SVB Wealth LLC Buys Shares of 50,461 PepsiCo, Inc. $PEP

SVB Wealth LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 50,461 shares of the company’s stock, valued at approximately $6,663,000.

A number of other institutional investors also recently modified their holdings of PEP. Norges Bank acquired a new stake in PepsiCo during the second quarter valued at $2,330,594,000. Nuveen LLC acquired a new stake in shares of PepsiCo during the 1st quarter valued at about $946,978,000. Laurel Wealth Advisors LLC grew its stake in shares of PepsiCo by 14,420.2% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,890,688 shares of the company’s stock valued at $513,726,000 after buying an additional 3,863,893 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in PepsiCo during the second quarter valued at approximately $460,110,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in PepsiCo by 9.7% in the second quarter. Charles Schwab Investment Management Inc. now owns 29,031,404 shares of the company’s stock valued at $3,833,406,000 after acquiring an additional 2,556,163 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP stock opened at $145.02 on Monday. PepsiCo, Inc. has a 12 month low of $127.60 and a 12 month high of $161.50. The company has a market capitalization of $198.29 billion, a P/E ratio of 27.57, a P/E/G ratio of 4.97 and a beta of 0.42. The stock has a 50 day moving average of $146.66 and a two-hundred day moving average of $141.75. The company has a current ratio of 0.91, a quick ratio of 0.72 and a debt-to-equity ratio of 2.26.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.03. The business had revenue of $23.94 billion during the quarter, compared to analyst estimates of $23.91 billion. PepsiCo had a return on equity of 57.58% and a net margin of 7.82%.PepsiCo’s revenue was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.31 earnings per share. As a group, equities analysts expect that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be issued a dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, December 5th. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank Of Canada reduced their price target on PepsiCo from $146.00 to $145.00 and set a “sector perform” rating for the company in a research report on Monday, September 15th. Bank of America upped their target price on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. reduced their price objective on shares of PepsiCo from $157.00 to $151.00 and set a “neutral” rating for the company in a research note on Monday, October 6th. Wells Fargo & Company boosted their target price on shares of PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research report on Friday, October 10th. Finally, Piper Sandler cut their price objective on PepsiCo from $162.00 to $161.00 and set an “overweight” rating for the company in a research report on Friday, November 21st. Seven analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $156.90.

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.