Argent Capital Management LLC Has $23.94 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

by · The Cerbat Gem

Argent Capital Management LLC lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 145,130 shares of the company’s stock after selling 1,676 shares during the quarter. Argent Capital Management LLC’s holdings in PepsiCo were worth $23,936,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC lifted its position in shares of PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after purchasing an additional 139 shares in the last quarter. V Square Quantitative Management LLC boosted its position in PepsiCo by 1.1% in the 1st quarter. V Square Quantitative Management LLC now owns 16,400 shares of the company’s stock valued at $2,870,000 after buying an additional 180 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of PepsiCo by 4.5% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 1,002,267 shares of the company’s stock worth $175,407,000 after acquiring an additional 43,296 shares during the last quarter. Norden Group LLC lifted its stake in shares of PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after acquiring an additional 174,171 shares during the period. Finally, Fulton Breakefield Broenniman LLC boosted its holdings in PepsiCo by 21.5% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 93,099 shares of the company’s stock valued at $15,812,000 after acquiring an additional 16,494 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Barclays raised their target price on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Bank of America cut their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. TD Cowen decreased their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Hold” and an average price target of $185.53.

View Our Latest Stock Analysis on PepsiCo

PepsiCo Stock Performance

PepsiCo stock traded up $0.13 during mid-day trading on Friday, hitting $175.87. 5,283,617 shares of the company’s stock traded hands, compared to its average volume of 5,466,141. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The stock has a market cap of $241.57 billion, a price-to-earnings ratio of 25.53, a P/E/G ratio of 2.98 and a beta of 0.52. The firm has a 50 day simple moving average of $169.18 and a two-hundred day simple moving average of $170.69. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP – Get Free Report) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period last year, the firm posted $2.09 EPS. On average, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

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

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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