Sequoia Financial Advisors LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 4.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,610 shares of the company’s stock after selling 1,141 shares during the period. Sequoia Financial Advisors LLC’s holdings in PepsiCo were worth $3,316,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. PSI Advisors LLC purchased a new stake in shares of PepsiCo in the 4th quarter worth approximately $25,000. Evolution Wealth Advisors LLC lifted its position in shares of PepsiCo by 221.0% in the 4th quarter. Evolution Wealth Advisors LLC now owns 199 shares of the company’s stock worth $27,000 after purchasing an additional 137 shares during the period. Beutel Goodman & Co Ltd. purchased a new stake in shares of PepsiCo in the 4th quarter worth approximately $27,000. Permanens Capital L.P. lifted its position in shares of PepsiCo by 511.4% in the 4th quarter. Permanens Capital L.P. now owns 269 shares of the company’s stock worth $37,000 after purchasing an additional 225 shares during the period. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of PepsiCo in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 70.84% of the company’s stock.
PEP has been the subject of a number of analyst reports. BidaskClub cut shares of PepsiCo from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Deutsche Bank decreased their target price on shares of PepsiCo from $145.00 to $143.00 and set a “hold” rating for the company in a research report on Thursday, March 12th. Credit Suisse Group raised shares of PepsiCo from an “underperform” rating to an “outperform” rating and increased their target price for the company from $138.00 to $144.00 in a research report on Friday, March 27th. Goldman Sachs Group initiated coverage on shares of PepsiCo in a research report on Wednesday, April 1st. They set a “conviction-buy” rating for the company. Finally, Morgan Stanley reissued a “buy” rating on shares of PepsiCo in a research report on Wednesday, May 13th. Eight equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $142.00.
Shares of NASDAQ:PEP traded up $0.27 during midday trading on Friday, reaching $130.48. The company’s stock had a trading volume of 3,344,403 shares, compared to its average volume of 6,111,983. The firm has a market capitalization of $180.67 billion, a PE ratio of 23.17, a P/E/G ratio of 4.98 and a beta of 0.60. PepsiCo, Inc. has a twelve month low of $101.42 and a twelve month high of $147.20. The stock has a fifty day moving average of $132.43 and a 200 day moving average of $134.80. The company has a quick ratio of 0.94, a current ratio of 1.10 and a debt-to-equity ratio of 2.61.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.04. The firm had revenue of $13.88 billion for the quarter, compared to analyst estimates of $13.20 billion. PepsiCo had a net margin of 10.62% and a return on equity of 55.74%. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.97 earnings per share. Sell-side analysts anticipate that PepsiCo, Inc. will post 5.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.0225 per share. This represents a $4.09 annualized dividend and a yield of 3.13%. The ex-dividend date is Thursday, June 4th. This is a positive change from PepsiCo’s previous quarterly dividend of $0.96. PepsiCo’s dividend payout ratio (DPR) is currently 69.08%.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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