Wealth Management Partners LLC grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 57.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,574 shares of the company’s stock after buying an additional 574 shares during the period. Wealth Management Partners LLC’s holdings in PepsiCo were worth $287,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in PEP. Vanguard Group Inc. boosted its holdings in shares of PepsiCo by 1.3% during the third quarter. Vanguard Group Inc. now owns 128,842,451 shares of the company’s stock worth $21,034,819,000 after purchasing an additional 1,611,639 shares during the last quarter. State Street Corp boosted its stake in PepsiCo by 0.7% in the 3rd quarter. State Street Corp now owns 59,634,823 shares of the company’s stock worth $9,735,981,000 after buying an additional 423,426 shares during the last quarter. Moneta Group Investment Advisors LLC grew its holdings in PepsiCo by 95,514.1% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock valued at $7,746,023,000 after buying an additional 42,831,405 shares during the period. Morgan Stanley lifted its holdings in shares of PepsiCo by 21.0% during the 4th quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock worth $4,827,240,000 after acquiring an additional 4,629,947 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of PepsiCo by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 25,637,180 shares of the company’s stock worth $4,622,579,000 after acquiring an additional 267,641 shares during the last quarter. 75.46% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
PEP has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of PepsiCo from $200.00 to $210.00 in a research note on Tuesday, April 25th. Royal Bank of Canada raised their price objective on PepsiCo from $175.00 to $178.00 in a report on Wednesday, April 26th. Sanford C. Bernstein upgraded PepsiCo from an “underperform” rating to a “market perform” rating in a report on Monday, March 20th. Deutsche Bank Aktiengesellschaft raised their price target on shares of PepsiCo from $188.00 to $193.00 in a report on Wednesday, April 26th. Finally, Barclays increased their price objective on shares of PepsiCo from $201.00 to $206.00 in a research report on Thursday, April 27th. One 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’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $190.25.
PepsiCo Stock Performance
PepsiCo (NASDAQ:PEP – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.37 by $0.13. PepsiCo had a return on equity of 53.68% and a net margin of 7.48%. The business had revenue of $17.85 billion for the quarter, compared to analysts’ expectations of $17.27 billion. During the same quarter in the previous year, the firm posted $1.29 earnings per share. The company’s revenue was up 10.2% compared to the same quarter last year. On average, research analysts forecast that PepsiCo, Inc. will post 7.3 EPS for the current fiscal year.
PepsiCo Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be paid a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Thursday, June 1st. This is a positive change from PepsiCo’s previous quarterly dividend of $1.15. PepsiCo’s payout ratio is 106.53%.
PepsiCo Profile
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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