Wellington Capital Management Inc. Acquires New Holdings in PepsiCo, Inc. $PEP

by · The Cerbat Gem

Wellington Capital Management Inc. bought a new position in PepsiCo, Inc. (NASDAQ:PEP – Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,504 shares of the company’s stock, valued at approximately $990,000. PepsiCo accounts for 1.4% of Wellington Capital Management Inc.’s investment portfolio, making the stock its 17th largest holding.

Other large investors have also made changes to their positions in the company. Nova Wealth Management Inc. acquired a new position in PepsiCo in the first quarter valued at about $25,000. Legend Financial Advisors Inc. acquired a new position in shares of PepsiCo in the 2nd quarter valued at approximately $29,000. Vermillion & White Wealth Management Group LLC raised its holdings in PepsiCo by 107.1% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock worth $31,000 after buying an additional 121 shares during the period. Frazier Financial Advisors LLC lifted its stake in PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock valued at $35,000 after buying an additional 122 shares in the last quarter. Finally, Binnacle Investments Inc boosted its holdings in shares of PepsiCo by 33.2% in the second quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock valued at $38,000 after buying an additional 71 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PEP shares. Loop Capital set a $164.00 price objective on shares of PepsiCo in a research report on Thursday, October 23rd. The Goldman Sachs Group boosted their price target on PepsiCo from $165.00 to $167.00 and gave the company a “buy” rating in a report on Friday, October 10th. Barclays increased their price objective on PepsiCo from $142.00 to $144.00 and gave the stock an “equal weight” rating in a report on Wednesday. UBS Group restated a “buy” rating and issued a $172.00 target price on shares of PepsiCo in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised shares of PepsiCo from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $151.00 to $164.00 in a research note on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $158.35.

Check Out Our Latest Research Report on PEP

PepsiCo Price Performance

NASDAQ:PEP opened at $150.65 on Friday. The stock has a market capitalization of $205.99 billion, a PE ratio of 28.64, a P/E/G ratio of 5.20 and a beta of 0.42. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $160.15. The firm has a fifty day simple moving average of $147.30 and a 200 day simple moving average of $142.29. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP – Get Free Report) last announced its quarterly earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The firm had revenue of $23.94 billion during the quarter, compared to analysts’ expectations of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.31 earnings per share. On average, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s payout ratio is 108.17%.

About PepsiCo

(Free Report)

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.

See Also

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