Towerpoint Wealth LLC Buys 3,838 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Towerpoint Wealth LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 194.6% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,810 shares of the company’s stock after acquiring an additional 3,838 shares during the period. Towerpoint Wealth LLC’s holdings in PepsiCo were worth $871,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PEP. Norges Bank acquired a new position in shares of PepsiCo during the 4th quarter worth approximately $2,729,565,000. GAMMA Investing LLC raised its position in shares of PepsiCo by 19,106.5% in the first quarter. GAMMA Investing LLC now owns 4,588,614 shares of the company’s stock valued at $688,017,000 after purchasing an additional 4,564,723 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of PepsiCo during the 4th quarter worth about $589,307,000. Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 18.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 25,217,043 shares of the company’s stock valued at $3,834,504,000 after buying an additional 3,856,193 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in PepsiCo during the fourth quarter worth approximately $221,297,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEP has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. Dbs Bank cut shares of PepsiCo from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 9th. Bank of America cut their price objective on shares of PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a report on Friday, April 25th. UBS Group cut their price target on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Friday, April 25th. Finally, CICC Research restated a “market perform” rating on shares of PepsiCo in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $160.69.

PepsiCo Price Performance

Shares of PEP opened at $131.62 on Monday. The business has a 50-day simple moving average of $137.98 and a two-hundred day simple moving average of $147.02. PepsiCo, Inc. has a 12-month low of $127.75 and a 12-month high of $180.91. The stock has a market cap of $180.46 billion, a PE ratio of 18.94, a PEG ratio of 3.09 and a beta of 0.47. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share (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 the consensus estimate of $17.81 billion. During the same quarter last year, the business earned $1.61 EPS. The firm’s quarterly revenue was down 1.8% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a dividend of $1.4225 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. The ex-dividend date is Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.32%. PepsiCo’s dividend payout ratio (DPR) is 83.68%.

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.