Soltis Investment Advisors LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 43.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,515 shares of the company’s stock after purchasing an additional 18,036 shares during the period. Soltis Investment Advisors LLC’s holdings in PepsiCo were worth $8,542,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Koa Wealth Management LLC lifted its stake in PepsiCo by 0.9% during the fourth quarter. Koa Wealth Management LLC now owns 8,007 shares of the company’s stock worth $1,149,000 after purchasing an additional 68 shares during the period. Facet Wealth Inc. grew its position in PepsiCo by 3.2% in the third quarter. Facet Wealth Inc. now owns 2,221 shares of the company’s stock valued at $312,000 after acquiring an additional 69 shares during the period. Delta Asset Management LLC TN grew its position in PepsiCo by 0.6% in the third quarter. Delta Asset Management LLC TN now owns 11,000 shares of the company’s stock valued at $1,545,000 after acquiring an additional 70 shares during the period. Westside Investment Management Inc. grew its position in PepsiCo by 2.8% in the third quarter. Westside Investment Management Inc. now owns 2,602 shares of the company’s stock valued at $366,000 after acquiring an additional 70 shares during the period. Finally, Tiemann Investment Advisors LLC grew its position in PepsiCo by 4.0% in the third quarter. Tiemann Investment Advisors LLC now owns 1,807 shares of the company’s stock valued at $254,000 after acquiring an additional 70 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.
PepsiCo Price Performance
PepsiCo stock opened at $149.12 on Friday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. The firm has a market cap of $203.81 billion, a P/E ratio of 23.41, a P/E/G ratio of 2.73 and a beta of 0.38. The business’s fifty day moving average is $155.25 and its two-hundred day moving average is $152.42. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $171.48.
PepsiCo declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, February 3rd that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
PepsiCo Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a dividend yield of 4.0%. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Friday, June 5th. PepsiCo’s payout ratio is currently 89.32%.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on PepsiCo from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Rothschild & Co Redburn upped their price target on PepsiCo from $130.00 to $132.00 in a research report on Monday, May 11th. Evercore upped their price target on PepsiCo from $165.00 to $170.00 in a research report on Friday, April 17th. UBS Group lowered their price target on PepsiCo from $190.00 to $186.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Finally, HSBC upped their price target on PepsiCo from $175.00 to $176.00 and gave the company a “hold” rating in a research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $170.37.
Check Out Our Latest Report on PepsiCo
PepsiCo Company Profile
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.
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