Red Door Wealth Management LLC Has $4.95 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Red Door Wealth Management LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 28,275 shares of the company’s stock after purchasing an additional 2,012 shares during the period. Red Door Wealth Management LLC’s holdings in PepsiCo were worth $4,948,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PEP. LFA Lugano Financial Advisors SA lifted its position in PepsiCo by 80.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after acquiring an additional 70 shares during the last quarter. Fortis Group Advisors LLC lifted its position in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares during the last quarter. Life Planning Partners Inc acquired a new stake in PepsiCo during the fourth quarter worth approximately $34,000. Kathleen S. Wright Associates Inc. acquired a new stake in PepsiCo during the first quarter worth approximately $35,000. Finally, Naples Money Management LLC acquired a new stake in shares of PepsiCo in the fourth quarter valued at approximately $36,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEP. BNP Paribas began coverage on shares of PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research report on Monday, March 18th. Jefferies Financial Group lifted their price target on shares of PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research report on Wednesday, June 26th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $186.38.

PepsiCo Stock Performance

NASDAQ PEP opened at $164.93 on Monday. The firm’s fifty day moving average price is $173.37 and its two-hundred day moving average price is $170.30. The stock has a market cap of $226.74 billion, a PE ratio of 24.80, a PEG ratio of 2.71 and a beta of 0.52. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The firm had revenue of $18.25 billion for 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 company’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 earnings per share. On average, equities analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

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

Insiders Place Their Bets

In other news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction on 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 in the company, valued at $9,603,634. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

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.