PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Atwater Malick LLC

Posted by on Jun 14th, 2023

Atwater Malick LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 10.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,535 shares of the company’s stock after purchasing an additional 240 shares during the period. Atwater Malick LLC’s holdings in PepsiCo were worth $458,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Auto Owners Insurance Co purchased a new stake in shares of PepsiCo in the fourth quarter worth about $59,487,000. Azimuth Capital Investment Management LLC boosted its stake in shares of PepsiCo by 30.9% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 262,766 shares of the company’s stock worth $47,471,000 after buying an additional 62,016 shares during the last quarter. BOS Asset Management LLC purchased a new stake in shares of PepsiCo in the fourth quarter worth about $204,000. Freedom Wealth Alliance LLC purchased a new stake in shares of PepsiCo in the fourth quarter worth about $29,000. Finally, Aristotle Capital Management LLC boosted its stake in shares of PepsiCo by 4.6% in the fourth quarter. Aristotle Capital Management LLC now owns 33,299 shares of the company’s stock worth $6,016,000 after buying an additional 1,450 shares during the last quarter. 70.76% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $181.54 on Wednesday. The company has a market cap of $250.11 billion, a PE ratio of 38.22, a price-to-earnings-growth ratio of 3.19 and a beta of 0.54. The stock’s 50 day simple moving average is $187.34 and its 200-day simple moving average is $180.66. PepsiCo, Inc. has a 1-year low of $154.86 and a 1-year high of $196.88. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.87 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.37 by $0.13. PepsiCo had a return on equity of 53.68% and a net margin of 7.48%. The firm had revenue of $17.85 billion during the quarter, compared to analysts’ expectations of $17.27 billion. During the same quarter last year, the firm earned $1.29 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 7.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be issued a $1.265 dividend. This represents a $5.06 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Thursday, June 1st. This is a boost from PepsiCo’s previous quarterly dividend of $1.15. PepsiCo’s dividend payout ratio (DPR) is currently 106.53%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 26th. Barclays increased their price target on PepsiCo from $201.00 to $206.00 in a research report on Thursday, April 27th. Morgan Stanley increased their price target on PepsiCo from $200.00 to $210.00 in a research report on Tuesday, April 25th. Royal Bank of Canada increased their price target on PepsiCo from $175.00 to $178.00 in a research report on Wednesday, April 26th. Finally, StockNews.com initiated coverage on PepsiCo in a research report on Thursday, May 18th. They set a “buy” rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $190.25.

PepsiCo Profile

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PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of beverages, food, and snacks. It operates through the following business segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC).

Further Reading

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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