Crossmark Global Holdings Inc. Has $13.29 Million Stock Position in PepsiCo, Inc. $PEP

Key Points

• Crossmark Global Holdings increased its PepsiCo stake by 8.3% in the fourth quarter, ending with 92,566 shares valued at about $13.29 million.
• PepsiCo reported strong quarterly results, with EPS of $1.61 and revenue of $19.44 billion, both beating analyst estimates; revenue rose 8.5% year over year.
• The company also boosted its quarterly dividend to $1.48 per share and authorized a $10 billion share buyback, signaling confidence in the stock and returning more capital to shareholders.

Crossmark Global Holdings Inc. lifted its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 8.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 92,566 shares of the company's stock after acquiring an additional 7,089 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in PepsiCo were worth $13,285,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. JCIC Asset Management Inc. acquired a new position in PepsiCo during the third quarter worth approximately $27,000. MH & Associates Securities Management Corp ADV acquired a new position in PepsiCo during the fourth quarter worth approximately $29,000. Imprint Wealth LLC bought a new stake in shares of PepsiCo during the third quarter worth approximately $31,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of PepsiCo during the fourth quarter worth approximately $33,000. Finally, Strategic Advocates LLC bought a new stake in shares of PepsiCo during the third quarter worth approximately $33,000. Institutional investors and hedge funds own 73.07% of the company's stock.

PepsiCo Stock Down 1.1%

NASDAQ PEP opened at $154.62 on Friday. The business has a fifty day moving average price of $157.25 and a two-hundred day moving average price of $152.50. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The stock has a market capitalization of $211.33 billion, a PE ratio of 24.27, a PEG ratio of 2.83 and a beta of 0.38.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.55 by $0.06. The company had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The company's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.48 earnings per share. Equities analysts expect that PepsiCo, Inc. will post 8.63 earnings per share for the current fiscal year.

PepsiCo announced that its Board of Directors has authorized a share buyback program on Tuesday, February 3rd that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the company to purchase up to 4.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, June 5th. This represents a $5.92 annualized dividend and a yield of 3.8%. This is an increase from PepsiCo's previous quarterly dividend of $1.42. PepsiCo's dividend payout ratio is 89.32%.

Key Stories Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced a new partnership in the UAE’s Future Industries Lab to support SMEs and young Emiratis, reinforcing its innovation and local investment strategy. MoIAT expands Future Industries Lab with new PepsiCo partnership supporting SMEs and young Emiratis
• Positive Sentiment: PepsiCo and TalusAg Renewables announced a low-carbon ammonia agreement, an ESG-oriented move that could improve supply-chain sustainability and appeal to investors focused on emissions reduction. PepsiCo and TalusAg Renewables announce low-carbon ammonia attribute agreement to help accelerate fertilizer decarbonization
• Positive Sentiment: Multiple articles highlighted PepsiCo’s continued investment in China and its focus on international growth, product innovation, and cost discipline, which supports the long-term bull case. PepsiCo to 'continue investing' in Chinese market

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PEP shares. Rothschild & Co Redburn boosted their price objective on PepsiCo from $120.00 to $130.00 and gave the stock a "sell" rating in a report on Tuesday, February 10th. Wells Fargo & Company boosted their price objective on PepsiCo from $154.00 to $165.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 4th. The Goldman Sachs Group boosted their price objective on PepsiCo from $180.00 to $183.00 and gave the stock a "buy" rating in a report on Friday, April 17th. Royal Bank Of Canada reduced their price objective on PepsiCo from $165.00 to $163.00 and set a "sector perform" rating for the company in a report on Thursday, April 9th. Finally, BNP Paribas Exane boosted their price objective on PepsiCo from $191.00 to $195.00 and gave the stock an "outperform" rating in a report on Friday, April 17th. Eight analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, PepsiCo presently has a consensus rating of "Hold" and a consensus price target of $170.26.

About PepsiCo

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

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