Cove Private Wealth LLC Takes $1.14 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Cove Private Wealth LLC bought a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,705 shares of the company’s stock, valued at approximately $1,139,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. LFA Lugano Financial Advisors SA lifted its position in shares of PepsiCo by 80.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after buying an additional 70 shares in the last quarter. Fortis Group Advisors LLC raised its stake in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares during the last quarter. Life Planning Partners Inc acquired a new position in PepsiCo in the 4th quarter valued at $34,000. Naples Money Management LLC acquired a new position in PepsiCo in the 4th quarter valued at $36,000. Finally, Criterion Capital Advisors LLC acquired a new position in PepsiCo in the 4th quarter valued at $39,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at approximately $9,603,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on PEP. Jefferies Financial Group increased their price objective on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Barclays reduced their price objective on PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. JPMorgan Chase & Co. raised their target price on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Monday, March 18th. Finally, Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $187.17.

PepsiCo Stock Up 1.4 %

Shares of NASDAQ:PEP opened at $166.14 on Tuesday. The business has a 50-day moving average price of $173.89 and a 200 day moving average price of $170.40. 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 $228.41 billion, a price-to-earnings ratio of 24.98, a PEG ratio of 2.67 and a beta of 0.52. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $192.38.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $1.50 EPS. Sell-side analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.26%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date is Friday, June 7th. PepsiCo’s dividend payout ratio (DPR) is 81.50%.

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.