Elevation Point Wealth Partners LLC Increases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Elevation Point Wealth Partners LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 27.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,406 shares of the company's stock after purchasing an additional 4,392 shares during the period. Elevation Point Wealth Partners LLC's holdings in PepsiCo were worth $3,060,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PEP. WealthTrak Capital Management LLC bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $28,000. Creative Capital Management Investments LLC bought a new stake in PepsiCo during the 4th quarter valued at $30,000. Prudent Man Investment Management Inc. acquired a new position in PepsiCo during the fourth quarter worth $30,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo during the fourth quarter valued at about $31,000. Finally, Summit Securities Group LLC bought a new stake in shares of PepsiCo during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on PEP. Royal Bank of Canada reiterated a "sector perform" rating and set a $163.00 price target on shares of PepsiCo in a research note on Tuesday, April 22nd. Barclays cut their target price on PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Citigroup lowered their price target on PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a report on Thursday, April 24th. Finally, Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. One 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 data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $160.69.

PepsiCo Stock Performance

NASDAQ PEP traded down $1.45 on Friday, hitting $130.85. 9,578,363 shares of the stock traded hands, compared to its average volume of 6,664,721. The firm has a market capitalization of $179.41 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 3.09 and a beta of 0.45. The business's fifty day moving average is $134.63 and its two-hundred day moving average is $145.20. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82. PepsiCo, Inc. has a 12 month low of $127.75 and a 12 month high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). The firm had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company's revenue was down 1.8% compared to the same quarter last year. During the same period last year, the business posted $1.61 EPS. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $1.4225 per share. This is a boost from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.35%. PepsiCo's payout ratio is presently 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.