PepsiCo, Inc. (PEP) Stake Boosted by Franklin Parlapiano Turner & Welch LLC
Franklin Parlapiano Turner & Welch LLC lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 41,217 shares of the company’s stock after purchasing an additional 1,099 shares during the quarter. PepsiCo comprises about 1.8% of Franklin Parlapiano Turner & Welch LLC’s investment portfolio, making the stock its 20th largest position. Franklin Parlapiano Turner & Welch LLC’s holdings in PepsiCo were worth $4,487,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wagner Wealth Management LLC bought a new stake in PepsiCo in the fourth quarter valued at $109,000. Well Done LLC bought a new stake in PepsiCo in the first quarter valued at $125,000. Certified Advisory Corp bought a new stake in shares of PepsiCo during the fourth quarter valued at about $134,000. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of PepsiCo during the fourth quarter valued at about $140,000. Finally, Avestar Capital LLC bought a new stake in shares of PepsiCo during the fourth quarter valued at about $154,000. 70.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PEP traded down $0.42 on Friday, reaching $114.57. 2,568,101 shares of the stock traded hands, compared to its average volume of 3,640,177. PepsiCo, Inc. has a 12 month low of $95.94 and a 12 month high of $122.51. The stock has a market cap of $161.02 billion, a PE ratio of 21.91, a P/E/G ratio of 2.68 and a beta of 0.66. The company has a current ratio of 1.24, a quick ratio of 1.09 and a debt-to-equity ratio of 3.00.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 7th will be given a $0.9275 dividend. This represents a $3.71 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date is Thursday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 70.94%.
Several equities research analysts have commented on the stock. BidaskClub upgraded shares of PepsiCo from a “sell” rating to a “hold” rating in a research report on Saturday. TheStreet raised PepsiCo from a “c+” rating to a “b-” rating in a research note on Friday, July 6th. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. ValuEngine raised PepsiCo from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, Citigroup lifted their target price on PepsiCo from $111.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $119.50.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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