Resurgent Financial Advisors LLC Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Posted by on Jun 15th, 2023

Resurgent Financial Advisors LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,262 shares of the company’s stock after selling 222 shares during the quarter. Resurgent Financial Advisors LLC’s holdings in PepsiCo were worth $1,493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Wellington Shields & Co. LLC boosted its holdings in PepsiCo by 1.7% during the 4th quarter. Wellington Shields & Co. LLC now owns 5,913 shares of the company’s stock worth $1,068,000 after acquiring an additional 100 shares during the last quarter. Wellington Shields Capital Management LLC boosted its holdings in shares of PepsiCo by 2.5% in the 4th quarter. Wellington Shields Capital Management LLC now owns 6,133 shares of the company’s stock worth $1,108,000 after buying an additional 150 shares during the last quarter. Harbour Investments Inc. boosted its holdings in shares of PepsiCo by 13.2% in the 4th quarter. Harbour Investments Inc. now owns 21,723 shares of the company’s stock worth $3,924,000 after buying an additional 2,525 shares during the last quarter. Silverlake Wealth Management LLC purchased a new position in shares of PepsiCo in the 4th quarter worth about $648,000. Finally, Gateway Wealth Partners LLC purchased a new position in shares of PepsiCo in the 4th quarter worth about $710,000. 70.76% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.9 %

Shares of PEP opened at $183.17 on Thursday. The business’s 50-day moving average price is $187.31 and its 200-day moving average price is $180.74. PepsiCo, Inc. has a twelve month low of $155.11 and a twelve month high of $196.88. The stock has a market cap of $252.35 billion, a PE ratio of 38.56, a P/E/G ratio of 3.17 and a beta of 0.54. 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 announced its quarterly earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.13. The firm 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 company’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.29 earnings per share. On average, equities analysts forecast that PepsiCo, Inc. will post 7.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be given a $1.265 dividend. This represents a $5.06 annualized dividend and a dividend yield of 2.76%. This is a boost from PepsiCo’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Thursday, June 1st. PepsiCo’s dividend payout ratio is 106.53%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price target on shares of PepsiCo from $187.00 to $196.00 in a report on Wednesday, April 26th. UBS Group boosted their price target on shares of PepsiCo from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Royal Bank of Canada boosted their price objective on PepsiCo from $175.00 to $178.00 in a research note on Wednesday, April 26th. Sanford C. Bernstein upgraded PepsiCo from an “underperform” rating to a “market perform” rating in a research note on Monday, March 20th. Finally, Morgan Stanley boosted 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 issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $190.25.

PepsiCo Company Profile

(Get Rating)

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).

Featured Stories

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.