Coastal Bridge Advisors LLC Grows Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Coastal Bridge Advisors LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 22,202 shares of the company’s stock after purchasing an additional 1,463 shares during the period. PepsiCo makes up approximately 0.7% of Coastal Bridge Advisors LLC’s holdings, making the stock its 27th largest position. Coastal Bridge Advisors LLC’s holdings in PepsiCo were worth $3,290,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in PEP. Paragon Wealth Strategies LLC purchased a new position in shares of PepsiCo during the second quarter valued at approximately $30,000. Cowen Prime Advisors LLC purchased a new position in PepsiCo in the 2nd quarter worth approximately $34,000. Twin Lakes Capital Management LLC purchased a new position in PepsiCo in the 2nd quarter worth approximately $48,000. Wagner Wealth Management LLC purchased a new position in PepsiCo in the 1st quarter worth approximately $53,000. Finally, Baron Financial Group LLC raised its holdings in PepsiCo by 54.0% in the 1st quarter. Baron Financial Group LLC now owns 385 shares of the company’s stock worth $54,000 after acquiring an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 70.55% of the company’s stock.

PepsiCo stock traded up $1.03 during mid-day trading on Wednesday, hitting $156.18. The stock had a trading volume of 148,771 shares, compared to its average volume of 4,954,938. The firm has a market capitalization of $215.86 billion, a P/E ratio of 26.25, a P/E/G ratio of 2.96 and a beta of 0.60. The company has a current ratio of 0.91, a quick ratio of 0.70 and a debt-to-equity ratio of 2.47. The firm’s 50 day moving average is $155.51 and its 200 day moving average is $147.54. PepsiCo, Inc. has a one year low of $128.32 and a one year high of $159.63.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Monday, July 12th. The company reported $1.72 EPS for the quarter, topping the consensus estimate of $1.53 by $0.19. The business had revenue of $19.22 billion for the quarter, compared to analysts’ expectations of $17.95 billion. PepsiCo had a net margin of 11.01% and a return on equity of 59.56%. The business’s quarterly revenue was up 20.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.32 EPS. As a group, equities research analysts forecast that PepsiCo, Inc. will post 6.24 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Friday, September 3rd will be given a dividend of $1.075 per share. This represents a $4.30 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Thursday, September 2nd. PepsiCo’s dividend payout ratio is 77.90%.

In other news, SVP Marie T. Gallagher sold 7,409 shares of the company’s stock in a transaction dated Monday, July 19th. The shares were sold at an average price of $155.70, for a total transaction of $1,153,581.30. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.

A number of equities analysts recently weighed in on PEP shares. Royal Bank of Canada boosted their price objective on shares of PepsiCo from $153.00 to $155.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 14th. Citigroup lifted their target price on shares of PepsiCo from $162.00 to $176.00 and gave the stock a “buy” rating in a research report on Wednesday, July 14th. Zacks Investment Research downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 target price for the company. in a research report on Monday, August 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PepsiCo from $149.00 to $154.00 and gave the stock a “hold” rating in a research report on Wednesday, July 14th. Finally, Cowen reaffirmed a “buy” rating and issued a $165.00 target price on shares of PepsiCo in a research report on Friday, July 9th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, PepsiCo currently has an average rating of “Hold” and a consensus target price of $159.58.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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