Eastover Investment Advisors LLC Acquires 59 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Posted by on Jun 26th, 2023

Eastover Investment Advisors LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 0.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 34,930 shares of the company’s stock after buying an additional 59 shares during the quarter. PepsiCo accounts for 3.6% of Eastover Investment Advisors LLC’s investment portfolio, making the stock its 8th largest holding. Eastover Investment Advisors LLC’s holdings in PepsiCo were worth $6,368,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Trinity Legacy Partners LLC raised its position in shares of PepsiCo by 0.3% during the first quarter. Trinity Legacy Partners LLC now owns 31,270 shares of the company’s stock worth $5,701,000 after purchasing an additional 93 shares during the period. Mawer Investment Management Ltd. raised its position in PepsiCo by 1.6% in the 4th quarter. Mawer Investment Management Ltd. now owns 448,860 shares of the company’s stock valued at $81,091,000 after buying an additional 7,122 shares during the last quarter. Suncoast Equity Management lifted its stake in PepsiCo by 15.2% during the 4th quarter. Suncoast Equity Management now owns 8,345 shares of the company’s stock valued at $1,508,000 after acquiring an additional 1,100 shares in the last quarter. AXS Investments LLC grew its stake 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 acquiring an additional 62 shares in the last quarter. Finally, Renaissance Investment Group LLC raised its holdings in shares of PepsiCo by 1.9% in the fourth quarter. Renaissance Investment Group LLC now owns 48,250 shares of the company’s stock valued at $8,717,000 after purchasing an additional 899 shares during the last quarter. 75.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PEP. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PepsiCo from $188.00 to $193.00 in a research report on Wednesday, April 26th. Royal Bank of Canada increased their price target on PepsiCo from $175.00 to $178.00 in a research report on Wednesday, April 26th. JPMorgan Chase & Co. boosted 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 PepsiCo from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. Finally, Sanford C. Bernstein upgraded shares of PepsiCo from an “underperform” rating to a “market perform” rating in a research report on Monday, March 20th. One research 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. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $190.25.

PepsiCo Trading Down 0.7 %

Shares of PEP stock opened at $186.07 on Monday. PepsiCo, Inc. has a 1 year low of $160.98 and a 1 year high of $196.88. The company’s fifty day simple moving average is $187.54 and its two-hundred day simple moving average is $181.29. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.87 and a quick ratio of 0.65. The stock has a market capitalization 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 issued its quarterly earnings data on Tuesday, April 25th. The company reported $1.50 earnings per share (EPS) for the quarter, topping 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 return on equity of 53.68% and a net margin of 7.48%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.29 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 7.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be paid a $1.265 dividend. The ex-dividend date of this dividend is Thursday, June 1st. This is a boost from PepsiCo’s previous quarterly dividend of $1.15. This represents a $5.06 annualized dividend and a yield of 2.72%. PepsiCo’s dividend 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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