SVB Wealth LLC Has $7.12 Million Position in PepsiCo, Inc. $PEP

SVB Wealth LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,847 shares of the company’s stock after selling 5,844 shares during the period. SVB Wealth LLC’s holdings in PepsiCo were worth $7,120,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Brighton Jones LLC increased its position in PepsiCo by 12.4% in the 4th quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after purchasing an additional 6,574 shares during the last quarter. Caxton Associates LLP acquired a new stake in shares of PepsiCo during the 1st quarter valued at about $251,000. Sivia Capital Partners LLC grew its stake in shares of PepsiCo by 138.5% in the 2nd quarter. Sivia Capital Partners LLC now owns 6,527 shares of the company’s stock valued at $862,000 after buying an additional 3,790 shares in the last quarter. Schnieders Capital Management LLC. increased its holdings in PepsiCo by 10.1% in the second quarter. Schnieders Capital Management LLC. now owns 38,164 shares of the company’s stock worth $5,039,000 after buying an additional 3,502 shares during the last quarter. Finally, Sei Investments Co. raised its position in PepsiCo by 45.5% during the second quarter. Sei Investments Co. now owns 536,133 shares of the company’s stock valued at $70,789,000 after acquiring an additional 167,707 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Down 0.9%

PepsiCo stock opened at $140.71 on Tuesday. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $171.48. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. The firm has a market capitalization of $192.32 billion, a PE ratio of 22.09, a PEG ratio of 2.83 and a beta of 0.35. The business’s 50-day simple moving average is $149.56 and its 200-day simple moving average is $152.20.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm had revenue of $19.44 billion for the quarter, compared to analyst estimates of $18.89 billion. During the same quarter last year, the firm posted $1.48 EPS. The company’s revenue was up 8.5% on a year-over-year basis. Equities research analysts forecast that PepsiCo, Inc. will post 8.63 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a $1.48 dividend. The ex-dividend date is Friday, June 5th. This represents a $5.92 annualized dividend and a yield of 4.2%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio (DPR) is 92.94%.

Analyst Ratings Changes

Several analysts have commented on PEP shares. Sanford C. Bernstein started coverage on shares of PepsiCo in a research report on Thursday, June 11th. They issued a “market perform” rating and a $143.00 target price for the company. Deutsche Bank Aktiengesellschaft cut their price target on shares of PepsiCo from $173.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler decreased their price objective on shares of PepsiCo from $181.00 to $178.00 and set an “overweight” rating for the company in a report on Friday, June 12th. The Goldman Sachs Group increased their target price on shares of PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, Rothschild & Co Redburn upped their price target on PepsiCo from $130.00 to $132.00 in a research note on Monday, May 11th. Eight investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $167.10.

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.