Portside Wealth Group LLC Acquires 849 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Portside Wealth Group LLC lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.0% during the first quarter, Holdings Channel.com reports. The firm owned 11,414 shares of the company’s stock after purchasing an additional 849 shares during the period. Portside Wealth Group LLC’s holdings in PepsiCo were worth $1,711,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of PepsiCo by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 133,371,504 shares of the company’s stock worth $20,280,471,000 after purchasing an additional 1,376,133 shares during the period. Geode Capital Management LLC raised its position in PepsiCo by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 31,079,522 shares of the company’s stock valued at $4,717,069,000 after buying an additional 582,254 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. Norges Bank purchased a new stake in PepsiCo in the 4th quarter valued at $2,729,565,000. Finally, Northern Trust Corp raised its position in PepsiCo by 8.7% in the 4th quarter. Northern Trust Corp now owns 16,403,395 shares of the company’s stock valued at $2,494,300,000 after buying an additional 1,306,818 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on PEP. UBS Group lowered their price target on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. Dbs Bank lowered PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Citigroup decreased their target price on PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, April 25th. Finally, Bank of America decreased their target price on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo has an average rating of “Hold” and a consensus target price of $160.69.

PepsiCo Stock Down 0.8%

Shares of NASDAQ PEP opened at $130.03 on Monday. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91. The business has a 50-day simple moving average of $136.15 and a two-hundred day simple moving average of $146.06. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05. The company has a market cap of $178.28 billion, a P/E ratio of 18.71, a P/E/G ratio of 3.09 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $17.81 billion. During the same quarter in the prior year, the business earned $1.61 EPS. The firm’s revenue for the quarter was down 1.8% compared to the same quarter last year. Research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date is Friday, June 6th. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) is 83.68%.

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.