Novem Group Acquires 1,086 Shares of PepsiCo, Inc. (NASDAQ:PEP)

by · The Markets Daily

Novem Group increased its holdings in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 5.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 22,527 shares of the company’s stock after purchasing an additional 1,086 shares during the period. Novem Group’s holdings in PepsiCo were worth $3,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of PEP. TAGStone Capital Inc. boosted its position in shares of PepsiCo by 2.8% in the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company’s stock worth $388,000 after purchasing an additional 70 shares in the last quarter. Lokken Investment Group LLC raised its stake in PepsiCo by 0.9% in the fourth quarter. Lokken Investment Group LLC now owns 7,699 shares of the company’s stock valued at $1,171,000 after buying an additional 70 shares during the last quarter. Legacy Financial Group LLC grew its stake in shares of PepsiCo by 4.9% during the first quarter. Legacy Financial Group LLC now owns 1,514 shares of the company’s stock worth $227,000 after acquiring an additional 71 shares during the last quarter. Atlantic Private Wealth LLC increased its holdings in shares of PepsiCo by 37.5% during the fourth quarter. Atlantic Private Wealth LLC now owns 275 shares of the company’s stock valued at $42,000 after acquiring an additional 75 shares in the last quarter. Finally, Pflug Koory LLC raised its position in shares of PepsiCo by 1.0% in the 1st quarter. Pflug Koory LLC now owns 7,750 shares of the company’s stock valued at $1,162,000 after purchasing an additional 76 shares during the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

PEP opened at $136.48 on Thursday. The firm has a fifty day moving average price of $131.36 and a 200 day moving average price of $142.54. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $180.91. The stock has a market cap of $187.12 billion, a P/E ratio of 20.07, a P/E/G ratio of 4.23 and a beta of 0.45. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.83 and a quick ratio of 0.65.

PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). PepsiCo had a return on equity of 58.28% and a net margin of 10.24%. The firm had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter last year, the company posted $1.61 EPS. The company’s revenue was down 1.8% on a year-over-year basis. Equities research analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 6th were issued a $1.4225 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.17%. The ex-dividend date was Friday, June 6th. PepsiCo’s dividend payout ratio (DPR) is presently 83.68%.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of recent analyst reports. UBS Group cut their price target on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research note on Friday, April 25th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $148.00 target price on shares of PepsiCo in a research report on Tuesday, June 24th. JPMorgan Chase & Co. raised their target price on PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Bank of America dropped their price target on PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a research note on Friday, April 25th. Finally, Barclays reduced their price objective on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $159.75.

Check Out Our Latest Analysis on PEP

About PepsiCo

(Free Report)

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.

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