HB Wealth Management LLC Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• HB Wealth Management LLC increased its stake in PepsiCo, Inc. by 36.9%, owning 139,676 shares valued at approximately $20.9 million.
• PepsiCo reported a quarterly earnings per share (EPS) of $2.12, exceeding the consensus estimate of $2.03, with revenue of $22.73 billion for the quarter.
• The company has announced a quarterly dividend of $1.4225 per share, representing an annualized dividend of $5.69 and a yield of 3.97%.

HB Wealth Management LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 36.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 139,676 shares of the company's stock after purchasing an additional 37,629 shares during the period. HB Wealth Management LLC's holdings in PepsiCo were worth $20,943,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Angeles Wealth Management LLC raised its holdings in shares of PepsiCo by 5.3% in the first quarter. Angeles Wealth Management LLC now owns 14,741 shares of the company's stock valued at $2,210,000 after buying an additional 740 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in shares of PepsiCo by 37.1% in the first quarter. Mediolanum International Funds Ltd now owns 173,810 shares of the company's stock valued at $25,945,000 after buying an additional 46,994 shares during the last quarter. Nvwm LLC raised its holdings in shares of PepsiCo by 5.2% in the first quarter. Nvwm LLC now owns 9,196 shares of the company's stock valued at $1,379,000 after buying an additional 451 shares during the last quarter. First Heartland Consultants Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at about $542,000. Finally, Bell & Brown Wealth Advisors LLC raised its holdings in shares of PepsiCo by 7.8% in the first quarter. Bell & Brown Wealth Advisors LLC now owns 19,660 shares of the company's stock valued at $2,948,000 after buying an additional 1,428 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $148.00 target price on shares of PepsiCo in a report on Tuesday, June 24th. Morgan Stanley upped their target price on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Wells Fargo & Company lifted their target price on shares of PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. UBS Group lowered their target price on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, PepsiCo currently has a consensus rating of "Hold" and an average price target of $158.73.

PepsiCo Stock Performance

Shares of PEP opened at $143.45 on Friday. PepsiCo, Inc. has a 52-week low of $127.60 and a 52-week high of $180.91. The company has a quick ratio of 0.60, a current ratio of 0.78 and a debt-to-equity ratio of 2.12. The company has a 50-day simple moving average of $133.58 and a 200-day simple moving average of $141.03. The company has a market capitalization of $196.39 billion, a PE ratio of 26.13, a P/E/G ratio of 3.85 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The company reported $2.12 EPS for the quarter, topping the consensus estimate of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The business had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same period in the previous year, the firm earned $2.28 EPS. The business's revenue for the quarter was up 1.0% compared to the same quarter last year. Equities research analysts predict that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, September 5th. This represents a $5.69 annualized dividend and a dividend yield of 3.97%. PepsiCo's dividend payout ratio is presently 103.64%.

PepsiCo Company 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.

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