Investment Advisory Services Inc. TX ADV Has $2.96 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Posted by Defense World Staff on Jul 9th, 2023

Investment Advisory Services Inc. TX ADV lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 0.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,230 shares of the company’s stock after purchasing an additional 139 shares during the quarter. PepsiCo accounts for 1.5% of Investment Advisory Services Inc. TX ADV’s investment portfolio, making the stock its 15th largest holding. Investment Advisory Services Inc. TX ADV’s holdings in PepsiCo were worth $2,959,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Moneta Group Investment Advisors LLC grew its holdings in 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 worth $7,746,023,000 after buying an additional 42,831,405 shares in the last quarter. Morgan Stanley grew its holdings in PepsiCo by 21.0% during the fourth quarter. Morgan Stanley now owns 26,720,027 shares of the company’s stock worth $4,827,240,000 after buying an additional 4,629,947 shares in the last quarter. Geode Capital Management LLC grew its holdings in PepsiCo by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 25,637,180 shares of the company’s stock worth $4,622,579,000 after buying an additional 267,641 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 7.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 17,008,172 shares of the company’s stock valued at $3,072,696,000 after purchasing an additional 1,175,427 shares during the period. Finally, Norges Bank bought a new position in PepsiCo in the 4th quarter valued at $2,519,707,000. 75.46% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ:PEP opened at $183.08 on Friday. The business’s 50-day moving average price is $186.58 and its two-hundred day moving average price is $181.89. PepsiCo, Inc. has a twelve month low of $160.98 and a twelve month high of $196.88. The stock has a market cap of $252.23 billion, a P/E ratio of 38.54, a PEG ratio of 3.20 and a beta of 0.53. The company has a quick ratio of 0.65, a current ratio of 0.87 and a debt-to-equity ratio of 2.18.

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 the consensus estimate of $1.37 by $0.13. The firm had revenue of $17.85 billion for the quarter, compared to analysts’ expectations of $17.27 billion. PepsiCo had a return on equity of 53.68% and a net margin of 7.48%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.29 EPS. 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 disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 2nd were given a dividend of $1.265 per share. 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. This represents a $5.06 annualized dividend and a dividend yield of 2.76%. PepsiCo’s dividend payout ratio is 106.53%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PEP. Deutsche Bank Aktiengesellschaft upped their price objective on PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 26th. UBS Group upped their price objective on PepsiCo from $195.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, April 6th. StockNews.com started coverage on PepsiCo in a research report on Thursday, May 18th. They set a “buy” rating on the stock. 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. Finally, Morgan Stanley upped their price target on PepsiCo from $200.00 to $210.00 in a research report on Tuesday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.

Investment Advisory Services Inc. TX ADV Has $2.96 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

PepsiCo Stock Performance

PepsiCo Increases Dividend

Wall Street Analysts Forecast Growth

About PepsiCo

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