PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Lake Street Private Wealth LLC

Lake Street Private Wealth LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,852 shares of the company’s stock after selling 140 shares during the quarter. Lake Street Private Wealth LLC’s holdings in PepsiCo were worth $1,549,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Advisors Ltd. LLC boosted its holdings in shares of PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after acquiring an additional 139 shares during the period. Cerity Partners LLC grew its holdings in PepsiCo by 59.4% in the 4th quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock worth $168,747,000 after buying an additional 370,122 shares in the last quarter. Harbour Capital Advisors LLC raised its stake in PepsiCo by 0.4% during the 4th quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock valued at $4,747,000 after acquiring an additional 102 shares in the last quarter. Meadow Creek Wealth Advisors LLC bought a new position in shares of PepsiCo in the fourth quarter worth $405,000. Finally, Householder Group Estate & Retirement Specialist LLC grew its position in PepsiCo by 34.5% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock valued at $2,091,000 after buying an additional 3,159 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PEP shares. Wedbush reaffirmed an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. Jefferies Financial Group increased 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. JPMorgan Chase & Co. upped their price objective on PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a report on Wednesday, June 26th. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Finally, TD Cowen cut their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, PepsiCo has an average rating of “Moderate Buy” and an average target price of $186.64.

PepsiCo Trading Down 0.6 %

NASDAQ:PEP opened at $162.60 on Thursday. The stock’s 50-day moving average is $172.95 and its two-hundred day moving average is $170.24. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The stock has a market cap of $223.54 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.69 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.

PepsiCo (NASDAQ:PEP) last issued its earnings results 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 company had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same quarter last year, the business posted $1.50 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. As a group, equities research analysts forecast that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a $1.355 dividend. This is a boost 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 annualized dividend and a dividend yield of 3.33%. PepsiCo’s payout ratio is presently 81.50%.

Insider Activity at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.