Private Wealth Advisors LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 3.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,468 shares of the company’s stock after selling 90 shares during the quarter. Private Wealth Advisors LLC’s holdings in PepsiCo were worth $450,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Clear Investment Research LLC acquired a new stake in PepsiCo in the 4th quarter valued at $25,000. Freedom Wealth Alliance LLC acquired a new stake in PepsiCo during the 4th quarter worth $29,000. Legend Financial Advisors Inc. boosted its stake in PepsiCo by 125.7% during 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 during the last quarter. Red Tortoise LLC acquired a new stake in PepsiCo during the 4th quarter worth $30,000. Finally, CarsonAllaria Wealth Management Ltd. boosted its stake in PepsiCo by 604.0% during the 4th quarter. CarsonAllaria Wealth Management Ltd. now owns 176 shares of the company’s stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on PEP shares. Wells Fargo & Company lifted their target price on shares of PepsiCo from $187.00 to $196.00 in a research note on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 26th. JPMorgan Chase & Co. lifted their target price on shares of PepsiCo from $190.00 to $196.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. Sanford C. Bernstein raised shares of PepsiCo from an “underperform” rating to a “market perform” rating in a research report on Monday, March 20th. Finally, UBS Group boosted their price target on shares of PepsiCo from $195.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $190.25.
PepsiCo Stock Down 1.9 %
PepsiCo (NASDAQ:PEP – Free Report) last issued its quarterly earnings data on Tuesday, April 25th. The company reported $1.50 earnings per share (EPS) 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 analyst estimates of $17.27 billion. PepsiCo had a net margin of 7.48% and a return on equity of 53.68%. PepsiCo’s revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.29 EPS. On average, sell-side analysts forecast that PepsiCo, Inc. will post 7.29 earnings per share for the current year.
PepsiCo Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Friday, June 2nd were paid a dividend of $1.265 per share. The ex-dividend date was Thursday, June 1st. 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%. PepsiCo’s dividend payout ratio is 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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