Everhart Financial Group Inc. boosted its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 48.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,770 shares of the company's stock after buying an additional 3,207 shares during the quarter. Everhart Financial Group Inc.'s holdings in PepsiCo were worth $1,465,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new stake in shares of PepsiCo in the 4th quarter valued at approximately $224,000. Brighton Jones LLC grew its position in shares of PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after buying an additional 6,574 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new position in shares of PepsiCo in the 4th quarter valued at $9,268,000. Strategic Financial Concepts LLC purchased a new position in shares of PepsiCo in the 4th quarter valued at $162,000. Finally, Sovran Advisors LLC purchased a new position in shares of PepsiCo in the 4th quarter valued at $429,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.
PepsiCo Stock Performance
Shares of PEP stock traded down $1.45 during mid-day trading on Friday, hitting $130.85. The stock had a trading volume of 9,578,363 shares, compared to its average volume of 6,664,721. PepsiCo, Inc. has a fifty-two week low of $127.75 and a fifty-two week high of $180.91. The firm has a market cap of $179.41 billion, a PE ratio of 18.83, a PEG ratio of 3.09 and a beta of 0.45. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. The company's 50-day simple moving average is $134.63 and its 200-day simple moving average is $145.20.
PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the business posted $1.61 EPS. The firm's revenue was down 1.8% on a year-over-year basis. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.
PepsiCo Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a $1.4225 dividend. This is a boost from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.35%. PepsiCo's dividend payout ratio (DPR) is 83.68%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on PEP. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and dropped their target price for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $163.00 target price on shares of PepsiCo in a research report on Tuesday, April 22nd. Bank of America dropped their target price on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Barclays lowered their price objective on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Finally, Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $160.69.
Read Our Latest Stock Analysis on PEP
PepsiCo Company Profile
(
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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