PepsiCo, Inc. $PEP Holdings Lifted by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEPFree Report) by 8.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,763 shares of the company’s stock after buying an additional 3,700 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in PepsiCo were worth $7,262,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in PepsiCo during the 4th quarter valued at $26,000. Swiss RE Ltd. bought a new position in shares of PepsiCo in the fourth quarter worth $28,000. MH & Associates Securities Management Corp ADV acquired a new position in shares of PepsiCo during the fourth quarter valued at $29,000. Imprint Wealth LLC acquired a new position in shares of PepsiCo during the third quarter valued at $31,000. Finally, Strategic Advocates LLC acquired a new stake in PepsiCo in the third quarter worth about $33,000. 73.07% of the stock is owned by institutional investors.

Key Stories Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of PepsiCo from $172.00 to $178.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Piper Sandler reduced their price target on shares of PepsiCo from $181.00 to $178.00 and set an “overweight” rating for the company in a research note on Friday, June 12th. UBS Group lowered their price objective on shares of PepsiCo from $190.00 to $186.00 and set a “buy” rating on the stock in a research note on Tuesday, April 7th. Wells Fargo & Company dropped their target price on PepsiCo from $160.00 to $150.00 and set an “equal weight” rating on the stock in a report on Friday, June 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of PepsiCo in a research note on Wednesday, April 8th. Eight equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Hold” and an average price target of $167.10.

View Our Latest Report on PepsiCo

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $142.27 on Thursday. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98. The firm has a 50-day moving average of $148.99 and a two-hundred day moving average of $152.13. The company has a market capitalization of $194.45 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 2.83 and a beta of 0.35.

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

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a $1.48 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Friday, June 5th. PepsiCo’s dividend payout ratio is currently 92.94%.

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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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