Magnolia Private Wealth LLC Acquires 356 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Magnolia Private Wealth LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 19.8% during the first quarter, HoldingsChannel reports. The fund owned 2,155 shares of the company’s stock after purchasing an additional 356 shares during the quarter. Magnolia Private Wealth LLC’s holdings in PepsiCo were worth $323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PEP. Norges Bank purchased a new position in PepsiCo during the fourth quarter valued at approximately $2,729,565,000. GAMMA Investing LLC grew its position in shares of PepsiCo by 19,106.5% during the 1st 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of PepsiCo in the fourth quarter worth $589,307,000. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 18.1% during the fourth 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 period. Finally, Assenagon Asset Management S.A. grew its position in PepsiCo by 106.1% during the first quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company’s stock worth $527,034,000 after buying an additional 1,809,391 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PEP shares. Jefferies Financial Group downgraded PepsiCo from a “buy” rating to a “hold” rating and dropped their price target for the company from $171.00 to $170.00 in a research report on Wednesday, March 12th. Barclays cut their price target on shares of PepsiCo from $143.00 to $135.00 and set an “equal weight” rating for the company in a research note on Monday, April 28th. UBS Group lowered their price objective on shares of PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $163.00 target price on shares of PepsiCo in a research report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. raised their price target on PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $160.69.

PepsiCo Trading Up 1.4%

Shares of PEP opened at $131.83 on Wednesday. The firm has a fifty day simple moving average of $135.37 and a two-hundred day simple moving average of $145.74. PepsiCo, Inc. has a twelve month low of $127.75 and a twelve month high of $180.91. The stock has a market capitalization of $180.75 billion, a P/E ratio of 18.97, a PEG ratio of 3.09 and a beta of 0.45. 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 released its quarterly earnings data on Thursday, April 24th. The company reported $1.48 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.01). The business had revenue of $17.92 billion during the quarter, compared to analysts’ expectations of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The company’s quarterly revenue was down 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 EPS. On average, research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

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

About PepsiCo

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.