Accent Capital Management LLC Takes $1.48 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Accent Capital Management LLC acquired a new position in PepsiCo, Inc. (NASDAQ:PEP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 8,702 shares of the company’s stock, valued at approximately $1,478,000. PepsiCo accounts for 1.2% of Accent Capital Management LLC’s holdings, making the stock its 19th biggest position.

Several other hedge funds have also recently made changes to their positions in the business. Amplius Wealth Advisors LLC lifted its stake in PepsiCo by 2.8% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock valued at $381,000 after acquiring an additional 60 shares during the period. Sugarloaf Wealth Management LLC raised its holdings in shares of PepsiCo by 2.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $411,000 after purchasing an additional 61 shares during the last quarter. SYM FINANCIAL Corp lifted its position in PepsiCo by 2.7% during the fourth quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock valued at $389,000 after purchasing an additional 61 shares during the period. Clearwater Capital Advisors LLC boosted its holdings in PepsiCo by 2.3% in the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after purchasing an additional 61 shares during the last quarter. Finally, Capital Investment Counsel Inc grew its position in PepsiCo by 1.6% in the 4th quarter. Capital Investment Counsel Inc now owns 4,116 shares of the company’s stock worth $699,000 after purchasing an additional 64 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PEP shares. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research note on Monday, March 18th. JPMorgan Chase & Co. boosted their price target on PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Wedbush reiterated an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Jefferies Financial Group upped their target price on shares of PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Finally, Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Moderate Buy” and an average target price of $187.17.

Insider Transactions at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company’s stock.

PepsiCo Price Performance

NASDAQ:PEP opened at $166.14 on Tuesday. The stock has a market cap of $228.41 billion, a PE ratio of 24.98, a P/E/G ratio of 2.67 and a beta of 0.52. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The business’s 50-day simple moving average is $173.89 and its two-hundred day simple moving average is $170.40. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $192.38.

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

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Friday, June 7th. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is 81.50%.

PepsiCo 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.