Cary Street Partners Financial LLC Invests $7.76 Million in PepsiCo, Inc. (NASDAQ:PEP)

Cary Street Partners Financial LLC bought a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 51,053 shares of the company's stock, valued at approximately $7,763,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tcfg Wealth Management LLC boosted its holdings in PepsiCo by 3.5% during the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company's stock worth $295,000 after buying an additional 66 shares in the last quarter. Lincoln Capital LLC boosted its stake in shares of PepsiCo by 0.4% during the 4th quarter. Lincoln Capital LLC now owns 16,808 shares of the company's stock worth $2,556,000 after acquiring an additional 70 shares in the last quarter. Marshall Financial Group LLC grew its holdings in shares of PepsiCo by 2.3% in the 4th quarter. Marshall Financial Group LLC now owns 3,128 shares of the company's stock worth $476,000 after acquiring an additional 70 shares during the period. Osprey Private Wealth LLC increased its stake in PepsiCo by 0.5% in the 4th quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company's stock valued at $2,290,000 after purchasing an additional 70 shares in the last quarter. Finally, TAGStone Capital Inc. raised its holdings in PepsiCo by 2.8% during the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after purchasing an additional 70 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. BNP Paribas cut their price target on PepsiCo from $162.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. UBS Group reduced their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. Barclays lowered their target price on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. Finally, StockNews.com lowered shares of PepsiCo from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $160.69.

PepsiCo Stock Down 0.9 %

PepsiCo stock traded down $1.25 during trading on Tuesday, reaching $130.74. 6,874,715 shares of the company's stock were exchanged, compared to its average volume of 6,248,957. The company's 50-day moving average is $145.13 and its two-hundred day moving average is $151.78. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. PepsiCo, Inc. has a 52-week low of $130.16 and a 52-week high of $183.41. The firm has a market cap of $179.25 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 3.09 and a beta of 0.47.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The company had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. During the same quarter in the previous year, the business posted $1.61 earnings per share. The business's quarterly revenue was down 1.8% compared to the same quarter last year. On average, analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a yield of 4.35%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is currently 79.71%.

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.