Wellington Shields Capital Management LLC Buys 150 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Posted by on Jun 15th, 2023

Wellington Shields Capital Management LLC grew its holdings in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,133 shares of the company’s stock after acquiring an additional 150 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in PepsiCo were worth $1,108,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Mawer Investment Management Ltd. raised its stake in shares of PepsiCo by 1.6% in the fourth quarter. Mawer Investment Management Ltd. now owns 448,860 shares of the company’s stock valued at $81,091,000 after purchasing an additional 7,122 shares in the last quarter. Suncoast Equity Management raised its stake in shares of PepsiCo by 15.2% in the fourth quarter. Suncoast Equity Management now owns 8,345 shares of the company’s stock valued at $1,508,000 after purchasing an additional 1,100 shares in the last quarter. AXS Investments LLC raised its stake in shares of PepsiCo by 1.0% in the fourth quarter. AXS Investments LLC now owns 6,203 shares of the company’s stock valued at $1,121,000 after purchasing an additional 62 shares in the last quarter. Renaissance Investment Group LLC raised its stake in shares of PepsiCo by 1.9% in the fourth quarter. Renaissance Investment Group LLC now owns 48,250 shares of the company’s stock valued at $8,717,000 after purchasing an additional 899 shares in the last quarter. Finally, BNC Wealth Management LLC acquired a new position in shares of PepsiCo in the fourth quarter valued at $869,000. 70.76% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of recent research reports. StockNews.com assumed coverage on PepsiCo in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Barclays increased their price objective on PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. Wells Fargo & Company increased their price objective on PepsiCo from $187.00 to $196.00 in a research note on Wednesday, April 26th. UBS Group increased their price objective on PepsiCo from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Finally, Morgan Stanley increased their price objective on PepsiCo from $200.00 to $210.00 in a research note on Tuesday, April 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, PepsiCo currently has an average rating of “Hold” and an average target price of $190.25.

PepsiCo Price Performance

PepsiCo stock opened at $183.17 on Thursday. The business’s 50-day simple moving average is $187.31 and its 200 day simple moving average is $180.74. The stock has a market cap of $252.35 billion, a price-to-earnings ratio of 38.56, a P/E/G ratio of 3.18 and a beta of 0.54. PepsiCo, Inc. has a 12-month low of $155.11 and a 12-month high of $196.88. The company has a quick ratio of 0.65, a current ratio of 0.87 and a debt-to-equity ratio of 2.18.

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

PepsiCo Increases Dividend

The company 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 is a boost from PepsiCo’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $5.06 annualized dividend and a yield of 2.76%. PepsiCo’s dividend payout ratio (DPR) is currently 106.53%.

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).

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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