Cornerstone Wealth Group LLC Boosts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Cornerstone Wealth Group LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 12.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,435 shares of the company’s stock after purchasing an additional 4,579 shares during the period. Cornerstone Wealth Group LLC’s holdings in PepsiCo were worth $7,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in PEP. Amplius Wealth Advisors LLC increased its stake in shares of PepsiCo by 2.8% during 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 in the last quarter. Sugarloaf Wealth Management LLC increased its stake in shares of PepsiCo by 2.6% during 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 in the last quarter. SYM FINANCIAL Corp increased its stake in shares of PepsiCo by 2.7% during the 4th quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock worth $389,000 after purchasing an additional 61 shares in the last quarter. Clearwater Capital Advisors LLC increased its stake in shares of PepsiCo by 2.3% during the 4th quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after purchasing an additional 61 shares in the last quarter. Finally, Security Financial Services INC. grew its stake 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 acquiring an additional 61 shares during the period. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.8 %

Shares of NASDAQ PEP opened at $164.93 on Monday. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $192.38. The company has a market cap of $226.74 billion, a P/E ratio of 24.80, a P/E/G ratio of 2.71 and a beta of 0.52. 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 stock has a fifty day moving average price of $173.37 and a 200 day moving average price of $170.30.

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

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were given a $1.355 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s dividend payout ratio is presently 81.50%.

Insider Buying and Selling at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction dated Thursday, May 9th. The shares were 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 of the company’s stock, valued at $9,603,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PEP has been the subject of several recent analyst reports. BNP Paribas initiated coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. JPMorgan Chase & Co. lifted their target price on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 26th. Wedbush reissued an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. 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. Finally, Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average price target of $186.38.

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.