McAdam LLC bought a new stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,321 shares of the company’s stock, valued at approximately $241,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Richwood Investment Advisors LLC boosted its stake in PepsiCo by 0.8% in the first quarter. Richwood Investment Advisors LLC now owns 6,826 shares of the company’s stock valued at $1,244,000 after buying an additional 55 shares in the last quarter. Proquility Private Wealth Partners LLC boosted its stake in PepsiCo by 1.1% in the fourth quarter. Proquility Private Wealth Partners LLC now owns 5,260 shares of the company’s stock valued at $950,000 after buying an additional 57 shares in the last quarter. Wealth Advisory Solutions LLC boosted its stake in PepsiCo by 1.7% in the third quarter. Wealth Advisory Solutions LLC now owns 3,545 shares of the company’s stock valued at $579,000 after buying an additional 59 shares in the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of PepsiCo by 1.4% during the first quarter. 180 Wealth Advisors LLC now owns 4,180 shares of the company’s stock valued at $762,000 after purchasing an additional 59 shares in the last quarter. Finally, Brave Asset Management Inc. boosted its stake in shares of PepsiCo by 4.7% during the first quarter. Brave Asset Management Inc. now owns 1,309 shares of the company’s stock valued at $239,000 after purchasing an additional 59 shares in the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
Analyst Upgrades and Downgrades
A number of analysts have recently commented on the company. Sanford C. Bernstein raised PepsiCo from an “underperform” rating to a “market perform” rating in a research note on Monday, March 20th. Royal Bank of Canada lifted their price target on PepsiCo from $175.00 to $178.00 in a research note on Wednesday, April 26th. Wells Fargo & Company lifted their price objective on PepsiCo from $187.00 to $196.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft lifted their price objective on PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 26th. Finally, Barclays lifted their price objective on PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo currently 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 earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share for the quarter, topping 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 return on equity of 53.68% and a net margin of 7.48%. PepsiCo’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.29 earnings per share. On average, equities analysts anticipate that PepsiCo, Inc. will post 7.29 EPS for the current year.
PepsiCo Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors 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. This represents a $5.06 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Thursday, June 1st. PepsiCo’s dividend payout ratio is presently 106.53%.
About PepsiCo
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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