Elevation Point Wealth Partners LLC Grows Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Elevation Point Wealth Partners LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 27.4% in the first quarter, Holdings Channel reports. The institutional investor owned 20,406 shares of the company’s stock after purchasing an additional 4,392 shares during the period. Elevation Point Wealth Partners LLC’s holdings in PepsiCo were worth $3,060,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PEP. Tallon Kerry Patrick purchased a new position in PepsiCo in the fourth quarter valued at $224,000. Brighton Jones LLC increased its stake in shares of PepsiCo by 12.4% during the fourth 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 in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of PepsiCo during the fourth quarter worth about $9,268,000. Mcrae Capital Management Inc. increased its stake in shares of PepsiCo by 1.0% during the fourth quarter. Mcrae Capital Management Inc. now owns 10,063 shares of the company’s stock worth $1,530,000 after purchasing an additional 97 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in shares of PepsiCo by 62.4% during the fourth quarter. Vontobel Holding Ltd. now owns 3,014,101 shares of the company’s stock worth $458,324,000 after purchasing an additional 1,157,835 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 1.1%

PEP opened at $130.85 on Friday. PepsiCo, Inc. has a one year low of $127.75 and a one year high of $180.91. The stock has a market capitalization of $179.41 billion, a PE ratio of 18.83, a P/E/G ratio of 3.09 and a beta of 0.45. The business’s 50 day moving average price is $134.63 and its 200 day moving average price is $145.20. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.65 and a current ratio of 0.82.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.01). PepsiCo had a net margin of 10.43% and a return on equity of 58.87%. The business had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. The company’s revenue was down 1.8% on a year-over-year basis. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 6th will be issued a $1.4225 dividend. The ex-dividend date of this dividend is Friday, June 6th. This is a boost from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 dividend on an annualized basis and a yield of 4.35%. PepsiCo’s dividend payout ratio is currently 83.68%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PEP. Dbs Bank cut shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Royal Bank of Canada reissued a “sector perform” rating and set a $163.00 target price on shares of PepsiCo in a research note on Tuesday, April 22nd. Evercore ISI set a $140.00 price objective on shares of PepsiCo in a research note on Thursday, April 24th. JPMorgan Chase & Co. upped their price objective on shares of PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Finally, Morgan Stanley dropped their price objective on shares of PepsiCo from $168.00 to $153.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $160.69.

PepsiCo 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.