Miracle Mile Advisors LLC Grows Position in PepsiCo, Inc. (NASDAQ:PEP)

Miracle Mile Advisors LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the first quarter, HoldingsChannel reports. The institutional investor owned 35,956 shares of the company’s stock after buying an additional 1,127 shares during the quarter. Miracle Mile Advisors LLC’s holdings in PepsiCo were worth $6,293,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. SRS Capital Advisors Inc. increased its position in shares of PepsiCo by 22.7% during the 3rd quarter. SRS Capital Advisors Inc. now owns 4,044 shares of the company’s stock valued at $685,000 after purchasing an additional 748 shares during the last quarter. Becker Capital Management Inc. increased its position in shares of PepsiCo by 0.6% during the 3rd quarter. Becker Capital Management Inc. now owns 11,337 shares of the company’s stock valued at $1,921,000 after purchasing an additional 73 shares during the last quarter. Axxcess Wealth Management LLC increased its position in shares of PepsiCo by 78.9% during the 3rd quarter. Axxcess Wealth Management LLC now owns 56,081 shares of the company’s stock valued at $9,502,000 after purchasing an additional 24,726 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of PepsiCo by 2.1% during the 3rd quarter. Ameriprise Financial Inc. now owns 5,876,920 shares of the company’s stock valued at $995,728,000 after purchasing an additional 121,742 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of PepsiCo by 8.7% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,258,829 shares of the company’s stock valued at $213,296,000 after purchasing an additional 100,650 shares during the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 1.2 %

PEP stock opened at $162.89 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $223.94 billion, a PE ratio of 24.49, a PEG ratio of 2.71 and a beta of 0.52. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38. The stock has a 50-day simple moving average of $173.37 and a two-hundred day simple moving average of $170.30.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping 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 company had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same quarter in the previous year, the firm earned $1.50 earnings per share. PepsiCo’s revenue was up 2.3% on a year-over-year basis. On average, equities analysts predict that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $1.355 dividend. The ex-dividend date was Friday, June 7th. This represents a $5.42 annualized dividend and a yield of 3.33%. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is presently 81.50%.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the business’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 value of $1,000,360.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research note on Monday, March 18th. Jefferies Financial Group increased their price target on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Wedbush reiterated an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. BNP Paribas assumed coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 26th. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus target price of $186.38.

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.