Exchange Traded Concepts LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 9.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,485 shares of the company’s stock after purchasing an additional 3,860 shares during the period. Exchange Traded Concepts LLC’s holdings in PepsiCo were worth $7,927,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in PEP. Clear Investment Research LLC bought a new position in shares of PepsiCo during the fourth quarter valued at $25,000. Freedom Wealth Alliance LLC bought a new position in shares of PepsiCo during the fourth quarter valued at $29,000. Legend Financial Advisors Inc. raised 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 valued at $30,000 after acquiring an additional 93 shares during the last quarter. Red Tortoise LLC bought a new position in shares of PepsiCo during the fourth quarter valued at $30,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position 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 acquiring an additional 151 shares during the last quarter. Institutional investors own 75.46% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have recently issued reports on PEP shares. JPMorgan Chase & Co. raised their price objective on PepsiCo from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. UBS Group lifted their target price on shares of PepsiCo from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Sanford C. Bernstein raised shares of PepsiCo from an “underperform” rating to a “market perform” rating in a research note on Monday, March 20th. Morgan Stanley lifted their target price on shares of PepsiCo from $200.00 to $210.00 in a research note on Tuesday, April 25th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $190.25.
PepsiCo Trading Down 0.7 %
PepsiCo (NASDAQ:PEP – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.37 by $0.13. The firm had revenue of $17.85 billion during the quarter, compared to the consensus estimate of $17.27 billion. PepsiCo had a return on equity of 53.68% and a net margin of 7.48%. The company’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.29 earnings per share. As a group, equities analysts expect that PepsiCo, Inc. will post 7.3 earnings per share for the current fiscal year.
PepsiCo Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 2nd will be given a dividend of $1.265 per share. The ex-dividend date of this dividend is Thursday, June 1st. This is an increase from PepsiCo’s previous quarterly dividend of $1.15. This represents a $5.06 annualized dividend and a dividend yield of 2.72%. PepsiCo’s payout ratio is presently 106.53%.
About PepsiCo
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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