Brave Asset Management Inc. Has $239,000 Stake in PepsiCo, Inc. (NASDAQ:PEP)

Posted by on Jun 23rd, 2023

Brave Asset Management Inc. lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,309 shares of the company’s stock after buying an additional 59 shares during the quarter. Brave Asset Management Inc.’s holdings in PepsiCo were worth $239,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Trinity Legacy Partners LLC boosted its holdings in PepsiCo by 0.3% during the 1st quarter. Trinity Legacy Partners LLC now owns 31,270 shares of the company’s stock worth $5,701,000 after acquiring an additional 93 shares during the last quarter. Mawer Investment Management Ltd. boosted its holdings in shares of PepsiCo by 1.6% in the 4th quarter. Mawer Investment Management Ltd. now owns 448,860 shares of the company’s stock worth $81,091,000 after buying an additional 7,122 shares during the last quarter. Suncoast Equity Management boosted its holdings in shares of PepsiCo by 15.2% in the 4th quarter. Suncoast Equity Management now owns 8,345 shares of the company’s stock worth $1,508,000 after buying an additional 1,100 shares during the last quarter. AXS Investments LLC boosted its holdings in shares of PepsiCo by 1.0% in the 4th quarter. AXS Investments LLC now owns 6,203 shares of the company’s stock worth $1,121,000 after buying an additional 62 shares during the last quarter. Finally, Renaissance Investment Group LLC boosted its holdings in shares of PepsiCo by 1.9% in the 4th quarter. Renaissance Investment Group LLC now owns 48,250 shares of the company’s stock worth $8,717,000 after buying an additional 899 shares during the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PepsiCo from $188.00 to $193.00 in a report on Wednesday, April 26th. Wells Fargo & Company upped their price objective on shares of PepsiCo from $187.00 to $196.00 in a research report on Wednesday, April 26th. StockNews.com assumed coverage on shares of PepsiCo in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Barclays increased their price target on shares of PepsiCo from $201.00 to $206.00 in a research report on Thursday, April 27th. Finally, Royal Bank of Canada increased their price target on shares of PepsiCo from $175.00 to $178.00 in a research 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $190.25.

PepsiCo Price Performance

NASDAQ PEP opened at $187.35 on Friday. PepsiCo, Inc. has a one year low of $160.98 and a one year high of $196.88. The stock has a 50-day moving average of $187.52 and a 200 day moving average of $181.20. The company has a market capitalization of $258.11 billion, a price-to-earnings ratio of 39.44, a PEG ratio of 3.25 and a beta of 0.54. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.65 and a current ratio of 0.87.

PepsiCo (NASDAQ:PEP – Get Rating) last released its quarterly earnings data 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 company had revenue of $17.85 billion during the quarter, compared to the consensus estimate of $17.27 billion. During the same period last year, the company earned $1.29 EPS. PepsiCo’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, sell-side analysts forecast that PepsiCo, Inc. will post 7.3 EPS for the current year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be paid a dividend of $1.265 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.15. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Thursday, June 1st. PepsiCo’s payout ratio is currently 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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