Confluence Wealth Services Inc. Increases Position in PepsiCo, Inc. (NASDAQ:PEP)

Confluence Wealth Services Inc. boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.7% in the second quarter, HoldingsChannel.com reports. The fund owned 29,442 shares of the company’s stock after acquiring an additional 1,587 shares during the quarter. Confluence Wealth Services Inc.’s holdings in PepsiCo were worth $4,856,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in PEP. Valued Wealth Advisors LLC grew its position in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the period. POM Investment Strategies LLC raised its position in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo in the second quarter valued at approximately $30,000. Fortis Group Advisors LLC boosted its position in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of PepsiCo during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ PEP traded up $0.79 during mid-day trading on Friday, reaching $172.88. The company’s stock had a trading volume of 8,677,312 shares, compared to its average volume of 5,453,207. The stock has a 50-day moving average of $169.92 and a two-hundred day moving average of $170.80. 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 stock has a market capitalization of $237.67 billion, a P/E ratio of 25.09, a P/E/G ratio of 2.98 and a beta of 0.52. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. PepsiCo’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. On average, equities research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is currently 78.66%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PEP shares. Royal Bank of Canada lowered their price target on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Jefferies Financial Group dropped their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. JPMorgan Chase & Co. reduced their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a report on Friday, July 19th. Finally, Bank of America reduced their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

About PepsiCo

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.