Balentine LLC Raises Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Balentine LLC grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 65.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,912 shares of the company's stock after buying an additional 3,131 shares during the period. Balentine LLC's holdings in PepsiCo were worth $1,186,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PEP. WealthTrak Capital Management LLC bought a new position in shares of PepsiCo in the fourth quarter worth approximately $28,000. Elite Financial Inc. bought a new position in shares of PepsiCo in the first quarter worth approximately $28,000. Prudent Man Investment Management Inc. bought a new position in shares of PepsiCo in the fourth quarter worth approximately $30,000. Measured Risk Portfolios Inc. bought a new position in shares of PepsiCo in the fourth quarter worth approximately $31,000. Finally, Summit Securities Group LLC bought a new position in shares of PepsiCo in the fourth quarter worth approximately $33,000. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

NASDAQ PEP traded down $2.20 during trading hours on Friday, hitting $143.24. The company's stock had a trading volume of 13,738,009 shares, compared to its average volume of 7,239,591. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91. The company's 50 day simple moving average is $132.23 and its two-hundred day simple moving average is $141.18. The company has a market cap of $196.39 billion, a P/E ratio of 26.09, a price-to-earnings-growth ratio of 4.38 and a beta of 0.45. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.78 and a quick ratio of 0.65.

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

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were given a dividend of $1.4225 per share. The ex-dividend date was Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 3.97%. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is currently 103.64%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PEP shares. Citigroup upped their target price on PepsiCo from $160.00 to $168.00 and gave the stock a "buy" rating in a research note on Friday. Bank of America cut their target price on PepsiCo from $150.00 to $145.00 and set a "neutral" rating for the company in a research note on Friday, July 11th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research note on Thursday. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $148.00 target price on shares of PepsiCo in a research note on Tuesday, June 24th. Finally, Barclays dropped their price objective on PepsiCo from $135.00 to $132.00 and set an "equal weight" rating for the company in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $159.50.

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.