Arvest Investments Inc. Invests $783,000 in PepsiCo, Inc. (NASDAQ:PEP)

Arvest Investments Inc. bought a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 1st quarter, Holdings Channel reports. The fund bought 4,472 shares of the company’s stock, valued at approximately $783,000.

Several other institutional investors have also added to or reduced their stakes in PEP. Amplius Wealth Advisors LLC grew 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 valued at $381,000 after buying an additional 60 shares during the last quarter. Sugarloaf Wealth Management LLC raised its stake in PepsiCo by 2.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after buying an additional 61 shares during the last quarter. SYM FINANCIAL Corp lifted its holdings in PepsiCo by 2.7% in the fourth quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock valued at $389,000 after buying an additional 61 shares during the period. Clearwater Capital Advisors LLC boosted its position in PepsiCo by 2.3% during the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock valued at $468,000 after acquiring an additional 61 shares during the last quarter. Finally, Security Financial Services INC. raised its position in shares of 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 in the last quarter. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Argus cut PepsiCo from a “buy” rating to a “hold” rating in a research note 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 objective for the company in a research note on Monday, March 18th. Barclays cut their target price on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. JPMorgan Chase & Co. increased their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 26th. Finally, TD Cowen lowered their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $186.64.

PepsiCo Trading Down 0.6 %

NASDAQ PEP opened at $162.60 on Thursday. 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 $223.54 billion, a P/E ratio of 24.45, a PEG ratio of 2.69 and a beta of 0.52. The business has a fifty day simple moving average of $172.95 and a 200 day simple moving average of $170.24. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data 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. The firm 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%. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.50 EPS. On average, analysts predict that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is currently 81.50%.

Insider Transactions at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s 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 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 SEC, which is available through the SEC website. 0.14% of the stock is owned by corporate insiders.

About PepsiCo

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.