PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Leavell Investment Management Inc.

Posted by on Jun 25th, 2023

Leavell Investment Management Inc. reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 5.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,558 shares of the company’s stock after selling 1,050 shares during the quarter. Leavell Investment Management Inc.’s holdings in PepsiCo were worth $3,566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PEP. Moneta Group Investment Advisors LLC raised 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 purchasing an additional 42,831,405 shares in the last quarter. Norges Bank acquired a new stake in shares of PepsiCo during the fourth quarter valued at approximately $2,519,707,000. Morgan Stanley raised its holdings in shares of 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. Cottage Street Advisors LLC raised its holdings in shares of PepsiCo by 16,362.5% during the fourth quarter. Cottage Street Advisors LLC now owns 3,272,900 shares of the company’s stock valued at $361,000 after acquiring an additional 3,253,019 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of PepsiCo by 99.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,174,183 shares of the company’s stock valued at $741,889,000 after acquiring an additional 2,085,204 shares during the period. 75.46% of the stock is currently owned by institutional investors.

PepsiCo Stock Performance

PEP stock opened at $186.07 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.87 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $256.35 billion, a price-to-earnings ratio of 39.17, a P/E/G ratio of 3.25 and a beta of 0.54. PepsiCo, Inc. has a 12 month low of $160.98 and a 12 month high of $196.88. The firm has a 50 day moving average of $187.54 and a two-hundred day moving average of $181.26.

PepsiCo (NASDAQ:PEP – Get Rating) last posted 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. The company had revenue of $17.85 billion during the quarter, compared to the consensus estimate of $17.27 billion. PepsiCo had a net margin of 7.48% and a return on equity of 53.68%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 earnings per share. As a group, equities analysts anticipate that PepsiCo, Inc. will post 7.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed 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 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%. The ex-dividend date is Thursday, June 1st. PepsiCo’s dividend payout ratio is currently 106.53%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PEP. JPMorgan Chase & Co. boosted their price target on shares of PepsiCo from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Monday, April 17th. Wells Fargo & Company boosted their price target on shares of PepsiCo from $187.00 to $196.00 in a report on Wednesday, April 26th. Sanford C. Bernstein upgraded shares of PepsiCo from an “underperform” rating to a “market perform” rating in a report on Monday, March 20th. Royal Bank of Canada upped their price objective on shares of PepsiCo from $175.00 to $178.00 in a research note on Wednesday, April 26th. 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 analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $190.25.

About PepsiCo

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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.

See Also

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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