Nova R Wealth Inc. Purchases New Stake in PepsiCo, Inc. (NASDAQ:PEP)

Nova R Wealth Inc. purchased a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,179 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Amplius Wealth Advisors LLC raised its position in shares of PepsiCo by 2.8% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after purchasing an additional 60 shares during the last quarter. Sugarloaf Wealth Management LLC raised its position in shares of PepsiCo by 2.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after purchasing an additional 61 shares during the last quarter. SYM FINANCIAL Corp increased its holdings in PepsiCo by 2.7% in the 4th quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock worth $389,000 after buying an additional 61 shares in the last quarter. Clearwater Capital Advisors LLC increased its holdings in PepsiCo by 2.3% in the 4th quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after buying an additional 61 shares in the last quarter. Finally, Security Financial Services INC. increased its holdings in PepsiCo by 1.6% in the 1st quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock worth $690,000 after buying an additional 61 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

PepsiCo Stock Up 0.5 %

Shares of PEP opened at $168.08 on Tuesday. The company has a market cap of $231.07 billion, a PE ratio of 25.28, a P/E/G ratio of 2.73 and a beta of 0.52. The business has a fifty day moving average of $173.73 and a 200 day moving average of $170.36. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $192.38. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results 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 company 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%. PepsiCo’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $1.50 earnings per share. On average, sell-side analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a $1.355 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.22%. PepsiCo’s dividend payout ratio (DPR) is presently 81.50%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PEP shares. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a report on Monday, March 18th. BNP Paribas assumed coverage on PepsiCo in a research note on Monday. They set a “neutral” rating and a $174.00 price target for the company. Barclays cut their price target 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. 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. Finally, Jefferies Financial Group boosted their price target on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and an average target price of $186.15.

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.