Golden State Wealth Management LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 124.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,595 shares of the company's stock after acquiring an additional 4,216 shares during the quarter. Golden State Wealth Management LLC's holdings in PepsiCo were worth $1,140,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of PEP. Brighton Jones LLC lifted its holdings in PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock valued at $9,031,000 after purchasing an additional 6,574 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of PepsiCo by 2.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after buying an additional 11,538 shares in the last quarter. Pinnacle West Asset Management Inc. boosted its holdings in PepsiCo by 4.8% in the 4th quarter. Pinnacle West Asset Management Inc. now owns 5,830 shares of the company's stock worth $887,000 after buying an additional 265 shares during the period. Kirtland Hills Capital Management LLC increased its stake in PepsiCo by 35.1% in the 4th quarter. Kirtland Hills Capital Management LLC now owns 5,910 shares of the company's stock worth $899,000 after buying an additional 1,535 shares in the last quarter. Finally, Lake Street Advisors Group LLC raised its holdings in PepsiCo by 35.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 21,854 shares of the company's stock valued at $3,354,000 after acquiring an additional 5,750 shares during the period. Institutional investors own 73.07% of the company's stock.
Wall Street Analyst Weigh In
PEP has been the topic of several recent analyst reports. Evercore ISI set a $140.00 target price on PepsiCo in a research note on Thursday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a report on Monday, April 21st. Jefferies Financial Group cut shares of PepsiCo from a "buy" rating to a "hold" rating and cut their target price for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. Bank of America decreased their price target on shares of PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. Finally, UBS Group reduced their target price on PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday, April 25th. 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. Based on data from MarketBeat, PepsiCo has a consensus rating of "Hold" and an average price target of $159.75.
Read Our Latest Stock Report on PepsiCo
PepsiCo Trading Up 2.2%
PEP traded up $2.82 during trading on Friday, reaching $131.04. The company had a trading volume of 26,530,795 shares, compared to its average volume of 6,977,393. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The stock has a market cap of $179.67 billion, a P/E ratio of 19.27, a PEG ratio of 3.68 and a beta of 0.45. The business has a 50 day simple moving average of $132.07 and a 200-day simple moving average of $143.22.
PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. During the same period in the prior year, the firm posted $1.61 earnings per share. PepsiCo's revenue for the quarter was down 1.8% on a year-over-year basis. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.
PepsiCo Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be paid a dividend of $1.4225 per share. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.34%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo's dividend payout ratio (DPR) is currently 83.68%.
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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