Kingsview Wealth Management LLC Raises Holdings in PepsiCo, Inc. $PEP

Kingsview Wealth Management LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEPFree Report) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,773 shares of the company’s stock after acquiring an additional 5,811 shares during the quarter. Kingsview Wealth Management LLC’s holdings in PepsiCo were worth $7,861,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MH & Associates Securities Management Corp ADV purchased a new position in shares of PepsiCo in the fourth quarter worth $29,000. Imprint Wealth LLC purchased a new stake in PepsiCo during the 3rd quarter valued at $31,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in PepsiCo in the 4th quarter worth $33,000. Strategic Advocates LLC purchased a new position in shares of PepsiCo in the third quarter valued at about $33,000. Finally, Highline Wealth Partners LLC increased its position in shares of PepsiCo by 56.3% in the fourth quarter. Highline Wealth Partners LLC now owns 250 shares of the company’s stock valued at $36,000 after acquiring an additional 90 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo News Summary

Here are the key news stories impacting PepsiCo this week:

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PEP shares. TD Cowen increased their target price on shares of PepsiCo from $162.00 to $165.00 and gave the stock a “hold” rating in a report on Friday, February 20th. Royal Bank Of Canada lowered their price target on PepsiCo from $165.00 to $163.00 and set a “sector perform” rating for the company in a research report on Thursday, April 9th. Barclays increased their price objective on PepsiCo from $154.00 to $158.00 and gave the stock an “equal weight” rating in a report on Monday, April 20th. Morgan Stanley boosted their target price on PepsiCo from $165.00 to $180.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 4th. Finally, BNP Paribas Exane upped their target price on PepsiCo from $191.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, April 17th. Eight equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $170.11.

Check Out Our Latest Stock Report on PepsiCo

PepsiCo Price Performance

PEP stock opened at $146.29 on Friday. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $171.48. The firm has a 50-day moving average of $153.31 and a 200 day moving average of $152.66. The company has a market cap of $199.94 billion, a P/E ratio of 22.97, a PEG ratio of 2.68 and a beta of 0.38.

PepsiCo (NASDAQ:PEPGet Free Report) last posted its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm had revenue of $19.44 billion for the quarter, compared to the consensus estimate of $18.89 billion. During the same quarter in the prior year, the business earned $1.48 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, sell-side analysts forecast that PepsiCo, Inc. will post 8.63 EPS for the current year.

PepsiCo Increases Dividend

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 paid a $1.48 dividend. The ex-dividend date of this dividend is Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a yield of 4.0%. PepsiCo’s payout ratio is currently 89.32%.

PepsiCo announced that its board has authorized a share buyback program on Tuesday, February 3rd that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 4.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

About PepsiCo

(Free Report)

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.

Further Reading

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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