Alpine Bank Wealth Management Invests $1.88 Million in PepsiCo, Inc. (NASDAQ:PEP)

Alpine Bank Wealth Management acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 12,506 shares of the company's stock, valued at approximately $1,875,000.

A number of other hedge funds also recently made changes to their positions in PEP. WealthTrak Capital Management LLC purchased a new position in shares of PepsiCo during the 4th quarter valued at approximately $28,000. Prudent Man Investment Management Inc. bought a new position in PepsiCo during the 4th quarter valued at $30,000. Measured Risk Portfolios Inc. acquired a new position in PepsiCo during the 4th quarter worth $31,000. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 4th quarter worth about $33,000. Finally, GKV Capital Management Co. Inc. bought a new position in shares of PepsiCo during the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 73.07% of the company's stock.

PepsiCo Price Performance

PEP stock traded up $0.20 during trading hours on Thursday, hitting $128.22. 11,519,153 shares of the stock traded hands, compared to its average volume of 6,888,552. The stock has a 50-day simple moving average of $132.36 and a 200 day simple moving average of $143.44. The company has a market cap of $175.80 billion, a P/E ratio of 18.86, a P/E/G ratio of 3.68 and a beta of 0.45. PepsiCo, Inc. has a one year low of $127.63 and a one year high of $180.91. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13.

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

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 dividend yield of 4.44%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's payout ratio is presently 83.68%.

Analyst Ratings Changes

Several brokerages have issued reports on PEP. Citigroup cut their price objective on PepsiCo from $170.00 to $160.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Evercore ISI set a $140.00 target price on shares of PepsiCo in a research note on Thursday, April 24th. Bank of America reduced their price target on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Morgan Stanley lowered their price objective on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Finally, UBS Group cut their target price on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo has an average rating of "Hold" and an average target price of $159.75.

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.