Birch Hill Investment Advisors LLC Decreases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Posted by Defense World Staff on Jun 26th, 2023

Birch Hill Investment Advisors LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 5.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,234 shares of the company’s stock after selling 5,390 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in PepsiCo were worth $16,632,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PEP. Clear Investment Research LLC purchased a new position in shares of PepsiCo during the 4th quarter worth $25,000. Freedom Wealth Alliance LLC purchased a new position in shares of PepsiCo during the 4th quarter worth $29,000. Legend Financial Advisors Inc. lifted its stake in shares of PepsiCo by 125.7% during the 4th quarter. Legend Financial Advisors Inc. now owns 167 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares during the period. Red Tortoise LLC purchased a new position in shares of PepsiCo during the 4th quarter worth $30,000. Finally, CarsonAllaria Wealth Management Ltd. raised its position in shares of PepsiCo by 604.0% in the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 176 shares of the company’s stock worth $32,000 after buying an additional 151 shares during the period. Hedge funds and other institutional investors own 75.46% of the company’s stock.

PepsiCo Stock Performance

NASDAQ:PEP opened at $186.07 on Monday. The firm’s 50-day moving average is $187.54 and its 200-day moving average is $181.29. PepsiCo, Inc. has a 52-week low of $160.98 and a 52-week high of $196.88. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.65 and a current ratio of 0.87. The company has a market cap of $256.35 billion, a price-to-earnings ratio of 39.17, a PEG ratio of 3.25 and a beta of 0.54.

PepsiCo (NASDAQ:PEP – Get Rating) last posted its earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.13. The business had revenue of $17.85 billion for the quarter, compared to analysts’ expectations of $17.27 billion. PepsiCo had a net margin of 7.48% and a return on equity of 53.68%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. Equities research analysts anticipate that PepsiCo, Inc. will post 7.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed 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 represents a $5.06 annualized dividend and a yield of 2.72%. 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 is currently 106.53%.

Wall Street Analyst Weigh In

PEP has been the topic of several research reports. Sanford C. Bernstein raised PepsiCo from an “underperform” rating to a “market perform” rating in a research report on Monday, March 20th. StockNews.com initiated coverage on PepsiCo in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. Barclays raised their target price on PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. UBS Group raised their target price on PepsiCo from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. Finally, Wells Fargo & Company lifted their price target on PepsiCo from $187.00 to $196.00 in a research note on Wednesday, April 26th. One investment 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $190.25.

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.