Pallas Capital Advisors LLC Purchases 7,082 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Pallas Capital Advisors LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 272.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,678 shares of the company's stock after buying an additional 7,082 shares during the quarter. Pallas Capital Advisors LLC's holdings in PepsiCo were worth $1,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PEP. WFA Asset Management Corp increased its stake in PepsiCo by 11.6% in the 1st quarter. WFA Asset Management Corp now owns 1,941 shares of the company's stock worth $291,000 after purchasing an additional 202 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of PepsiCo by 35.2% in the first quarter. Farther Finance Advisors LLC now owns 39,147 shares of the company's stock worth $5,859,000 after purchasing an additional 10,187 shares during the last quarter. CHICAGO TRUST Co NA increased its stake in shares of PepsiCo by 5.1% in the first quarter. CHICAGO TRUST Co NA now owns 24,036 shares of the company's stock worth $3,604,000 after buying an additional 1,174 shares during the period. Range Financial Group LLC raised its holdings in PepsiCo by 40.6% during the 1st quarter. Range Financial Group LLC now owns 3,214 shares of the company's stock valued at $482,000 after buying an additional 928 shares during the last quarter. Finally, Portside Wealth Group LLC grew its holdings in PepsiCo by 8.0% in the 1st quarter. Portside Wealth Group LLC now owns 11,414 shares of the company's stock worth $1,711,000 after acquiring an additional 849 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research note on Thursday, April 24th. Citigroup dropped their price objective on PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a report on Friday, April 25th. Royal Bank of Canada reissued a "sector perform" rating and set a $163.00 target price on shares of PepsiCo in a research note on Tuesday, April 22nd. UBS Group dropped their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Finally, Bank of America reduced their price objective 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. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $160.69.

PepsiCo Stock Down 1.1%

PEP stock traded down $1.45 on Friday, reaching $130.85. 9,576,757 shares of the company traded hands, compared to its average volume of 6,663,989. The firm has a fifty day simple moving average of $134.82 and a 200-day simple moving average of $145.42. The company has a market cap of $179.41 billion, a P/E ratio of 18.83, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. PepsiCo, Inc. has a one year low of $127.75 and a one year high of $180.91. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (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 company had revenue of $17.92 billion during the quarter, compared to analysts' expectations of $17.81 billion. During the same period in the prior year, the firm earned $1.61 EPS. PepsiCo's revenue for the quarter was down 1.8% compared to the same quarter last year. Research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a dividend of $1.4225 per share. The ex-dividend date of this dividend is 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 dividend yield of 4.35%. PepsiCo's dividend payout ratio (DPR) is 83.68%.

PepsiCo 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.