Zullo Investment Group Inc. increased its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 1.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,313 shares of the company’s stock after purchasing an additional 71 shares during the quarter. Zullo Investment Group Inc.’s holdings in PepsiCo were worth $1,333,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently bought and sold shares of PEP. Richwood Investment Advisors LLC lifted its stake in shares of PepsiCo by 0.8% during the 1st 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 grew its position in shares of 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 purchasing an additional 57 shares in the last quarter. Wealth Advisory Solutions LLC raised its stake in shares of PepsiCo by 1.7% during the 3rd quarter. Wealth Advisory Solutions LLC now owns 3,545 shares of the company’s stock valued at $579,000 after purchasing an additional 59 shares during the period. 180 Wealth Advisors LLC lifted its holdings in PepsiCo by 1.4% during the 1st quarter. 180 Wealth Advisors LLC now owns 4,180 shares of the company’s stock worth $762,000 after purchasing an additional 59 shares in the last quarter. Finally, Brave Asset Management Inc. grew its holdings in PepsiCo by 4.7% during the 1st quarter. Brave Asset Management Inc. now owns 1,309 shares of the company’s stock valued at $239,000 after buying an additional 59 shares in the last quarter. Institutional investors and hedge funds own 75.46% of the company’s stock.
PepsiCo Price Performance
Shares of PepsiCo stock opened at $183.08 on Monday. 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 company has a fifty day moving average of $186.58 and a 200-day moving average of $181.93. The stock has a market capitalization of $252.23 billion, a price-to-earnings ratio of 38.54, a price-to-earnings-growth ratio of 3.20 and a beta of 0.53.
PepsiCo Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 2nd were paid a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Thursday, June 1st. This is a positive change from PepsiCo’s previous quarterly dividend of $1.15. PepsiCo’s dividend payout ratio is 106.53%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently commented on PEP shares. Wells Fargo & Company raised their price objective on shares of PepsiCo from $187.00 to $196.00 in a research report on Wednesday, April 26th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of PepsiCo from $188.00 to $193.00 in a research report on Wednesday, April 26th. JPMorgan Chase & Co. lifted their price objective on PepsiCo from $190.00 to $196.00 and gave the company an “overweight” rating in a research note on Monday, April 17th. Morgan Stanley upped their target price on PepsiCo from $200.00 to $210.00 in a research note on Tuesday, April 25th. Finally, UBS Group boosted their price objective on PepsiCo from $195.00 to $205.00 and gave the stock a “buy” rating in a 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 issued a buy rating to the company’s stock. According to MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus target price of $190.25.
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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