SkyOak Wealth LLC Acquires 300 Shares of PepsiCo, Inc. (NASDAQ:PEP)

by · The Markets Daily

SkyOak Wealth LLC boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,107 shares of the company’s stock after acquiring an additional 300 shares during the quarter. SkyOak Wealth LLC’s holdings in PepsiCo were worth $916,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. Brighton Jones LLC boosted its holdings in PepsiCo by 12.4% during the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock valued at $9,031,000 after acquiring an additional 6,574 shares during the period. Bank Pictet & Cie Europe AG boosted its stake in shares of PepsiCo by 2.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company’s stock valued at $71,527,000 after purchasing an additional 11,538 shares during the period. Proficio Capital Partners LLC grew its holdings in shares of PepsiCo by 22.7% in the fourth quarter. Proficio Capital Partners LLC now owns 4,449 shares of the company’s stock worth $677,000 after purchasing an additional 824 shares during the last quarter. AlphaQuest LLC lifted its holdings in PepsiCo by 126.6% during the 4th quarter. AlphaQuest LLC now owns 2,579 shares of the company’s stock valued at $392,000 after buying an additional 1,441 shares in the last quarter. Finally, PGGM Investments boosted its position in PepsiCo by 142.0% in the 4th quarter. PGGM Investments now owns 16,787 shares of the company’s stock valued at $2,553,000 after buying an additional 9,851 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.6%

PepsiCo stock opened at $135.26 on Friday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $180.91. The stock has a market capitalization of $185.45 billion, a PE ratio of 19.89, a price-to-earnings-growth ratio of 4.26 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. The business has a 50 day simple moving average of $131.49 and a 200-day simple moving average of $141.65.

PepsiCo (NASDAQ:PEP – Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The firm had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. During the same period in the previous year, the company earned $1.61 EPS. PepsiCo’s revenue was down 1.8% compared to the same quarter last year. On average, analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 6th were paid a dividend of $1.4225 per share. This represents a $5.69 annualized dividend and a yield of 4.21%. The ex-dividend date was Friday, June 6th. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio is currently 83.68%.

Analyst Ratings Changes

PEP has been the subject of a number of research reports. UBS Group lowered their price target on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a report on Friday, April 25th. JPMorgan Chase & Co. lowered their price target on shares of PepsiCo from $150.00 to $139.00 and set a “neutral” rating for the company in a research report on Thursday. Morgan Stanley reduced their price objective on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Barclays cut their price target on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Finally, Evercore ISI set a $140.00 price objective on PepsiCo in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, PepsiCo presently has a consensus rating of “Hold” and a consensus price target of $158.19.

Read Our Latest Report 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.

Further Reading

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