My Legacy Advisors LLC Acquires 105 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Posted by on Jun 22nd, 2023

My Legacy Advisors LLC lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 1.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,986 shares of the company’s stock after purchasing an additional 105 shares during the period. My Legacy Advisors LLC’s holdings in PepsiCo were worth $1,463,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PEP. Royal Bank of Canada boosted their price target on PepsiCo from $175.00 to $178.00 in a research note on Wednesday, April 26th. Morgan Stanley lifted their price objective on PepsiCo from $200.00 to $210.00 in a report on Tuesday, April 25th. Barclays lifted their price objective on PepsiCo from $201.00 to $206.00 in a report on Thursday, April 27th. StockNews.com started coverage on PepsiCo in a report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on PepsiCo from $188.00 to $193.00 in a report on Wednesday, April 26th. One 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. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $190.25.

PepsiCo Stock Performance

PEP stock opened at $185.43 on Thursday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.87 and a quick ratio of 0.65. The company has a 50 day moving average price of $187.47 and a 200 day moving average price of $181.16. PepsiCo, Inc. has a fifty-two week low of $159.56 and a fifty-two week high of $196.88. The stock has a market capitalization of $255.47 billion, a PE ratio of 39.04, a price-to-earnings-growth ratio of 3.25 and a beta of 0.54.

PepsiCo (NASDAQ:PEP – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The company reported $1.50 earnings per share 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 firm had revenue of $17.85 billion during the quarter, compared to analysts’ expectations of $17.27 billion. During the same quarter in the previous year, the company posted $1.29 EPS. PepsiCo’s revenue was up 10.2% on a year-over-year basis. Analysts forecast that PepsiCo, Inc. will post 7.3 EPS for the current 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 yield of 2.73%. 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 payout ratio is 106.53%.

PepsiCo Profile

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PepsiCo, Inc manufactures, markets, distributes, and sells various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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