HBW Advisory Services LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 6.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,489 shares of the company’s stock after selling 243 shares during the period. HBW Advisory Services LLC’s holdings in PepsiCo were worth $636,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also modified their holdings of the company. Clear Investment Research LLC acquired a new position in shares of PepsiCo during the fourth quarter worth $25,000. Freedom Wealth Alliance LLC acquired a new position in shares of PepsiCo during the fourth quarter worth $29,000. Red Tortoise LLC acquired a new position in shares of PepsiCo during the fourth quarter worth $30,000. Legend Financial Advisors Inc. grew its stake in shares of PepsiCo by 125.7% during the fourth quarter. Legend Financial Advisors Inc. now owns 167 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. grew its stake in shares of PepsiCo by 604.0% during the fourth quarter. CarsonAllaria Wealth Management Ltd. now owns 176 shares of the company’s stock worth $32,000 after purchasing an additional 151 shares in the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on PEP. Wells Fargo & Company boosted their target price on shares of PepsiCo from $187.00 to $196.00 in a research note on Wednesday, April 26th. Morgan Stanley upped their price objective on shares of PepsiCo from $200.00 to $210.00 in a research note on Tuesday, April 25th. StockNews.com initiated coverage on shares of PepsiCo in a research note on Thursday, May 18th. They issued a “buy” rating for the company. Barclays upped their price objective on shares of PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $190.25.
PepsiCo Stock Performance
PepsiCo (NASDAQ:PEP – Get Rating) last announced its earnings results on Tuesday, April 25th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. The business had revenue of $17.85 billion during the quarter, compared to analysts’ expectations of $17.27 billion. PepsiCo had a net margin of 7.48% and a return on equity of 53.68%. The business’s revenue was up 10.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.29 earnings per share. As a group, research analysts forecast that PepsiCo, Inc. will post 7.3 EPS for the current fiscal 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 dividend of $1.265 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.15. This represents a $5.06 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, June 1st. PepsiCo’s dividend payout ratio is currently 106.53%.
PepsiCo Profile
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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