Smith Salley Wealth Management Has $18.77 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Smith Salley Wealth Management boosted its stake in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,165 shares of the company's stock after buying an additional 2,119 shares during the period. PepsiCo accounts for approximately 1.2% of Smith Salley Wealth Management's investment portfolio, making the stock its 27th largest holding. Smith Salley Wealth Management's holdings in PepsiCo were worth $18,767,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of PepsiCo by 12.4% in the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after purchasing an additional 6,574 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in PepsiCo by 2.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after buying an additional 11,538 shares during the period. SBI Securities Co. Ltd. bought a new stake in shares of PepsiCo during the 4th quarter worth about $2,125,000. Plato Investment Management Ltd boosted its holdings in shares of PepsiCo by 0.3% in the fourth quarter. Plato Investment Management Ltd now owns 53,855 shares of the company's stock valued at $8,219,000 after acquiring an additional 142 shares in the last quarter. Finally, Sonoma Private Wealth LLC acquired a new position in shares of PepsiCo during the fourth quarter valued at approximately $449,000. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on PEP shares. Jefferies Financial Group lowered PepsiCo from a "buy" rating to a "hold" rating and decreased their price target for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. Barclays dropped their price target on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a research report on Monday, April 28th. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research note on Thursday, April 24th. Dbs Bank downgraded shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a report on Friday, May 9th. Finally, UBS Group reduced their target price on shares of PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a report 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 stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $159.75.

PepsiCo Stock Up 0.9%

NASDAQ PEP traded up $1.22 during trading on Wednesday, reaching $136.48. 9,386,258 shares of the company's stock were exchanged, compared to its average volume of 7,040,285. The firm has a market capitalization of $187.12 billion, a PE ratio of 20.07, a P/E/G ratio of 4.23 and a beta of 0.45. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $180.91. The company has a current ratio of 0.83, a quick ratio of 0.65 and a debt-to-equity ratio of 2.13. The company's fifty day simple moving average is $131.47 and its 200-day simple moving average is $142.58.

PepsiCo (NASDAQ:PEP - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to analysts' expectations of $17.81 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The business's revenue for the quarter was down 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.61 earnings per share. Sell-side analysts predict 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 paid a $1.4225 dividend. The ex-dividend date was Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.17%. This is an increase from PepsiCo's previous quarterly dividend of $1.36. PepsiCo's payout ratio is 83.68%.

About PepsiCo

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.