KWB Wealth Cuts Stake in PepsiCo, Inc. (NASDAQ:PEP)
by Tristan Rich · The Markets DailyKWB Wealth lessened its stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 4.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,994 shares of the company’s stock after selling 187 shares during the quarter. KWB Wealth’s holdings in PepsiCo were worth $607,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. Naples Global Advisors LLC lifted its holdings in shares of PepsiCo by 3.0% during the first quarter. Naples Global Advisors LLC now owns 25,678 shares of the company’s stock valued at $3,850,000 after purchasing an additional 747 shares in the last quarter. HF Advisory Group LLC lifted its stake in PepsiCo by 21.3% during the 1st quarter. HF Advisory Group LLC now owns 14,955 shares of the company’s stock valued at $2,242,000 after acquiring an additional 2,627 shares during the period. Warren Street Wealth Advisors LLC bought a new stake in shares of PepsiCo in the first quarter worth approximately $218,000. Matrix Trust Co grew its position in PepsiCo by 6.4% in the 1st quarter. Matrix Trust Co now owns 7,725 shares of the company’s stock worth $1,158,000 after purchasing an additional 464 shares during the period. Finally, Johnson & White Wealth Management LLC grew its holdings in shares of PepsiCo by 6.8% in the first quarter. Johnson & White Wealth Management LLC now owns 5,730 shares of the company’s stock worth $859,000 after acquiring an additional 364 shares during the period. Institutional investors own 73.07% of the company’s stock.
PepsiCo Stock Performance
NASDAQ:PEP opened at $131.74 on Thursday. The stock has a 50-day moving average price of $136.92 and a 200 day moving average price of $146.62. The stock has a market capitalization of $180.63 billion, a P/E ratio of 18.96, a P/E/G ratio of 3.09 and a beta of 0.47. PepsiCo, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05.
PepsiCo (NASDAQ:PEP – Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to analysts’ expectations of $17.81 billion. PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.61 earnings per share. Equities research analysts forecast that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.
PepsiCo Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.32%. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) is currently 83.68%.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on PEP shares. Wells Fargo & Company cut their price target on PepsiCo from $155.00 to $150.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Citigroup reduced their target price on shares of PepsiCo from $170.00 to $160.00 and set a “buy” rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. lifted their price target on shares of PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a research note on Monday, April 21st. Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $171.00 to $170.00 in a research note on Wednesday, March 12th. Finally, Dbs Bank downgraded PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $160.69.
Read Our Latest Stock Report on PEP
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.
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