Marion Wealth Management grew its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 4.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,645 shares of the company’s stock after buying an additional 252 shares during the quarter. Marion Wealth Management’s holdings in PepsiCo were worth $1,029,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. Clear Investment Research LLC purchased a new stake in shares of PepsiCo during the fourth quarter worth approximately $25,000. Freedom Wealth Alliance LLC acquired a new position in PepsiCo during the fourth quarter worth $29,000. Red Tortoise LLC acquired a new position in PepsiCo during the fourth quarter worth $30,000. Legend Financial Advisors Inc. boosted its stake in 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 buying an additional 93 shares during the last quarter. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in 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 buying an additional 151 shares during the last quarter. 75.46% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Royal Bank of Canada boosted their price objective on PepsiCo from $175.00 to $178.00 in a research note on Wednesday, April 26th. StockNews.com assumed coverage on PepsiCo in a research note on Thursday, May 18th. They set a “buy” rating on the stock. Barclays upped their price target on PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. Morgan Stanley upped their price target on PepsiCo from $200.00 to $210.00 in a research note on Tuesday, April 25th. Finally, Wells Fargo & Company upped their price target on PepsiCo from $187.00 to $196.00 in a research note on Wednesday, April 26th. One investment 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, the stock has a consensus rating of “Hold” and a consensus price target of $190.25.
PepsiCo Price Performance
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, 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 company had revenue of $17.85 billion for the quarter, compared to the consensus estimate of $17.27 billion. During the same quarter in the prior year, the business earned $1.29 EPS. PepsiCo’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that PepsiCo, Inc. will post 7.29 earnings per share for the current year.
PepsiCo Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 2nd were issued a dividend of $1.265 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.15. The ex-dividend date was Thursday, June 1st. This represents a $5.06 annualized dividend and a yield of 2.76%. PepsiCo’s dividend 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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