Arthur M. Cohen & Associates LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 28.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,167 shares of the company’s stock after acquiring an additional 920 shares during the quarter. Arthur M. Cohen & Associates LLC’s holdings in PepsiCo were worth $760,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of PepsiCo by 34.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,128,044 shares of the company’s stock valued at $188,812,000 after purchasing an additional 286,169 shares during the last quarter. AMI Investment Management Inc. boosted its stake in shares of PepsiCo by 0.7% in the 1st quarter. AMI Investment Management Inc. now owns 16,627 shares of the company’s stock valued at $2,783,000 after purchasing an additional 113 shares during the last quarter. Mather Group LLC. boosted its stake in shares of PepsiCo by 29.3% in the 1st quarter. Mather Group LLC. now owns 5,562 shares of the company’s stock valued at $931,000 after purchasing an additional 1,262 shares during the last quarter. Wsfs Capital Management LLC grew its holdings in PepsiCo by 117.2% in the first quarter. Wsfs Capital Management LLC now owns 2,995 shares of the company’s stock worth $501,000 after purchasing an additional 1,616 shares during the period. Finally, Equitable Holdings Inc. grew its holdings in PepsiCo by 8.5% in the first quarter. Equitable Holdings Inc. now owns 26,909 shares of the company’s stock worth $4,504,000 after purchasing an additional 2,116 shares during the period. 75.46% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on PEP shares. UBS Group raised their price target on shares of PepsiCo from $195.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Sanford C. Bernstein upgraded shares of PepsiCo from an “underperform” rating to a “market perform” rating in a report on Monday, March 20th. JPMorgan Chase & Co. lifted their price objective on shares of PepsiCo from $190.00 to $196.00 and gave the company an “overweight” rating in a report on Monday, April 17th. StockNews.com began coverage on shares of PepsiCo in a report on Thursday, May 18th. They set a “buy” rating for the company. Finally, Morgan Stanley lifted their price objective on shares of PepsiCo from $200.00 to $210.00 in a report on Tuesday, April 25th. One research 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 MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $190.25.
PepsiCo Stock Down 1.9 %
PepsiCo (NASDAQ:PEP – Free Report) last released 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. The company had revenue of $17.85 billion for the quarter, compared to analyst estimates of $17.27 billion. PepsiCo had a net margin of 7.48% and a return on equity of 53.68%. The firm’s revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $1.29 earnings per share. Research analysts expect that PepsiCo, Inc. will post 7.29 earnings per share for the current fiscal year.
PepsiCo Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 2nd were given a $1.265 dividend. This is a positive change 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 payout ratio is currently 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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