Welch Group LLC Has $52.49 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Welch Group LLC raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 299,911 shares of the company’s stock after purchasing an additional 10,350 shares during the quarter. PepsiCo makes up approximately 2.6% of Welch Group LLC’s investment portfolio, making the stock its 17th largest holding. Welch Group LLC’s holdings in PepsiCo were worth $52,487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC grew its position in PepsiCo by 59.4% in the 4th quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock valued at $168,747,000 after purchasing an additional 370,122 shares during the period. Harbour Capital Advisors LLC lifted its stake in PepsiCo by 0.4% during the 4th quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock valued at $4,747,000 after acquiring an additional 102 shares in the last quarter. Meadow Creek Wealth Advisors LLC bought a new position in PepsiCo during the 4th quarter valued at $405,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in PepsiCo by 34.5% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock valued at $2,091,000 after acquiring an additional 3,159 shares in the last quarter. Finally, Marion Wealth Management lifted its stake in PepsiCo by 31.7% during the 4th quarter. Marion Wealth Management now owns 7,888 shares of the company’s stock valued at $1,340,000 after acquiring an additional 1,900 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the topic of a number of recent analyst reports. Barclays lowered their target price on PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Wedbush reiterated an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Monday, March 18th. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, Jefferies Financial Group lifted their price objective on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.17.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the transaction, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by corporate insiders.

PepsiCo Stock Performance

NASDAQ:PEP opened at $166.68 on Friday. The business has a 50 day moving average of $173.73 and a 200 day moving average of $170.33. The company has a market capitalization of $229.15 billion, a price-to-earnings ratio of 25.06, a PEG ratio of 2.72 and a beta of 0.52. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $192.38. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. The business’s revenue was up 2.3% on a year-over-year basis. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $1.355 dividend. The ex-dividend date is Friday, June 7th. This represents a $5.42 annualized dividend and a yield of 3.25%. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is presently 81.50%.

About PepsiCo

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.