Nvest Financial LLC raised its stake in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,387 shares of the company’s stock after purchasing an additional 807 shares during the period. PepsiCo accounts for approximately 3.1% of Nvest Financial LLC’s investment portfolio, making the stock its 14th biggest position. Nvest Financial LLC’s holdings in PepsiCo were worth $2,987,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Clear Investment Research LLC bought a new position in PepsiCo during the 4th quarter worth $25,000. Freedom Wealth Alliance LLC bought a new position in PepsiCo during the fourth quarter worth about $29,000. Red Tortoise LLC acquired a new stake in PepsiCo in the 4th quarter worth about $30,000. Legend Financial Advisors Inc. grew its position 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 in the last quarter. Finally, CarsonAllaria Wealth Management Ltd. increased its holdings 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 during the period. 75.46% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on PEP shares. Barclays boosted their price target on PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. Wells Fargo & Company increased their target price on PepsiCo from $187.00 to $196.00 in a report on Wednesday, April 26th. JPMorgan Chase & Co. upped their price objective 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. Deutsche Bank Aktiengesellschaft raised their target price on shares of PepsiCo from $188.00 to $193.00 in a report on Wednesday, April 26th. Finally, StockNews.com initiated coverage on shares of PepsiCo in a report on Thursday, May 18th. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $190.25.
PepsiCo Stock Performance
PepsiCo (NASDAQ:PEP – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 prior year, the company posted $1.29 EPS. The company’s revenue was up 10.2% on a year-over-year basis. Equities research analysts anticipate that PepsiCo, Inc. will post 7.3 earnings per share for the current year.
PepsiCo Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Friday, June 2nd will be paid a $1.265 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Thursday, June 1st. This represents a $5.06 annualized dividend and a dividend yield of 2.74%. PepsiCo’s dividend payout ratio is presently 106.53%.
About PepsiCo
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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