PepsiCo, Inc. $PEP Shares Purchased by Diamant Asset Management Inc.

Key Points

• Diamant Asset Management massively increased its PepsiCo stake in the first quarter, buying more than 3.56 million additional shares and bringing its total position to 3.59 million shares valued at about $556.9 million.
• Wall Street sentiment is mixed but generally cautious: several analysts cut their price targets on PepsiCo, and the stock currently carries an average rating of “Hold” with an average target price of $166.85.
• PepsiCo continues to reward shareholders, recently raising its quarterly dividend to $1.48 per share, which translates to an annualized yield of about 4.2% and extends its long record of dividend growth.

Diamant Asset Management Inc. grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 16,146.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,586,423 shares of the company's stock after acquiring an additional 3,564,348 shares during the quarter. PepsiCo comprises about 1.8% of Diamant Asset Management Inc.'s investment portfolio, making the stock its 14th largest holding. Diamant Asset Management Inc. owned about 0.26% of PepsiCo worth $556,936,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Boomfish Wealth Group LLC boosted its stake in PepsiCo by 4.3% during the 1st quarter. Boomfish Wealth Group LLC now owns 10,775 shares of the company's stock valued at $1,673,000 after purchasing an additional 440 shares during the period. Adams Diversified Equity Fund Inc. increased its stake in shares of PepsiCo by 358.3% in the first quarter. Adams Diversified Equity Fund Inc. now owns 176,776 shares of the company's stock valued at $27,452,000 after purchasing an additional 138,200 shares during the period. Cornerstone Wealth Group LLC raised its holdings in shares of PepsiCo by 1.7% during the first quarter. Cornerstone Wealth Group LLC now owns 58,338 shares of the company's stock valued at $9,038,000 after buying an additional 980 shares during the last quarter. Onyx Bridge Wealth Group LLC grew its holdings in PepsiCo by 2.5% in the 1st quarter. Onyx Bridge Wealth Group LLC now owns 2,673 shares of the company's stock worth $415,000 after buying an additional 66 shares in the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in PepsiCo by 5.4% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 422,083 shares of the company's stock valued at $65,545,000 after acquiring an additional 21,538 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PEP shares. Citigroup cut their price objective on shares of PepsiCo from $182.00 to $170.00 and set a "buy" rating on the stock in a research note on Thursday. Bank of America reduced their price target on shares of PepsiCo from $173.00 to $164.00 and set a "neutral" rating for the company in a research note on Thursday. Wells Fargo & Company dropped their target price on PepsiCo from $160.00 to $150.00 and set an "equal weight" rating on the stock in a report on Friday, June 5th. Royal Bank Of Canada decreased their price target on PepsiCo from $165.00 to $163.00 and set a "sector perform" rating for the company in a research note on Thursday, April 9th. Finally, Evercore lifted their price target on PepsiCo from $165.00 to $170.00 in a research report on Friday, April 17th. Eight analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $166.85.

PepsiCo Price Performance

PEP stock opened at $141.39 on Friday. The firm has a 50-day moving average of $148.40 and a two-hundred day moving average of $152.01. The firm has a market capitalization of $193.25 billion, a PE ratio of 22.20, a P/E/G ratio of 2.82 and a beta of 0.35. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98. PepsiCo, Inc. has a one year low of $128.11 and a one year high of $171.48.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.06. The business had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The firm's revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.48 earnings per share. On average, analysts forecast that PepsiCo, Inc. will post 8.62 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.48 per share. The ex-dividend date of this dividend is Friday, June 5th. This is a positive change from PepsiCo's previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 4.2%. PepsiCo's payout ratio is presently 92.94%.

Key Headlines Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo’s brand and growth efforts are getting fresh visibility, including marketing around “modern soda,” dirty-soda products, and broader consumer engagement. These trends could support beverage demand and help the company defend share in a changing soft-drink market.
• Positive Sentiment: Analyst support remains constructive overall: Citigroup kept a Buy rating even after trimming its price target to $170, implying meaningful upside from current levels. That helps reassure investors that the stock still looks attractively valued despite recent weakness.
• Positive Sentiment: PepsiCo continues to stand out as a diversified dividend stock, with coverage highlighting its 54-year streak of dividend growth. For income-oriented investors, that long track record can provide support ahead of earnings. Article Title

PepsiCo Company Profile

PepsiCo, Inc NASDAQ: PEP is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay's, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

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