Angeles Investment Advisors LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 32.3% in the first quarter, HoldingsChannel reports. The fund owned 4,200 shares of the company’s stock after selling 2,000 shares during the quarter. Angeles Investment Advisors LLC’s holdings in PepsiCo were worth $594,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in PEP. Meridian Financial Partners LLC boosted its position in PepsiCo by 3.4% in the first quarter. Meridian Financial Partners LLC now owns 2,136 shares of the company’s stock worth $311,000 after purchasing an additional 70 shares during the last quarter. Hoese & Co LLP boosted its position in PepsiCo by 3.6% in the first quarter. Hoese & Co LLP now owns 2,005 shares of the company’s stock worth $284,000 after purchasing an additional 70 shares during the last quarter. Profit Investment Management LLC boosted its position in PepsiCo by 1.7% in the first quarter. Profit Investment Management LLC now owns 4,192 shares of the company’s stock worth $593,000 after purchasing an additional 71 shares during the last quarter. Lbmc Investment Advisors LLC boosted its position in PepsiCo by 1.8% in the first quarter. Lbmc Investment Advisors LLC now owns 3,920 shares of the company’s stock worth $554,000 after purchasing an additional 71 shares during the last quarter. Finally, Financial Planning & Information Services Inc. raised its stake in shares of PepsiCo by 3.8% in the first quarter. Financial Planning & Information Services Inc. now owns 1,998 shares of the company’s stock valued at $283,000 after buying an additional 73 shares during the period. 70.14% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on PEP. Wells Fargo & Company boosted their price objective on PepsiCo from $147.00 to $160.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 14th. Truist increased their target price on PepsiCo from $135.00 to $160.00 and gave the company a “hold” rating in a report on Wednesday, July 14th. Credit Suisse Group lowered PepsiCo from an “outperform” rating to a “neutral” rating and upped their price target for the company from $155.00 to $157.00 in a research report on Wednesday, July 14th. UBS Group raised PepsiCo from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $165.00 in a research report on Wednesday, April 21st. Finally, Wolfe Research assumed coverage on PepsiCo in a research report on Monday, April 12th. They issued a “peer perform” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $157.75.
Shares of NASDAQ:PEP traded down $0.39 during trading hours on Thursday, hitting $154.85. 59,213 shares of the company’s stock traded hands, compared to its average volume of 4,648,094. PepsiCo, Inc. has a 1 year low of $128.32 and a 1 year high of $157.54. The firm has a fifty day simple moving average of $148.57. The firm has a market cap of $214.02 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 2.97 and a beta of 0.60. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 2.47.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Monday, July 12th. The company reported $1.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.19. PepsiCo had a return on equity of 59.56% and a net margin of 11.01%. The business had revenue of $19.22 billion during the quarter, compared to analyst estimates of $17.95 billion. During the same quarter in the previous year, the business earned $1.32 earnings per share. The company’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, analysts predict that PepsiCo, Inc. will post 6.24 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Friday, September 3rd will be issued a $1.075 dividend. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $4.30 dividend on an annualized basis and a dividend yield of 2.78%. PepsiCo’s payout ratio is 77.90%.
PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.
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