquiring an additional 123 shares during the period. Legacy Capital Group California Inc.’s holdings in PepsiCo were worth $224,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Elite Financial Inc. bought a new stake in shares of PepsiCo during the first quarter worth approximately $28,000. Measured Risk Portfolios Inc. acquired a new position in PepsiCo in the fourth quarter valued at about $31,000. GKV Capital Management Co. Inc. bought a new stake in shares of PepsiCo in the 4th quarter valued at about $38,000. Bridge Generations Wealth Management LLC acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $38,000. Finally, Sunbeam Capital Management LLC bought a new stake in PepsiCo in the fourth quarter valued at approximately $47,000. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on PEP. Wells Fargo & Company upped their price objective on shares of PepsiCo from $140.00 to $154.00 and gave the company an “equal weight” rating in a research report on Friday, July 18th. Morgan Stanley lifted their price objective on PepsiCo from $153.00 to $165.00 and gave the company an “equal weight” rating in a report on Friday, July 18th. UBS Group lowered their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Citigroup upped their price target on shares of PepsiCo from $160.00 to $168.00 and gave the company a “buy” rating in a report on Friday, July 18th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating on the stock in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $158.73.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $140.80 on Thursday. The company has a debt-to-equity ratio of 2.12, a quick ratio of 0.60 and a current ratio of 0.78. The stock has a 50 day moving average price of $134.99 and a 200 day moving average price of $140.76. The stock has a market capitalization of $192.77 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 3.72 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $179.73.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating the consensus estimate of $2.03 by $0.09. The company had revenue of $22.73 billion during the quarter, compared to the consensus estimate of $22.28 billion. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.28 EPS. Analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo’s dividend payout ratio is presently 103.64%.

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.