SeaCrest Wealth Management LLC Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

SeaCrest Wealth Management LLC lessened its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 30.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,396 shares of the company’s stock after selling 11,596 shares during the quarter. PepsiCo comprises 0.6% of SeaCrest Wealth Management LLC’s portfolio, making the stock its 28th biggest holding. SeaCrest Wealth Management LLC’s holdings in PepsiCo were worth $4,620,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. 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. 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. Elevatus Welath Management increased its position in shares of PepsiCo by 4.3% during the 3rd quarter. Elevatus Welath Management now owns 2,809 shares of the company’s stock valued at $476,000 after purchasing an additional 115 shares during the last quarter. Legacy Advisors LLC increased its position in shares of PepsiCo by 10.0% during the 3rd quarter. Legacy Advisors LLC now owns 36,688 shares of the company’s stock valued at $6,216,000 after purchasing an additional 3,349 shares during the last quarter. Finally, Laurel Wealth Advisors LLC boosted its holdings in PepsiCo by 0.3% during the 3rd quarter. Laurel Wealth Advisors LLC now owns 24,582 shares of the company’s stock valued at $4,165,000 after acquiring an additional 82 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 0.4 %

PEP opened at $163.58 on Wednesday. The firm has a market cap of $224.89 billion, a price-to-earnings ratio of 24.60, a PEG ratio of 2.71 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38. The stock has a fifty day moving average price of $173.10 and a 200-day moving average price of $170.26.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.50 EPS. As a group, equities research analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a dividend of $1.355 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s dividend payout ratio is currently 81.50%.

Analyst Upgrades and Downgrades

PEP has been the subject of a number of recent analyst reports. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a report on Monday, March 18th. Argus cut PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Wedbush restated an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. Barclays dropped their price objective on PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. boosted their price objective on PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a report on Wednesday, June 26th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $186.38.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.

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.