Sweet Financial Partners LLC Purchases 1,934 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Posted by Defense World Staff on Jun 26th, 2023

Sweet Financial Partners LLC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 30.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,348 shares of the company’s stock after buying an additional 1,934 shares during the quarter. Sweet Financial Partners LLC’s holdings in PepsiCo were worth $1,522,000 as of its most recent filing with the Securities & Exchange Commission.

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

PepsiCo Price Performance

NASDAQ PEP opened at $186.07 on Monday. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.87 and a quick ratio of 0.65. PepsiCo, Inc. has a 1-year low of $160.98 and a 1-year high of $196.88. 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. The business’s fifty day moving average price is $187.54 and its 200-day moving average price is $181.29.

PepsiCo (NASDAQ:PEP – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.13. The firm 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 business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.29 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 7.3 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be issued a $1.265 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.15. This represents a $5.06 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, June 1st. PepsiCo’s dividend payout ratio (DPR) is currently 106.53%.

Analyst Ratings Changes

A number of analysts have recently weighed in on PEP shares. UBS Group upped their target price on shares of PepsiCo from $195.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, April 6th. Morgan Stanley upped their target price on shares of PepsiCo from $200.00 to $210.00 in a research report on Tuesday, April 25th. Sanford C. Bernstein raised shares of PepsiCo from an “underperform” rating to a “market perform” rating in a research report on Monday, March 20th. Wells Fargo & Company upped their target price on shares of PepsiCo from $187.00 to $196.00 in a research report on Wednesday, April 26th. Finally, JPMorgan Chase & Co. upped their target price on shares of PepsiCo from $190.00 to $196.00 and gave the stock an “overweight” rating in a research report on Monday, April 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $190.25.

PepsiCo Company 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.