Legacy Wealth Asset Management LLC Increases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Legacy Wealth Asset Management LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,088 shares of the company’s stock after purchasing an additional 65 shares during the period. Legacy Wealth Asset Management LLC’s holdings in PepsiCo were worth $715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PEP. LFA Lugano Financial Advisors SA increased its position in shares of PepsiCo by 80.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after buying an additional 70 shares during the period. Fortis Group Advisors LLC boosted its holdings in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in PepsiCo in the 1st quarter valued at $35,000. Life Planning Partners Inc bought a new position in shares of PepsiCo in the fourth quarter worth $34,000. Finally, Naples Money Management LLC bought a new stake in PepsiCo during the fourth quarter valued at $36,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.6 %

Shares of PepsiCo stock opened at $162.60 on Friday. 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. The company has a 50-day moving average of $172.37 and a 200 day moving average of $170.13. The firm has a market cap of $223.54 billion, a price-to-earnings ratio of 24.45, a PEG ratio of 2.67 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. 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 earned $1.50 earnings per share. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

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

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PEP shares. TD Cowen decreased their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. BNP Paribas began coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. Jefferies Financial Group raised their price objective on shares of PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Finally, Morgan Stanley raised 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. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $186.64.

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.