Parr Mcknight Wealth Management Group LLC Buys Shares of 30,645 PepsiCo, Inc. (NASDAQ:PEP)

Parr Mcknight Wealth Management Group LLC purchased a new position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 30,645 shares of the company's stock, valued at approximately $4,660,000.

A number of other hedge funds have also recently made changes to their positions in PEP. Vanguard Group Inc. lifted its holdings in shares of PepsiCo by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company's stock valued at $20,280,471,000 after purchasing an additional 1,376,133 shares during the last quarter. Geode Capital Management LLC raised its stake in PepsiCo by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company's stock valued at $4,717,069,000 after buying an additional 582,254 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in PepsiCo by 18.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company's stock worth $3,834,504,000 after acquiring an additional 3,856,193 shares in the last quarter. Norges Bank purchased a new stake in shares of PepsiCo during the fourth quarter worth about $2,729,565,000. Finally, Northern Trust Corp increased its holdings in shares of PepsiCo by 8.7% during the fourth quarter. Northern Trust Corp now owns 16,403,395 shares of the company's stock valued at $2,494,300,000 after acquiring an additional 1,306,818 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PEP. UBS Group dropped their target price on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. BNP Paribas lowered their price objective on shares of PepsiCo from $162.00 to $160.00 and set a "neutral" rating for the company in a research note on Tuesday, February 4th. Wall Street Zen downgraded PepsiCo from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. Royal Bank of Canada restated a "sector perform" rating and issued a $163.00 target price on shares of PepsiCo in a research note on Tuesday, April 22nd. Finally, Bank of America dropped their price target on PepsiCo from $155.00 to $150.00 and set a "neutral" rating on the stock in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, PepsiCo currently has a consensus rating of "Hold" and an average target price of $160.69.

PepsiCo Stock Performance

PEP opened at $130.12 on Friday. The firm has a fifty day moving average price of $139.93 and a 200 day moving average price of $148.69. PepsiCo, Inc. has a 1 year low of $127.87 and a 1 year high of $181.89. The stock has a market cap of $178.40 billion, a P/E ratio of 18.72, a P/E/G ratio of 3.09 and a beta of 0.47. 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 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 firm had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. During the same period in the previous year, the company earned $1.61 earnings per share. The company's revenue was down 1.8% compared to the same quarter last year. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.37%. 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.

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