Heritage Wealth Management Inc. Buys Shares of 12,746 PepsiCo, Inc. (NASDAQ:PEP)

Heritage Wealth Management Inc. bought a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,746 shares of the company’s stock, valued at approximately $2,095,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its holdings in PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares during the last quarter. Norden Group LLC grew its holdings in PepsiCo by 3,345.6% in the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after buying an additional 174,171 shares during the last quarter. Marion Wealth Management grew its holdings in shares of PepsiCo by 6.3% during the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock worth $1,467,000 after purchasing an additional 494 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of PepsiCo by 1.6% during the 4th quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock worth $121,486,000 after purchasing an additional 11,485 shares in the last quarter. Finally, Meyer Handelman Co. grew its holdings in shares of PepsiCo by 3.9% during the 1st quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after purchasing an additional 9,465 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on PepsiCo from $182.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday. Bank of America decreased their price objective on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday. Jefferies Financial Group decreased their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Barclays raised their target price on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Finally, Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday, September 20th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and an average price target of $185.40.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $171.38 on Wednesday. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $235.61 billion, a PE ratio of 24.87, a PEG ratio of 2.93 and a beta of 0.53. The stock’s fifty day simple moving average is $173.92 and its 200 day simple moving average is $172.17.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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. The business had revenue of $22.50 billion during the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.09 EPS. On average, research analysts predict that PepsiCo, Inc. will post 8.14 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 6th were paid a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend was Friday, September 6th. PepsiCo’s dividend payout ratio is 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.