Cornerstone Wealth Group LLC Purchases 6,090 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cornerstone Wealth Group LLC lifted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 78,311 shares of the company's stock after purchasing an additional 6,090 shares during the period. PepsiCo accounts for 1.0% of Cornerstone Wealth Group LLC's holdings, making the stock its 24th biggest holding. Cornerstone Wealth Group LLC's holdings in PepsiCo were worth $11,742,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Ossiam grew its holdings in PepsiCo by 138.9% during the 4th quarter. Ossiam now owns 73,604 shares of the company's stock worth $11,192,000 after acquiring an additional 42,793 shares during the period. OMERS ADMINISTRATION Corp grew its stake in PepsiCo by 12.1% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 124,797 shares of the company's stock worth $18,977,000 after purchasing an additional 13,461 shares during the period. Hutner Capital Management Inc. increased its holdings in PepsiCo by 14.6% in the fourth quarter. Hutner Capital Management Inc. now owns 53,783 shares of the company's stock worth $8,178,000 after purchasing an additional 6,865 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of PepsiCo during the 4th quarter worth approximately $47,899,000. Finally, Inspire Trust Co. N.A. increased its stake in shares of PepsiCo by 39.2% in the 4th quarter. Inspire Trust Co. N.A. now owns 17,125 shares of the company's stock valued at $2,604,000 after acquiring an additional 4,825 shares in the last quarter. Institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PEP. Dbs Bank lowered shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. JPMorgan Chase & Co. increased their price target on PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Evercore ISI set a $140.00 target price on PepsiCo in a research report on Thursday, April 24th. UBS Group reduced their price target on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $148.00 price objective on shares of PepsiCo in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, PepsiCo presently has an average rating of "Hold" and an average price target of $159.75.

PepsiCo Stock Performance

Shares of PEP stock traded up $1.96 on Tuesday, hitting $131.05. 9,069,859 shares of the stock were exchanged, compared to its average volume of 6,825,299. The firm's 50 day moving average is $132.83 and its two-hundred day moving average is $143.63. PepsiCo, Inc. has a one year low of $127.75 and a one year high of $180.91. The firm has a market capitalization of $179.68 billion, a PE ratio of 19.27, a P/E/G ratio of 3.71 and a beta of 0.46. 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 issued 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). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The business had revenue of $17.92 billion for the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the business earned $1.61 EPS. PepsiCo's revenue for the quarter was down 1.8% compared to the same quarter last year. Sell-side analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be paid a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.34%. PepsiCo's dividend payout ratio 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.