Cary Street Partners Financial LLC Boosts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• Cary Street Partners Financial LLC increased its stake in PepsiCo, Inc. by 32.9% in Q1, owning 67,846 shares worth approximately $10.17 million.
• A number of large investors, including Advyzon Investment Management LLC and New Age Alpha Advisors LLC, have also significantly raised their holdings in PepsiCo during the same period.
• PepsiCo recently announced a quarterly dividend of $1.4225, yielding 4.1%, despite a high dividend payout ratio of 103.64%.

Cary Street Partners Financial LLC boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 32.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,846 shares of the company's stock after acquiring an additional 16,793 shares during the period. Cary Street Partners Financial LLC's holdings in PepsiCo were worth $10,173,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Advyzon Investment Management LLC lifted its holdings in PepsiCo by 53.9% in the first quarter. Advyzon Investment Management LLC now owns 2,880 shares of the company's stock valued at $432,000 after acquiring an additional 1,009 shares during the last quarter. New Age Alpha Advisors LLC lifted its holdings in PepsiCo by 144.0% in the first quarter. New Age Alpha Advisors LLC now owns 47,673 shares of the company's stock valued at $7,148,000 after acquiring an additional 28,133 shares during the last quarter. Middleton & Co. Inc. MA lifted its holdings in PepsiCo by 14.6% in the first quarter. Middleton & Co. Inc. MA now owns 28,888 shares of the company's stock valued at $4,331,000 after acquiring an additional 3,676 shares during the last quarter. Thoroughbred Financial Services LLC lifted its holdings in PepsiCo by 0.7% in the first quarter. Thoroughbred Financial Services LLC now owns 22,353 shares of the company's stock valued at $3,351,000 after acquiring an additional 155 shares during the last quarter. Finally, Wills Financial Group LLC acquired a new position in PepsiCo in the first quarter valued at approximately $7,778,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent analyst reports. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $148.00 price objective on shares of PepsiCo in a report on Tuesday, June 24th. Wells Fargo & Company upped their price target on PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Dbs Bank cut PepsiCo from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 9th. Morgan Stanley upped their price target on PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Friday, July 18th. Finally, Cowen restated a "hold" rating on shares of PepsiCo in a research note on Thursday, July 17th. 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 company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $158.73.

PepsiCo Stock Up 0.2%

Shares of NASDAQ PEP opened at $139.56 on Tuesday. The stock has a market cap of $191.07 billion, a P/E ratio of 25.42, a PEG ratio of 3.71 and a beta of 0.45. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a 12-month low of $127.60 and a 12-month high of $180.91. The business's fifty day simple moving average is $134.83 and its 200-day simple moving average is $140.77.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.09. The business 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 company's revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned $2.28 earnings per share. As a group, equities analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $1.4225 dividend. This represents a $5.69 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, September 5th. PepsiCo's dividend payout ratio is 103.64%.

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.

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