Turtle Creek Wealth Advisors LLC Acquires Shares of 25,450 PepsiCo, Inc. (NASDAQ:PEP)

Turtle Creek Wealth Advisors LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 25,450 shares of the company's stock, valued at approximately $3,816,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. WealthTrak Capital Management LLC bought a new position in PepsiCo in the 4th quarter valued at approximately $28,000. Elite Financial Inc. bought a new position in PepsiCo in the 1st quarter valued at approximately $28,000. Prudent Man Investment Management Inc. bought a new position in PepsiCo in the 4th quarter valued at approximately $30,000. Measured Risk Portfolios Inc. bought a new position in PepsiCo in the 4th quarter valued at approximately $31,000. Finally, Summit Securities Group LLC bought a new position in PepsiCo in the 4th quarter valued at approximately $33,000. Institutional investors own 73.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PEP shares. Barclays dropped their price objective on shares of PepsiCo from $135.00 to $132.00 and set an "equal weight" rating for the company in a research note on Tuesday. Citigroup decreased their price target on shares of PepsiCo from $170.00 to $160.00 and set a "buy" rating for the company in a research report on Friday, April 25th. Dbs Bank cut shares of PepsiCo from a "strong-buy" rating to a "hold" rating in a research report on Friday, May 9th. Morgan Stanley restated an "equal weight" rating on shares of PepsiCo in a research report on Thursday. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $148.00 price target on shares of PepsiCo in a research report on Tuesday, June 24th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $158.00.

PepsiCo Trading Up 7.5%

Shares of PEP traded up $10.09 during trading hours on Thursday, hitting $145.44. 26,154,400 shares of the stock were exchanged, compared to its average volume of 7,201,867. PepsiCo, Inc. has a fifty-two week low of $127.60 and a fifty-two week high of $180.91. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65. The business has a 50-day moving average of $131.97 and a 200-day moving average of $141.24. The firm has a market capitalization of $199.41 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 4.23 and a beta of 0.45.

PepsiCo (NASDAQ:PEP - Get Free Report) last issued its earnings results on Thursday, July 17th. The company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.09. The business had revenue of $22.73 billion for the quarter, compared to analyst estimates of $22.28 billion. PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. PepsiCo's revenue was up 1.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.28 earnings per share. On average, research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were paid a $1.4225 dividend. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.91%. This is a positive change from PepsiCo's previous quarterly dividend of $1.36. The ex-dividend date was Friday, June 6th. PepsiCo's dividend payout ratio (DPR) 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.