PepsiCo, Inc. (NASDAQ:PEP) Position Reduced by Capital Investment Advisors LLC

Posted by on Jun 21st, 2023

Capital Investment Advisors LLC trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 8.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,067 shares of the company’s stock after selling 3,782 shares during the quarter. Capital Investment Advisors LLC’s holdings in PepsiCo were worth $7,487,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PEP. Vanguard Group Inc. increased its holdings in shares of PepsiCo by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 128,842,451 shares of the company’s stock worth $21,034,819,000 after acquiring an additional 1,611,639 shares during the period. State Street Corp increased its holdings in shares of PepsiCo by 0.7% in the 3rd quarter. State Street Corp now owns 59,634,823 shares of the company’s stock worth $9,735,981,000 after acquiring an additional 423,426 shares during the period. Moneta Group Investment Advisors LLC increased its holdings in shares of PepsiCo by 95,514.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock worth $7,746,023,000 after acquiring an additional 42,831,405 shares during the period. Morgan Stanley increased its holdings in shares of PepsiCo by 21.0% in the 4th quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock worth $4,827,240,000 after acquiring an additional 4,629,947 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of PepsiCo by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 25,637,180 shares of the company’s stock worth $4,622,579,000 after acquiring an additional 267,641 shares during the period. 75.46% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PEP has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of PepsiCo from $188.00 to $193.00 in a research report on Wednesday, April 26th. JPMorgan Chase & Co. increased their target price on shares of PepsiCo from $190.00 to $196.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Barclays increased their target price on shares of PepsiCo from $201.00 to $206.00 in a research report on Thursday, April 27th. Wells Fargo & Company increased their target price on shares of PepsiCo from $187.00 to $196.00 in a research report on Wednesday, April 26th. Finally, StockNews.com initiated coverage on shares of PepsiCo in a research report on Thursday, May 18th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $190.25.

PepsiCo Stock Performance

NASDAQ:PEP opened at $185.31 on Wednesday. PepsiCo, Inc. has a twelve month low of $157.35 and a twelve month high of $196.88. The company has a current ratio of 0.87, a quick ratio of 0.65 and a debt-to-equity ratio of 2.18. The company has a 50-day moving average of $187.46 and a 200-day moving average of $181.13. The firm has a market cap of $255.30 billion, a price-to-earnings ratio of 39.01, a price-to-earnings-growth ratio of 3.25 and a beta of 0.54.

PepsiCo (NASDAQ:PEP – Get Rating) last announced 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 net margin of 7.48% and a return on equity of 53.68%. The company had revenue of $17.85 billion during the quarter, compared to analysts’ expectations of $17.27 billion. During the same period last year, the company posted $1.29 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Analysts forecast that PepsiCo, Inc. will post 7.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders 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 2.73%. 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 (DPR) is presently 106.53%.

About PepsiCo

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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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