PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Dakota Wealth Management

Posted by Defense World Staff on Jun 27th, 2023

Dakota Wealth Management grew its position in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 78,073 shares of the company’s stock after purchasing an additional 4,609 shares during the period. PepsiCo makes up approximately 1.0% of Dakota Wealth Management’s holdings, making the stock its 18th biggest position. Dakota Wealth Management’s holdings in PepsiCo were worth $14,233,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Moneta Group Investment Advisors LLC raised its stake in shares of PepsiCo by 95,514.1% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 42,876,248 shares of the company’s stock valued at $7,746,023,000 after purchasing an additional 42,831,405 shares in the last quarter. Norges Bank acquired a new position in PepsiCo during the 4th quarter valued at about $2,519,707,000. Morgan Stanley lifted its stake in shares of PepsiCo by 21.0% in 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. Cottage Street Advisors LLC boosted its holdings in shares of PepsiCo by 16,362.5% in the fourth quarter. Cottage Street Advisors LLC now owns 3,272,900 shares of the company’s stock valued at $361,000 after acquiring an additional 3,253,019 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in shares of PepsiCo by 99.8% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,174,183 shares of the company’s stock valued at $741,889,000 after acquiring an additional 2,085,204 shares during the period. Institutional investors and hedge funds own 75.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PEP. JPMorgan Chase & Co. increased their price target 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 boosted their price target on shares of PepsiCo from $187.00 to $196.00 in a research report on Wednesday, April 26th. StockNews.com assumed coverage on shares of PepsiCo in a research report on Thursday, May 18th. They set a “buy” rating for the company. Barclays boosted their target price on shares of PepsiCo from $201.00 to $206.00 in a report on Thursday, April 27th. Finally, Morgan Stanley raised their target price on shares of PepsiCo from $200.00 to $210.00 in a report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average price target of $190.25.

PepsiCo Trading Down 0.6 %

NASDAQ PEP opened at $184.89 on Tuesday. The firm’s 50 day moving average price is $187.53 and its two-hundred day moving average price is $181.35. The stock has a market cap of $254.72 billion, a price-to-earnings ratio of 38.92, a PEG ratio of 3.25 and a beta of 0.54. PepsiCo, Inc. has a twelve month low of $160.98 and a twelve month high of $196.88. The company has a debt-to-equity ratio of 2.18, a quick ratio of 0.65 and a current ratio of 0.87.

PepsiCo (NASDAQ:PEP – Get Rating) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share for the quarter, beating 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 firm had revenue of $17.85 billion for the quarter, compared to analyst estimates of $17.27 billion. During the same period in the previous year, the firm earned $1.29 earnings per share. PepsiCo’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts anticipate that PepsiCo, Inc. will post 7.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be given a dividend of $1.265 per share. The ex-dividend date of this dividend is Thursday, June 1st. This is an increase from PepsiCo’s previous quarterly dividend of $1.15. This represents a $5.06 dividend on an annualized basis and a yield of 2.74%. PepsiCo’s payout ratio is presently 106.53%.

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.