Barnes Dennig Private Wealth Management LLC Acquires New Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Barnes Dennig Private Wealth Management LLC bought a new position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 10,200 shares of the company's stock, valued at approximately $1,529,000. PepsiCo makes up about 2.3% of Barnes Dennig Private Wealth Management LLC's portfolio, making the stock its 15th biggest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Altus Wealth Group LLC boosted its stake in PepsiCo by 11.0% in the 1st quarter. Altus Wealth Group LLC now owns 6,999 shares of the company's stock worth $1,049,000 after purchasing an additional 691 shares during the period. Franklin Parlapiano Turner & Welch LLC boosted its stake in PepsiCo by 4.0% in the 1st quarter. Franklin Parlapiano Turner & Welch LLC now owns 47,358 shares of the company's stock worth $7,101,000 after purchasing an additional 1,831 shares during the period. Townsend & Associates Inc boosted its stake in PepsiCo by 7.4% in the 1st quarter. Townsend & Associates Inc now owns 18,299 shares of the company's stock worth $2,594,000 after purchasing an additional 1,264 shares during the period. Red Door Wealth Management LLC boosted its stake in PepsiCo by 10.1% in the 1st quarter. Red Door Wealth Management LLC now owns 39,002 shares of the company's stock worth $5,848,000 after purchasing an additional 3,566 shares during the period. Finally, Insight Inv LLC boosted its position in shares of PepsiCo by 9.2% during the 1st quarter. Insight Inv LLC now owns 14,080 shares of the company's stock valued at $2,111,000 after acquiring an additional 1,185 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PEP shares. JPMorgan Chase & Co. increased their target price on PepsiCo from $158.00 to $159.00 and gave the company a "neutral" rating in a research report on Monday, April 21st. Evercore ISI set a $140.00 target price on PepsiCo in a research report on Thursday, April 24th. Jefferies Financial Group downgraded PepsiCo from a "buy" rating to a "hold" rating and lowered their target price for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Royal Bank Of Canada reiterated a "sector perform" rating and set a $148.00 target price on shares of PepsiCo in a research report on Tuesday, June 24th. Finally, Morgan Stanley lowered their target price on PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $159.75.

PepsiCo Trading Down 0.6%

PEP stock traded down $0.83 during midday trading on Thursday, reaching $135.65. The company's stock had a trading volume of 4,928,284 shares, compared to its average volume of 7,031,871. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83. The stock has a fifty day simple moving average of $131.36 and a two-hundred day simple moving average of $142.54. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The firm has a market capitalization of $185.99 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 4.23 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share 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 analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 EPS. On average, equities research analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 6th were paid 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 4.19%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's dividend payout ratio (DPR) is currently 83.68%.

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.