NewEdge Wealth LLC Has $6.10 Million Stock Position in PepsiCo, Inc. $PEP

Key Points

• NewEdge Wealth LLC increased its PepsiCo stake by 26.2% in the fourth quarter, ending with 42,473 shares worth about $6.1 million.
• Wall Street sentiment on PepsiCo remains mixed but generally neutral, with a consensus rating of “Hold” and an average price target of $170.26 despite several target increases from major banks.
• PepsiCo reported strong quarterly results, beating both earnings and revenue estimates, and also raised its quarterly dividend to $1.48 per share while maintaining a $10 billion share repurchase program.

NewEdge Wealth LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 26.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 42,473 shares of the company's stock after buying an additional 8,830 shares during the period. NewEdge Wealth LLC's holdings in PepsiCo were worth $6,096,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Triton Financial Group Inc boosted its stake in PepsiCo by 1.9% in the 4th quarter. Triton Financial Group Inc now owns 7,799 shares of the company's stock worth $1,119,000 after purchasing an additional 149 shares during the period. Drucker Wealth 3.0 LLC grew its position in shares of PepsiCo by 6.5% during the 4th quarter. Drucker Wealth 3.0 LLC now owns 11,424 shares of the company's stock worth $1,640,000 after purchasing an additional 693 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of PepsiCo by 8.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 92,566 shares of the company's stock worth $13,285,000 after acquiring an additional 7,089 shares in the last quarter. Ethic Inc. boosted its position in shares of PepsiCo by 16.1% during the 4th quarter. Ethic Inc. now owns 60,121 shares of the company's stock worth $8,629,000 after acquiring an additional 8,329 shares in the last quarter. Finally, Ballast Inc. boosted its position in shares of PepsiCo by 1.0% during the 4th quarter. Ballast Inc. now owns 8,726 shares of the company's stock worth $1,252,000 after acquiring an additional 84 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PEP shares. Citigroup increased their price target on shares of PepsiCo from $170.00 to $182.00 and gave the stock a "buy" rating in a research report on Wednesday, February 4th. JPMorgan Chase & Co. increased their price target on shares of PepsiCo from $172.00 to $178.00 and gave the stock an "overweight" rating in a research report on Friday, April 17th. Wells Fargo & Company increased their price target on shares of PepsiCo from $154.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 4th. Rothschild & Co Redburn increased their price target on shares of PepsiCo from $120.00 to $130.00 and gave the stock a "sell" rating in a research report on Tuesday, February 10th. Finally, Wall Street Zen lowered shares of PepsiCo from a "buy" rating to a "hold" rating in a research report on Saturday, April 18th. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $170.26.

Key Stories Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced a new partnership in the UAE’s Future Industries Lab to support SMEs and young Emiratis, reinforcing its innovation and local investment strategy. MoIAT expands Future Industries Lab with new PepsiCo partnership supporting SMEs and young Emiratis
• Positive Sentiment: PepsiCo and TalusAg Renewables announced a low-carbon ammonia agreement, an ESG-oriented move that could improve supply-chain sustainability and appeal to investors focused on emissions reduction. PepsiCo and TalusAg Renewables announce low-carbon ammonia attribute agreement to help accelerate fertilizer decarbonization
• Positive Sentiment: Multiple articles highlighted PepsiCo’s continued investment in China and its focus on international growth, product innovation, and cost discipline, which supports the long-term bull case. PepsiCo to 'continue investing' in Chinese market

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $154.62 on Monday. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $171.48. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The firm has a market capitalization of $211.33 billion, a P/E ratio of 24.27, a P/E/G ratio of 2.83 and a beta of 0.38. The company's 50 day moving average price is $157.25 and its two-hundred day moving average price is $152.50.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, beating analysts' consensus estimates of $1.55 by $0.06. The firm had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The company's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the business posted $1.48 earnings per share. On average, equities analysts forecast that PepsiCo, Inc. will post 8.63 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 3.8%. This is a boost from PepsiCo's previous quarterly dividend of $1.42. The ex-dividend date is Friday, June 5th. PepsiCo's dividend payout ratio (DPR) is presently 89.32%.

PepsiCo declared that its Board of Directors has approved a share repurchase program on Tuesday, February 3rd that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 4.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

PepsiCo 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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