Steele Capital Management Inc. Acquires 66 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Steele Capital Management Inc. increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,321 shares of the company’s stock after acquiring an additional 66 shares during the period. Steele Capital Management Inc.’s holdings in PepsiCo were worth $585,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PEP. Cerity Partners LLC lifted its stake in shares of 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 shares of PepsiCo by 0.4% in the 4th quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock valued at $4,747,000 after purchasing an additional 102 shares during the period. Meadow Creek Wealth Advisors LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at $405,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in shares of PepsiCo by 34.5% in 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 purchasing an additional 3,159 shares during the period. Finally, Marion Wealth Management raised its stake in PepsiCo by 31.7% during the 4th quarter. Marion Wealth Management now owns 7,888 shares of the company’s stock worth $1,340,000 after buying an additional 1,900 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Up 0.5 %

Shares of PEP opened at $163.75 on Tuesday. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $192.38. The company has a market cap of $225.12 billion, a P/E ratio of 24.49, a P/E/G ratio of 2.71 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The firm 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 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. PepsiCo’s revenue for the quarter was up 2.3% on a year-over-year basis. Research analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.31%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is 81.50%.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the sale, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PEP shares. BNP Paribas started coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective on the stock. Barclays dropped their price target on PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. JPMorgan Chase & Co. lifted their price target on PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday, June 26th. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Jefferies Financial Group lifted their price target on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $186.38.

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.