PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by CX Institutional

CX Institutional grew its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 60.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,846 shares of the company’s stock after purchasing an additional 26,812 shares during the period. CX Institutional’s holdings in PepsiCo were worth $10,623,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PEP. Tcfg Wealth Management LLC raised its stake in shares of PepsiCo by 3.5% in the fourth quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company’s stock valued at $295,000 after acquiring an additional 66 shares in the last quarter. TAGStone Capital Inc. raised its stake in shares of PepsiCo by 2.8% in the fourth quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock valued at $388,000 after acquiring an additional 70 shares in the last quarter. Lokken Investment Group LLC raised its stake in shares of PepsiCo by 0.9% in the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock valued at $1,171,000 after acquiring an additional 70 shares in the last quarter. Leavell Investment Management Inc. raised its stake in shares of PepsiCo by 0.3% in the fourth quarter. Leavell Investment Management Inc. now owns 27,844 shares of the company’s stock valued at $4,271,000 after acquiring an additional 71 shares in the last quarter. Finally, Legacy Financial Group LLC raised its stake in shares of PepsiCo by 4.9% in the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock valued at $227,000 after acquiring an additional 71 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $131.83 on Wednesday. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91. The business’s 50-day moving average price is $135.37 and its 200 day moving average price is $145.74. The firm has a market cap of $180.75 billion, a P/E ratio of 18.97, a P/E/G ratio of 3.09 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company had revenue of $17.92 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the prior year, the business earned $1.61 EPS. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be given a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.32%. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) is presently 83.68%.

Analyst Upgrades and Downgrades

PEP has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price objective on PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the company from $171.00 to $170.00 in a report on Wednesday, March 12th. Royal Bank of Canada reissued a “sector perform” rating and issued a $163.00 target price on shares of PepsiCo in a report on Tuesday, April 22nd. Bank of America dropped their target price on PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Finally, Evercore ISI set a $140.00 target price on PepsiCo in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $160.69.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of 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.