TCG Advisory Services LLC Invests $1.53 Million in PepsiCo, Inc. (NASDAQ:PEP)

Posted by on Jul 9th, 2023

TCG Advisory Services LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,400 shares of the company’s stock, valued at approximately $1,531,000.

A number of other institutional investors also recently modified their holdings of the business. Clear Investment Research LLC acquired a new position in PepsiCo in the 4th quarter worth about $25,000. Freedom Wealth Alliance LLC acquired a new position in PepsiCo in the 4th quarter worth about $29,000. Legend Financial Advisors Inc. increased its holdings in PepsiCo by 125.7% in the 4th quarter. Legend Financial Advisors Inc. now owns 167 shares of the company’s stock worth $30,000 after purchasing an additional 93 shares in the last quarter. Red Tortoise LLC bought a new stake in shares of PepsiCo in the 4th quarter valued at about $30,000. Finally, CarsonAllaria Wealth Management Ltd. grew its position in shares of PepsiCo by 604.0% in 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 last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.

PepsiCo Trading Down 1.9 %

Shares of PepsiCo stock opened at $183.08 on Friday. 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, Inc. has a 52 week low of $160.98 and a 52 week high of $196.88. The stock has a 50 day moving average price of $186.58 and a two-hundred day moving average price of $181.89. The stock has a market capitalization of $252.23 billion, a PE ratio of 38.54, a price-to-earnings-growth ratio of 3.20 and a beta of 0.53.

PepsiCo (NASDAQ:PEP – Free Report) last announced its quarterly earnings data on Tuesday, April 25th. The company reported $1.50 EPS for the quarter, beating 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 firm had revenue of $17.85 billion during the quarter, compared to analysts’ expectations of $17.27 billion. During the same quarter last year, the firm posted $1.29 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that PepsiCo, Inc. will post 7.29 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 2nd were issued a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend was Thursday, June 1st. This is a positive change from PepsiCo’s previous quarterly dividend of $1.15. PepsiCo’s dividend payout ratio (DPR) is currently 106.53%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Morgan Stanley upped their price target on PepsiCo from $200.00 to $210.00 in a research report on Tuesday, April 25th. Wells Fargo & Company upped their price target on PepsiCo from $187.00 to $196.00 in a research report on Wednesday, April 26th. JPMorgan Chase & Co. upped their price target on PepsiCo from $190.00 to $196.00 and gave the company an “overweight” rating in a research report on Monday, April 17th. Sanford C. Bernstein raised PepsiCo from an “underperform” rating to a “market perform” rating in a research note on Monday, March 20th. Finally, StockNews.com assumed coverage on PepsiCo in a research note on Thursday, May 18th. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $190.25.

About PepsiCo

(Free Report)

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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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