OneAscent Financial Services LLC Buys 6,764 Shares of PepsiCo, Inc. (NASDAQ:PEP)

OneAscent Financial Services LLC grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 130.8% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 11,936 shares of the company's stock after purchasing an additional 6,764 shares during the period. OneAscent Financial Services LLC's holdings in PepsiCo were worth $1,788,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WealthTrak Capital Management LLC bought a new position in shares of PepsiCo during the 4th quarter valued at approximately $28,000. Elite Financial Inc. bought a new position in PepsiCo in the 1st quarter worth approximately $28,000. Prudent Man Investment Management Inc. bought a new position in PepsiCo in the 4th quarter worth approximately $30,000. Measured Risk Portfolios Inc. bought a new position in PepsiCo in the 4th quarter worth approximately $31,000. Finally, Summit Securities Group LLC bought a new position in PepsiCo in the 4th quarter worth approximately $33,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Down 1.5%

Shares of PEP opened at $143.24 on Friday. The firm's 50-day moving average price is $132.23 and its 200-day moving average price is $141.11. The firm has a market capitalization of $196.39 billion, a price-to-earnings ratio of 26.09, a PEG ratio of 4.38 and a beta of 0.45. The company has a current ratio of 0.78, a quick ratio of 0.65 and a debt-to-equity ratio of 2.12. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $180.91.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a net margin of 8.23% and a return on equity of 57.81%. The firm had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. During the same quarter in the previous year, the firm posted $2.28 EPS. The company's revenue for the quarter was up 1.0% compared to the same quarter last year. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were issued a $1.4225 dividend. The ex-dividend date of this dividend was Friday, June 6th. This is a boost from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 3.97%. PepsiCo's payout ratio is 103.64%.

Analyst Ratings Changes

Several research analysts have commented on PEP shares. Barclays cut their price target on shares of PepsiCo from $135.00 to $132.00 and set an "equal weight" rating for the company in a report on Tuesday, July 15th. Citigroup raised their price target on shares of PepsiCo from $160.00 to $168.00 and gave the company a "buy" rating in a report on Friday. JPMorgan Chase & Co. lowered their price objective on shares of PepsiCo from $150.00 to $139.00 and set a "neutral" rating on the stock in a research report on Thursday, July 10th. Deutsche Bank Aktiengesellschaft restated a "buy" rating on shares of PepsiCo in a research report on Thursday. Finally, Morgan Stanley raised their price objective on shares of PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, PepsiCo has a consensus rating of "Hold" and an average price target of $157.93.

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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