HighTower Advisors LLC Cuts Holdings in PepsiCo, Inc. $PEP

HighTower Advisors LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 3,422,021 shares of the company’s stock after selling 16,420 shares during the period. PepsiCo comprises about 0.5% of HighTower Advisors LLC’s holdings, making the stock its 29th biggest position. HighTower Advisors LLC’s holdings in PepsiCo were worth $491,128,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. JCIC Asset Management Inc. purchased a new stake in shares of PepsiCo during the 3rd quarter worth approximately $27,000. MH & Associates Securities Management Corp ADV purchased a new stake in shares of PepsiCo in the fourth quarter worth about $29,000. Imprint Wealth LLC purchased a new stake in PepsiCo in the 3rd quarter worth approximately $31,000. Mowery & Schoenfeld Wealth Management LLC bought a new stake in shares of PepsiCo during the 4th quarter valued at about $33,000. Finally, Strategic Advocates LLC purchased a new position in PepsiCo in the 3rd quarter worth approximately $33,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.0%

NASDAQ:PEP opened at $149.06 on Tuesday. The firm’s 50-day moving average price is $155.02 and its 200-day moving average price is $152.41. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48. The company has a market capitalization of $203.73 billion, a PE ratio of 23.40, a P/E/G ratio of 2.73 and a beta of 0.38. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. The firm had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.48 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.

PepsiCo announced that its Board of Directors has approved a stock buyback program on Tuesday, February 3rd that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the company to reacquire up to 4.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio is 89.32%.

Wall Street Analysts Forecast Growth

PEP has been the topic of several research reports. UBS Group lowered their price objective on shares of PepsiCo from $190.00 to $186.00 and set a “buy” rating on the stock in a research report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft raised their price objective on PepsiCo from $169.00 to $173.00 and gave the company a “buy” rating in a report on Friday, April 17th. Rothschild & Co Redburn upped their target price on PepsiCo from $130.00 to $132.00 in a research note on Monday, May 11th. TD Cowen increased their target price on shares of PepsiCo from $162.00 to $165.00 and gave the company a “hold” rating in a report on Friday, February 20th. Finally, HSBC increased their price target on shares of PepsiCo from $175.00 to $176.00 and gave the company a “hold” rating in a research report on Friday, April 17th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $170.11.

More PepsiCo News

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: Some market coverage points to PepsiCo as a possible momentum winner in consumer staples, suggesting investors are still rotating into defensive, dividend-paying names. Pepsi, Apple, and 9 More AI Momentum Trade Winners. Plus 4 Losers to Dump.
• Positive Sentiment: PepsiCo continues to screen as an attractive income stock, with recent dividend-focused articles reinforcing its status as a long-running dividend grower. From High-Yield to High-Growth: 3 Stocks Boosting Dividends
• Neutral Sentiment: Several recent pieces argue PepsiCo is fairly priced and not a bargain versus peers, which suggests limited near-term upside unless fundamentals improve further. PepsiCo: Fairly Priced, But Not A Deal Compared To Peers
• Negative Sentiment: Wells Fargo cut its price target on PepsiCo to $160 from $165 and kept an equal-weight rating, a sign that analysts see more limited near-term appreciation. Wells Fargo adjusts price target on PepsiCo to $160 from $165, maintains equalweight rating
• Negative Sentiment: One recent article noted PepsiCo has pulled back over the past week despite a strong first-quarter earnings report, which may be weighing on sentiment. PepsiCo’s Next Big Rally Could Be Just Getting Started

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.