PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by McKinley Carter Wealth Services Inc.

Posted by on Jul 10th, 2023

McKinley Carter Wealth Services Inc. cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 0.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 38,843 shares of the company’s stock after selling 206 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in PepsiCo were worth $7,081,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in PEP. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of PepsiCo by 34.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,128,044 shares of the company’s stock valued at $188,812,000 after purchasing an additional 286,169 shares during the period. AMI Investment Management Inc. boosted its stake in shares of PepsiCo by 0.7% in the first quarter. AMI Investment Management Inc. now owns 16,627 shares of the company’s stock valued at $2,783,000 after purchasing an additional 113 shares during the period. Mather Group LLC. boosted its stake in shares of PepsiCo by 29.3% in the first quarter. Mather Group LLC. now owns 5,562 shares of the company’s stock valued at $931,000 after purchasing an additional 1,262 shares during the period. Wsfs Capital Management LLC boosted its stake in shares of PepsiCo by 117.2% in the first quarter. Wsfs Capital Management LLC now owns 2,995 shares of the company’s stock valued at $501,000 after purchasing an additional 1,616 shares during the period. Finally, Equitable Holdings Inc. boosted its stake in shares of PepsiCo by 8.5% in the first quarter. Equitable Holdings Inc. now owns 26,909 shares of the company’s stock valued at $4,504,000 after purchasing an additional 2,116 shares during the period. 75.46% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $183.08 on Monday. The firm’s fifty day simple moving average is $186.58 and its 200-day simple moving average is $181.93. The stock has a market capitalization of $252.23 billion, a price-to-earnings ratio of 38.54, a PEG ratio of 3.20 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $160.98 and a 12 month high of $196.88. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.87 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP – Free Report) last announced its quarterly earnings data on Tuesday, April 25th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. The company had revenue of $17.85 billion during the quarter, compared to the consensus estimate of $17.27 billion. PepsiCo had a net margin of 7.48% and a return on equity of 53.68%. PepsiCo’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 7.29 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 2nd were issued a $1.265 dividend. 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 an increase from PepsiCo’s previous quarterly dividend of $1.15. PepsiCo’s dividend payout ratio (DPR) is currently 106.53%.

Analyst Ratings Changes

A number of research analysts recently issued reports on PEP shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 26th. Barclays lifted their price target on shares of PepsiCo from $201.00 to $206.00 in a research note on Thursday, April 27th. Morgan Stanley lifted their price target on shares of PepsiCo from $200.00 to $210.00 in a research note on Tuesday, April 25th. Wells Fargo & Company lifted their price target on shares of PepsiCo from $187.00 to $196.00 in a research note on Wednesday, April 26th. Finally, UBS Group lifted their price target on shares of PepsiCo from $195.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, April 6th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $190.25.

PepsiCo Profile

(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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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