ProVise Management Group LLC Purchases 3,811 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Key Points

• ProVise Management Group LLC increased its holdings in PepsiCo, Inc. by 17.7%, owning 25,338 shares worth approximately $3.8 million as of the end of the first quarter.
• PepsiCo reported earnings of $2.12 per share for its latest quarter, surpassing expectations, with a revenue increase of 1.0% year-over-year.
• The company announced a quarterly dividend of $1.4225 per share, resulting in an annualized dividend yield of 4.1%, with a payout ratio of 103.64%.

ProVise Management Group LLC boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 17.7% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 25,338 shares of the company's stock after buying an additional 3,811 shares during the period. ProVise Management Group LLC's holdings in PepsiCo were worth $3,799,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Legacy Financial Group LLC boosted its holdings in shares of PepsiCo by 4.9% in the 1st quarter. Legacy Financial Group LLC now owns 1,514 shares of the company's stock valued at $227,000 after buying an additional 71 shares during the last quarter. Pflug Koory LLC boosted its holdings in shares of PepsiCo by 1.0% in the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company's stock valued at $1,162,000 after buying an additional 76 shares during the last quarter. Hoge Financial Services LLC boosted its holdings in shares of PepsiCo by 2.1% in the 1st quarter. Hoge Financial Services LLC now owns 3,633 shares of the company's stock valued at $545,000 after buying an additional 76 shares during the last quarter. Members Trust Co boosted its holdings in shares of PepsiCo by 1.3% in the 1st quarter. Members Trust Co now owns 5,941 shares of the company's stock valued at $891,000 after buying an additional 77 shares during the last quarter. Finally, Fairview Capital Investment Management LLC boosted its holdings in shares of PepsiCo by 2.3% in the 4th quarter. Fairview Capital Investment Management LLC now owns 3,526 shares of the company's stock valued at $536,000 after buying an additional 78 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley raised their price target on PepsiCo from $153.00 to $165.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. Evercore ISI set a $140.00 price target on PepsiCo in a report on Thursday, April 24th. UBS Group cut their price target on PepsiCo from $175.00 to $169.00 and set a "buy" rating for the company in a report on Friday, April 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of PepsiCo in a report on Thursday, July 17th. Finally, Wells Fargo & Company raised their price target on PepsiCo from $140.00 to $154.00 and gave the company an "equal weight" rating in a report on Friday, July 18th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $158.73.

PepsiCo Price Performance

PepsiCo stock traded up $1.36 during midday trading on Friday, reaching $139.28. The company's stock had a trading volume of 7,606,047 shares, compared to its average volume of 9,347,638. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $180.91. The company has a current ratio of 0.78, a quick ratio of 0.60 and a debt-to-equity ratio of 2.12. The business has a 50-day moving average price of $134.63 and a 200-day moving average price of $140.89. The stock has a market cap of $190.69 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 3.67 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last released its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.03 by $0.09. PepsiCo had a return on equity of 57.81% and a net margin of 8.23%. The firm had revenue of $22.73 billion for the quarter, compared to analysts' expectations of $22.28 billion. During the same quarter in the previous year, the business posted $2.28 earnings per share. The business's revenue for the quarter was up 1.0% on a year-over-year basis. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Friday, September 5th. PepsiCo's payout ratio is 103.64%.

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.