Crestwood Advisors Group LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 4.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,135 shares of the company's stock after selling 3,641 shares during the period. Crestwood Advisors Group LLC's holdings in PepsiCo were worth $10,666,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. GW&K Investment Management LLC grew its holdings in shares of PepsiCo by 5.9% during the first quarter. GW&K Investment Management LLC now owns 1,809 shares of the company's stock worth $271,000 after buying an additional 101 shares during the last quarter. Wealth Dimensions Group Ltd. boosted its position in PepsiCo by 7.3% during the 1st quarter. Wealth Dimensions Group Ltd. now owns 3,456 shares of the company's stock worth $518,000 after purchasing an additional 234 shares during the period. Verus Financial Partners Inc. boosted its position in PepsiCo by 26.5% in the 1st quarter. Verus Financial Partners Inc. now owns 2,237 shares of the company's stock valued at $320,000 after buying an additional 469 shares during the last quarter. Gallacher Capital Management LLC boosted its position in PepsiCo by 2.8% in the 1st quarter. Gallacher Capital Management LLC now owns 105,512 shares of the company's stock valued at $15,820,000 after buying an additional 2,880 shares during the last quarter. Finally, Miller Financial Services LLC lifted its position in shares of PepsiCo by 9.1% during the first quarter. Miller Financial Services LLC now owns 8,189 shares of the company's stock worth $1,228,000 after purchasing an additional 683 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on PEP shares. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a research report on Thursday. Wells Fargo & Company increased their price target on shares of PepsiCo from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research report on Friday. Evercore ISI set a $140.00 price target on shares of PepsiCo in a research report on Thursday, April 24th. Bank of America reduced their price target on shares of PepsiCo from $150.00 to $145.00 and set a "neutral" rating on the stock in a research report on Friday, July 11th. Finally, Morgan Stanley increased their price target on shares of PepsiCo from $153.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $158.73.
Get Our Latest Stock Report on PepsiCo
PepsiCo Stock Performance
PEP traded down $1.54 during trading on Monday, hitting $141.70. The stock had a trading volume of 9,002,722 shares, compared to its average volume of 7,246,734. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The firm has a market cap of $194.00 billion, a PE ratio of 18.20, a P/E/G ratio of 4.38 and a beta of 0.45. The company has a 50 day simple moving average of $132.23 and a 200-day simple moving average of $141.04. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91.
PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The company reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the previous year, the business earned $2.28 earnings per share. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.
PepsiCo Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were issued a dividend of $1.4225 per share. The ex-dividend date of this dividend was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.02%. This is a boost from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is currently 103.64%.
About PepsiCo
(
Free Report)
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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