Raymond James Financial Services Advisors Inc. Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Raymond James Financial Services Advisors Inc. grew its stake in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 877,267 shares of the company’s stock after purchasing an additional 21,895 shares during the period. Raymond James Financial Services Advisors Inc. owned about 0.06% of PepsiCo worth $159,926,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PEP. KFG Wealth Management LLC acquired a new position in shares of PepsiCo during the 1st quarter worth approximately $369,000. Wallington Asset Management LLC raised its stake in PepsiCo by 1.0% in the 1st quarter. Wallington Asset Management LLC now owns 76,533 shares of the company’s stock valued at $13,952,000 after purchasing an additional 770 shares during the last quarter. Sweet Financial Partners LLC raised its stake in PepsiCo by 30.2% in the 1st quarter. Sweet Financial Partners LLC now owns 8,348 shares of the company’s stock valued at $1,522,000 after purchasing an additional 1,934 shares during the last quarter. Bridge Advisory LLC acquired a new position in PepsiCo in the 1st quarter valued at $201,000. Finally, SignalPoint Asset Management LLC raised its stake in PepsiCo by 2.7% in the 1st quarter. SignalPoint Asset Management LLC now owns 6,587 shares of the company’s stock valued at $1,201,000 after purchasing an additional 173 shares during the last quarter. Hedge funds and other institutional investors own 75.46% of the company’s stock.

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Wall Street Analyst Weigh In

Several research analysts recently commented on PEP shares. Barclays increased their price objective on PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. JPMorgan Chase & Co. increased their price objective on PepsiCo from $190.00 to $196.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Wells Fargo & Company raised their target price on PepsiCo from $187.00 to $196.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft raised their target price on PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 26th. Finally, UBS Group raised 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target of $190.25.

PepsiCo Stock Performance

NASDAQ PEP opened at $184.89 on Tuesday. The stock has a market cap of $254.72 billion, a PE ratio of 38.92, a P/E/G ratio of 3.25 and a beta of 0.54. The company has a current ratio of 0.87, a quick ratio of 0.65 and a debt-to-equity ratio of 2.18. PepsiCo, Inc. has a twelve month low of $160.98 and a twelve month high of $196.88. The stock has a fifty day simple moving average of $187.53 and a 200-day simple moving average of $181.35.

PepsiCo (NASDAQ:PEP – Get Rating) last released its quarterly earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $17.27 billion. During the same period in the prior year, the business posted $1.29 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. Equities 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. Investors of record on Friday, June 2nd will be issued a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a yield of 2.74%. This is a boost from PepsiCo’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Thursday, June 1st. PepsiCo’s dividend payout ratio (DPR) is 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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