Oliver Luxxe Assets LLC Purchases 435 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Oliver Luxxe Assets LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% during the 1st quarter, HoldingsChannel.com reports. The fund owned 22,338 shares of the company’s stock after purchasing an additional 435 shares during the period. Oliver Luxxe Assets LLC’s holdings in PepsiCo were worth $3,909,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Cerity Partners LLC raised its position in PepsiCo by 59.4% in the fourth quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock worth $168,747,000 after acquiring an additional 370,122 shares during the period. Harbour Capital Advisors LLC raised its position in PepsiCo by 0.4% in the fourth quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock worth $4,747,000 after acquiring an additional 102 shares during the period. Meadow Creek Wealth Advisors LLC bought a new stake in PepsiCo in the fourth quarter worth about $405,000. Householder Group Estate & Retirement Specialist LLC raised its position in PepsiCo by 34.5% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock worth $2,091,000 after acquiring an additional 3,159 shares during the period. Finally, Marion Wealth Management raised its position in PepsiCo by 31.7% in the fourth quarter. Marion Wealth Management now owns 7,888 shares of the company’s stock worth $1,340,000 after acquiring an additional 1,900 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

PepsiCo stock opened at $162.89 on Tuesday. The firm’s 50 day simple moving average is $173.37 and its 200 day simple moving average is $170.30. 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 firm has a market capitalization of $223.94 billion, a PE ratio of 24.49, a price-to-earnings-growth ratio of 2.71 and a beta of 0.52. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $192.38.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS 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 analyst estimates of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.50 EPS. As a group, analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued 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 was Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.33%. PepsiCo’s dividend payout ratio is presently 81.50%.

Insider Transactions at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the transaction, the chief executive officer now 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 is available through this link. Insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PEP. Jefferies Financial Group boosted 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. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. BNP Paribas initiated coverage on shares of PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. Wedbush restated an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. upped their price target on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday, June 26th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus target price 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.