PepsiCo, Inc. (NASDAQ:PEP) Stock Position Increased by FORVIS Wealth Advisors LLC

FORVIS Wealth Advisors LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 48.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,014 shares of the company’s stock after purchasing an additional 16,927 shares during the period. FORVIS Wealth Advisors LLC’s holdings in PepsiCo were worth $9,103,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEP. LFA Lugano Financial Advisors SA raised its holdings in PepsiCo by 80.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after purchasing an additional 70 shares in the last quarter. Fortis Group Advisors LLC lifted its holdings in shares of PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 97 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in PepsiCo during the first quarter valued at about $35,000. Life Planning Partners Inc bought a new stake in PepsiCo in the fourth quarter worth about $34,000. Finally, Naples Money Management LLC acquired a new stake in PepsiCo in the 4th quarter valued at about $36,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Up 0.2 %

NASDAQ PEP traded up $0.38 during trading on Friday, hitting $162.98. 299,537 shares of the company traded hands, compared to its average volume of 5,442,153. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38. The business has a fifty day simple moving average of $172.37 and a 200 day simple moving average of $170.13. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $224.06 billion, a P/E ratio of 24.45, a PEG ratio of 2.67 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its earnings results 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 company had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same period last year, the company earned $1.50 earnings per share. The business’s revenue was up 2.3% compared to the same quarter last year. As a group, sell-side analysts predict that PepsiCo, Inc. will post 8.16 EPS for the current 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 given a $1.355 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s dividend payout ratio (DPR) is currently 81.50%.

Wall Street Analysts Forecast Growth

PEP has been the subject of several research reports. TD Cowen reduced their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. raised their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 26th. Wedbush reissued an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research note on Monday, March 18th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $186.64.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo 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 sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.14% of the stock is owned by company 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.