Bell Bank boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 6.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,294 shares of the company’s stock after acquiring an additional 207 shares during the quarter. Bell Bank’s holdings in PepsiCo were worth $600,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Clear Investment Research LLC acquired a new stake in PepsiCo during the 4th quarter valued at $25,000. Freedom Wealth Alliance LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at about $29,000. Legend Financial Advisors Inc. boosted its holdings in shares of PepsiCo by 125.7% during the fourth quarter. Legend Financial Advisors Inc. now owns 167 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares during the period. Red Tortoise LLC acquired a new position in PepsiCo in the 4th quarter valued at approximately $30,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in shares of PepsiCo by 604.0% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 176 shares of the company’s stock valued at $32,000 after buying an additional 151 shares during the period. 75.46% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
PEP has been the subject of several recent research reports. Morgan Stanley increased their price objective on PepsiCo from $200.00 to $210.00 in a report on Tuesday, April 25th. Sanford C. Bernstein raised PepsiCo from an “underperform” rating to a “market perform” rating in a research note on Monday, March 20th. JPMorgan Chase & Co. raised their price objective on shares of PepsiCo from $190.00 to $196.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Wells Fargo & Company boosted their target price on shares of PepsiCo from $187.00 to $196.00 in a research report on Wednesday, April 26th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 26th. One research 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’s stock. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average target price of $190.25.
PepsiCo Stock Up 0.7 %
PepsiCo (NASDAQ:PEP – Free Report) last issued its quarterly earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $17.27 billion. During the same period in the prior year, the firm earned $1.29 EPS. The business’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts predict that PepsiCo, Inc. will post 7.29 EPS for the current fiscal year.
PepsiCo Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Friday, June 2nd were paid a dividend of $1.265 per share. This represents a $5.06 annualized dividend and a yield of 2.73%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.15. The ex-dividend date was Thursday, June 1st. PepsiCo’s payout ratio is currently 106.53%.
PepsiCo Company 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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