Maia Wealth LLC Makes New $327,000 Investment in PepsiCo, Inc. (NASDAQ:PEP)

Maia Wealth LLC purchased a new position in PepsiCo, Inc. (NASDAQ:PEP) in the 2nd quarter, HoldingsChannel reports. The fund purchased 1,998 shares of the company’s stock, valued at approximately $327,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in shares of PepsiCo during the fourth quarter valued at $2,686,139,000. Flossbach Von Storch AG boosted its holdings in shares of PepsiCo by 67.2% during the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after acquiring an additional 1,470,064 shares during the period. Franklin Resources Inc. raised its holdings in shares of PepsiCo by 17.7% during the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after purchasing an additional 1,345,065 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in PepsiCo by 68.0% during the fourth quarter. Mackenzie Financial Corp now owns 2,922,643 shares of the company’s stock valued at $496,382,000 after purchasing an additional 1,183,371 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PepsiCo stock traded up $1.31 during trading hours on Wednesday, hitting $173.68. The company’s stock had a trading volume of 239,938 shares, compared to its average volume of 5,483,331. The company has a market cap of $238.77 billion, a PE ratio of 25.02, a PEG ratio of 2.98 and a beta of 0.52. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The business has a 50 day moving average price of $168.06 and a two-hundred day moving average price of $170.45. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.46.

PepsiCo (NASDAQ:PEP) last posted 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. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same period in the prior year, the company posted $2.09 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.12%. PepsiCo’s payout ratio is 78.66%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PEP shares. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Bank of America lowered their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Wedbush restated an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. TD Cowen dropped their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Finally, Wells Fargo & Company reduced their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, PepsiCo has an average rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Company 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.