GAMMA Investing LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 28.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,603 shares of the company's stock after purchasing an additional 6,712 shares during the period. GAMMA Investing LLC's holdings in PepsiCo were worth $4,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its stake in PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company's stock worth $9,031,000 after acquiring an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of PepsiCo by 2.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company's stock valued at $71,527,000 after purchasing an additional 11,538 shares in the last quarter. NewEdge Wealth LLC lifted its position in PepsiCo by 2.8% during the fourth quarter. NewEdge Wealth LLC now owns 36,193 shares of the company's stock valued at $5,504,000 after purchasing an additional 996 shares during the last quarter. Whipplewood Advisors LLC bought a new stake in shares of PepsiCo in the 4th quarter worth about $70,000. Finally, GenTrust LLC raised its position in shares of PepsiCo by 6.3% during the 4th quarter. GenTrust LLC now owns 1,450 shares of the company's stock valued at $222,000 after buying an additional 86 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on PEP shares. Royal Bank Of Canada restated a "sector perform" rating and set a $148.00 price objective on shares of PepsiCo in a research report on Tuesday. Morgan Stanley dropped their price objective on shares of PepsiCo from $168.00 to $153.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Jefferies Financial Group downgraded shares of PepsiCo from a "buy" rating to a "hold" rating and reduced their target price for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. JPMorgan Chase & Co. lifted their price target on shares of PepsiCo from $158.00 to $159.00 and gave the stock a "neutral" rating in a research note on Monday, April 21st. Finally, Barclays cut their price target on shares of PepsiCo from $143.00 to $135.00 and set an "equal weight" rating on the stock in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, PepsiCo presently has an average rating of "Hold" and an average target price of $159.75.
Check Out Our Latest Research Report on PEP
PepsiCo Stock Up 2.2%
Shares of PEP traded up $2.82 during midday trading on Friday, reaching $131.04. 26,530,795 shares of the stock were exchanged, compared to its average volume of 6,977,394. 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 50 day moving average is $131.83 and its two-hundred day moving average is $143.02. The company has a market capitalization of $179.67 billion, a P/E ratio of 19.27, a PEG ratio of 3.68 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91.
PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The business had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. The company's revenue for the quarter was down 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.
PepsiCo Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This is an increase from PepsiCo's previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.34%. PepsiCo's dividend payout ratio (DPR) is currently 83.68%.
About PepsiCo
(
Free Report)
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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