AlphaCore Capital LLC Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• AlphaCore Capital LLC increased its stake in PepsiCo by 35.2%, acquiring an additional 4,266 shares, bringing its total holdings to 16,383 shares valued at approximately $2.46 million.
• PepsiCo reported $2.12 earnings per share for the last quarter, exceeding analysts' expectations, and its revenue reached $22.73 billion, up 1.0% from the previous year.
• The company announced a quarterly dividend of $1.4225 per share, with a 4.0% dividend yield, scheduled for distribution on September 30th.

AlphaCore Capital LLC lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 35.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 16,383 shares of the company's stock after acquiring an additional 4,266 shares during the period. AlphaCore Capital LLC's holdings in PepsiCo were worth $2,456,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Elite Financial Inc. purchased a new stake in PepsiCo during the 1st quarter valued at about $28,000. Measured Risk Portfolios Inc. purchased a new stake in shares of PepsiCo during the fourth quarter valued at approximately $31,000. GKV Capital Management Co. Inc. purchased a new position in shares of PepsiCo in the fourth quarter worth $38,000. Bridge Generations Wealth Management LLC bought a new stake in PepsiCo during the 4th quarter valued at $38,000. Finally, Sunbeam Capital Management LLC purchased a new stake in PepsiCo during the 4th quarter valued at $47,000. Institutional investors own 73.07% of the company's stock.

PepsiCo Stock Up 0.9%

Shares of NASDAQ PEP traded up $1.29 on Friday, reaching $145.21. 5,313,480 shares of the company's stock traded hands, compared to its average volume of 9,539,993. The business's 50 day simple moving average is $135.71 and its two-hundred day simple moving average is $140.70. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $179.73. The company has a market cap of $198.80 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 3.83 and a beta of 0.45. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The company had revenue of $22.73 billion for the quarter, compared to the consensus estimate of $22.28 billion. During the same quarter in the prior year, the business posted $2.28 EPS. The firm's quarterly revenue was up 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Friday, September 5th will be paid a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, September 5th. PepsiCo's dividend payout ratio (DPR) is currently 103.64%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PEP. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research report on Thursday, July 17th. Citigroup increased their price objective on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company boosted their target price on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Friday, July 18th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a research note on Tuesday, June 24th. Finally, Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research report on Thursday, April 24th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo presently has an average rating of "Hold" and a consensus target price of $158.73.

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.