Allworth Financial LP Buys 7,218 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Allworth Financial LP lifted its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 10.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,002 shares of the company's stock after purchasing an additional 7,218 shares during the quarter. Allworth Financial LP's holdings in PepsiCo were worth $11,096,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in PepsiCo during the 4th quarter worth approximately $2,729,565,000. GAMMA Investing LLC raised its holdings in shares of PepsiCo by 19,106.5% during the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company's stock worth $688,017,000 after acquiring an additional 4,564,723 shares during the period. Assenagon Asset Management S.A. lifted its position in PepsiCo by 106.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company's stock valued at $527,034,000 after acquiring an additional 1,809,391 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in PepsiCo during the 4th quarter worth about $221,297,000. Finally, Vanguard Group Inc. raised its stake in shares of PepsiCo by 1.0% in the 4th 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 period. Institutional investors and hedge funds own 73.07% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PEP. Evercore ISI set a $140.00 price objective on PepsiCo in a report on Thursday, April 24th. Morgan Stanley lowered their price objective on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. UBS Group cut their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their target price on PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, PepsiCo presently has a consensus rating of "Hold" and a consensus price target of $158.19.

PepsiCo Stock Performance

Shares of PepsiCo stock traded down $0.82 on Friday, hitting $135.26. The stock had a trading volume of 7,958,581 shares, compared to its average volume of 7,077,247. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. The business's 50 day moving average is $131.46 and its two-hundred day moving average is $141.78. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $180.91. The stock has a market cap of $185.45 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 4.26 and a beta of 0.45.

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

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were given a dividend of $1.4225 per share. This is a boost from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 annualized dividend and a yield of 4.21%. PepsiCo's dividend payout ratio is currently 83.68%.

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.