Global Trust Asset Management LLC Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

Posted by Defense World Staff on Jun 26th, 2023

Global Trust Asset Management LLC lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 6.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,867 shares of the company’s stock after selling 470 shares during the quarter. Global Trust Asset Management LLC’s holdings in PepsiCo were worth $1,252,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PEP. Clear Investment Research LLC purchased a new stake in shares of PepsiCo in the 4th quarter valued at approximately $25,000. Freedom Wealth Alliance LLC purchased a new position in shares of PepsiCo during the fourth quarter worth $29,000. Red Tortoise LLC purchased a new stake in shares of PepsiCo in the 4th quarter valued at $30,000. Legend Financial Advisors Inc. grew its position in PepsiCo by 125.7% in the 4th quarter. Legend Financial Advisors Inc. now owns 167 shares of the company’s stock valued at $30,000 after acquiring an additional 93 shares in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. lifted 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 purchasing an additional 151 shares in the last quarter. 75.46% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Down 0.7 %

Shares of NASDAQ:PEP opened at $186.07 on Monday. The firm has a 50 day simple moving average of $187.54 and a 200-day simple moving average of $181.29. PepsiCo, Inc. has a twelve month low of $160.98 and a twelve month high of $196.88. The company has a current ratio of 0.87, a quick ratio of 0.65 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $256.35 billion, a PE ratio of 39.17, a P/E/G ratio of 3.25 and a beta of 0.54.

PepsiCo (NASDAQ:PEP – Get Rating) last announced its quarterly 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. 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 period in the previous year, the company earned $1.29 earnings per share. PepsiCo’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that PepsiCo, Inc. will post 7.3 EPS for the current fiscal 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 given a dividend of $1.265 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.15. The ex-dividend date is Thursday, June 1st. This represents a $5.06 annualized dividend and a yield of 2.72%. PepsiCo’s payout ratio is 106.53%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PEP. Sanford C. Bernstein upgraded shares of PepsiCo from an “underperform” rating to a “market perform” rating in a report on Monday, March 20th. UBS Group upped their price objective on PepsiCo from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. JPMorgan Chase & Co. lifted their target price on PepsiCo from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Monday, April 17th. Morgan Stanley increased their price target on PepsiCo from $200.00 to $210.00 in a research report on Tuesday, April 25th. Finally, Barclays boosted their price objective on PepsiCo from $201.00 to $206.00 in a research report on Thursday, April 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.