Aldebaran Financial Inc. Invests $201,000 in PepsiCo, Inc. (NASDAQ:PEP)

Posted by Defense World Staff on Jul 9th, 2023

Aldebaran Financial Inc. acquired a new position in PepsiCo, Inc. (NASDAQ:PEP – Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,100 shares of the company’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Clear Investment Research LLC bought a new stake in PepsiCo during the 4th quarter valued at approximately $25,000. Freedom Wealth Alliance LLC bought a new stake in PepsiCo during the 4th quarter valued at approximately $29,000. Red Tortoise LLC bought a new stake in PepsiCo during the 4th quarter valued at approximately $30,000. Legend Financial Advisors Inc. raised its stake in PepsiCo by 125.7% during the 4th quarter. Legend Financial Advisors Inc. now owns 167 shares of the company’s stock valued at $30,000 after purchasing an additional 93 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. raised its stake in 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 purchasing an additional 151 shares during the period. Institutional investors own 75.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PEP shares. Sanford C. Bernstein raised PepsiCo from an “underperform” rating to a “market perform” rating in a research note on Monday, March 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 26th. Barclays lifted their price objective on PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. Wells Fargo & Company lifted their price objective on PepsiCo from $187.00 to $196.00 in a research note on Wednesday, April 26th. Finally, StockNews.com began coverage on PepsiCo in a research note on Thursday, May 18th. They issued a “buy” rating on the stock. One 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $190.25.

PepsiCo Price Performance

PEP opened at $183.08 on Friday. The business has a fifty day moving average of $186.58 and a 200 day moving average of $181.89. PepsiCo, Inc. has a 52-week low of $160.98 and a 52-week high of $196.88. The company has a quick ratio of 0.65, a current ratio of 0.87 and a debt-to-equity ratio of 2.18. 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.

PepsiCo (NASDAQ:PEP – Free Report) last issued its 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 business had revenue of $17.85 billion during the quarter, compared to analysts’ expectations of $17.27 billion. During the same period in the prior year, the business earned $1.29 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 7.29 EPS for the current year.

PepsiCo Increases Dividend

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

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.