Cascade Investment Group Inc. Buys Shares of 1,228 PepsiCo, Inc. (NASDAQ:PEP)

Posted by on Jun 17th, 2023

Cascade Investment Group Inc. bought a new stake in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,228 shares of the company’s stock, valued at approximately $222,000.

Other hedge funds also recently added to or reduced their stakes in the company. Proquility Private Wealth Partners LLC raised its holdings in shares of PepsiCo by 1.1% during the 4th quarter. Proquility Private Wealth Partners LLC now owns 5,260 shares of the company’s stock worth $950,000 after buying an additional 57 shares in the last quarter. Wealth Advisory Solutions LLC increased its holdings in PepsiCo by 1.7% in the 3rd quarter. Wealth Advisory Solutions LLC now owns 3,545 shares of the company’s stock worth $579,000 after purchasing an additional 59 shares in the last quarter. Hofer & Associates. Inc increased its holdings in PepsiCo by 2.7% in the 3rd quarter. Hofer & Associates. Inc now owns 2,319 shares of the company’s stock worth $379,000 after purchasing an additional 60 shares in the last quarter. One Plus One Wealth Management LLC increased its holdings in PepsiCo by 2.0% in the 4th quarter. One Plus One Wealth Management LLC now owns 3,115 shares of the company’s stock worth $563,000 after purchasing an additional 60 shares in the last quarter. Finally, D Orazio & Associates Inc. increased its holdings in PepsiCo by 0.8% in the 4th quarter. D Orazio & Associates Inc. now owns 7,355 shares of the company’s stock worth $1,331,000 after purchasing an additional 60 shares in the last quarter. 70.76% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.2 %

NASDAQ PEP opened at $186.04 on Friday. The business has a 50 day simple moving average of $187.39 and a 200 day simple moving average of $180.94. PepsiCo, Inc. has a one year low of $156.16 and a one year high of $196.88. The stock has a market capitalization of $256.31 billion, a P/E ratio of 39.17, a P/E/G ratio of 3.24 and a beta of 0.54. 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 released its earnings results on Tuesday, April 25th. The company reported $1.50 EPS for the quarter, topping 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 business 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 posted $1.29 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Research analysts expect that PepsiCo, Inc. will post 7.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be paid a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, June 1st. This is a boost from PepsiCo’s previous quarterly dividend of $1.15. PepsiCo’s dividend payout ratio (DPR) is 106.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PEP shares. Morgan Stanley upped their target price on PepsiCo from $200.00 to $210.00 in a report on Tuesday, April 25th. Deutsche Bank Aktiengesellschaft upped their price target on PepsiCo from $188.00 to $193.00 in a research report on Wednesday, April 26th. StockNews.com started coverage on PepsiCo in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Barclays increased their price target on PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. Finally, JPMorgan Chase & Co. increased their price target on PepsiCo from $190.00 to $196.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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).

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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