Absher Wealth Management LLC Acquires 16,036 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Absher Wealth Management LLC boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 7.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 230,467 shares of the company's stock after buying an additional 16,036 shares during the quarter. PepsiCo comprises 4.5% of Absher Wealth Management LLC's portfolio, making the stock its 4th biggest holding. Absher Wealth Management LLC's holdings in PepsiCo were worth $34,556,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PEP. Vanguard Group Inc. grew its position in shares of PepsiCo by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. Geode Capital Management LLC grew its position in shares of PepsiCo by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock valued at $4,717,069,000 after purchasing an additional 582,254 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock valued at $3,834,504,000 after purchasing an additional 3,856,193 shares during the last quarter. Norges Bank acquired a new stake in shares of PepsiCo in the fourth quarter valued at about $2,729,565,000. Finally, Northern Trust Corp grew its position in shares of PepsiCo by 8.7% in the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after purchasing an additional 1,306,818 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of PEP opened at $129.07 on Friday. The stock has a market cap of $176.97 billion, a price-to-earnings ratio of 18.98, a P/E/G ratio of 3.71 and a beta of 0.45. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91. The company has a 50-day moving average price of $133.19 and a two-hundred day moving average price of $143.95.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The business had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 EPS. Equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be paid a $1.4225 dividend. The ex-dividend date is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.41%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is 83.68%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PEP. Citigroup lowered their price target on PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $163.00 target price on shares of PepsiCo in a research note on Tuesday, April 22nd. UBS Group reduced their target price on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Bank of America reduced their target price on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $160.69.

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.

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