Elevation Point Wealth Partners LLC Increases Stock Holdings in PepsiCo, Inc. $PEP

Key Points

• Elevation Point Wealth Partners LLC increased its stake in PepsiCo by 37.9% in Q3, buying 6,715 shares to hold 24,455 shares worth about $3.434 million.
• PepsiCo approved a $10.00 billion share buyback and declared a quarterly dividend of $1.4225 (annualized $5.69), implying a yield of ~3.6% and a dividend payout ratio near 94.8%.
• Analysts hold a consensus "Hold" rating with an average target of $169; the company recently beat Q results (EPS $2.26 vs $2.24, revenue $29.34B) and the stock was trading around $159.88.

Elevation Point Wealth Partners LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 37.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 24,455 shares of the company's stock after buying an additional 6,715 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in PepsiCo were worth $3,434,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of PepsiCo in the second quarter valued at about $2,330,594,000. Laurel Wealth Advisors LLC boosted its holdings in PepsiCo by 14,420.2% during the second quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company's stock worth $513,726,000 after purchasing an additional 3,863,893 shares during the last quarter. AQR Capital Management LLC grew its position in PepsiCo by 120.7% in the 3rd quarter. AQR Capital Management LLC now owns 5,916,417 shares of the company's stock worth $830,902,000 after purchasing an additional 3,235,726 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 9.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company's stock worth $3,833,406,000 after buying an additional 2,556,163 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of PepsiCo by 19.5% in the 2nd quarter. Franklin Resources Inc. now owns 15,577,073 shares of the company's stock worth $2,056,797,000 after buying an additional 2,541,455 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Up 0.6%

PEP opened at $159.88 on Friday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $171.48. The company has a market cap of $218.50 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 3.07 and a beta of 0.39. The company has a current ratio of 0.85, a quick ratio of 0.67 and a debt-to-equity ratio of 2.06. The company has a 50 day moving average of $156.71 and a 200 day moving average of $149.69.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its earnings results on Monday, February 2nd. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.24 by $0.02. PepsiCo had a return on equity of 57.92% and a net margin of 8.77%.The firm had revenue of $29.34 billion for the quarter, compared to the consensus estimate of $28.96 billion. During the same quarter in the prior year, the business posted $1.96 earnings per share. The business's quarterly revenue was up 5.6% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 6th will be paid a $1.4225 dividend. The ex-dividend date is Friday, March 6th. This represents a $5.69 annualized dividend and a yield of 3.6%. PepsiCo's dividend payout ratio (DPR) is currently 94.83%.

PepsiCo declared that its Board of Directors has approved a stock repurchase plan on Tuesday, February 3rd that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the company to reacquire up to 4.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research analyst reports. HSBC increased their price target on PepsiCo from $152.00 to $175.00 and gave the company a "hold" rating in a research report on Thursday, February 5th. TD Cowen upped their price objective on PepsiCo from $162.00 to $165.00 and gave the company a "hold" rating in a research note on Friday, February 20th. Wall Street Zen upgraded PepsiCo from a "hold" rating to a "buy" rating in a research note on Saturday, March 7th. Royal Bank Of Canada increased their price target on shares of PepsiCo from $156.00 to $165.00 and gave the company a "sector perform" rating in a research report on Monday, March 2nd. Finally, Argus upgraded shares of PepsiCo to a "hold" rating in a report on Tuesday, February 17th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $169.00.

PepsiCo Company Profile

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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