Virginia Wealth Management Group Inc. Acquires 82 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Virginia Wealth Management Group Inc. raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,018 shares of the company’s stock after buying an additional 82 shares during the quarter. PepsiCo comprises 2.1% of Virginia Wealth Management Group Inc.’s investment portfolio, making the stock its 28th largest position. Virginia Wealth Management Group Inc.’s holdings in PepsiCo were worth $3,451,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PEP. Norges Bank bought a new stake in shares of PepsiCo in the 4th quarter worth approximately $2,729,565,000. GAMMA Investing LLC lifted its stake in shares of PepsiCo by 19,106.5% in 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 during the period. Raymond James Financial Inc. purchased a new position in shares of PepsiCo in the 4th quarter valued at approximately $589,307,000. Charles Schwab Investment Management Inc. lifted its stake in shares of 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 purchasing an additional 3,856,193 shares during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of PepsiCo by 106.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 3,514,965 shares of the company’s stock valued at $527,034,000 after purchasing an additional 1,809,391 shares during the period. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Stock Up 1.4%

PEP stock opened at $131.83 on Wednesday. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.82 and a quick ratio of 0.65. PepsiCo, Inc. has a 1-year low of $127.75 and a 1-year high of $180.91. The stock has a market capitalization of $180.75 billion, a P/E ratio of 18.97, a P/E/G ratio of 3.09 and a beta of 0.45. The business has a fifty day moving average price of $135.37 and a 200-day moving average price of $145.74.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm had revenue of $17.92 billion during the quarter, compared to the consensus estimate of $17.81 billion. During the same period in the previous year, the firm earned $1.61 EPS. The business’s revenue was down 1.8% on a year-over-year basis. Equities analysts forecast that PepsiCo, Inc. will post 8.3 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company 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 is Friday, June 6th. This represents a $5.69 annualized dividend and a dividend yield of 4.32%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s payout ratio is presently 83.68%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised their target price on PepsiCo from $158.00 to $159.00 and gave the company a “neutral” rating in a research note on Monday, April 21st. Evercore ISI set a $140.00 target price on PepsiCo in a research note on Thursday, April 24th. Royal Bank of Canada restated a “sector perform” rating and issued a $163.00 target price on shares of PepsiCo in a research note on Tuesday, April 22nd. Bank of America lowered their price objective on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Finally, UBS Group lowered their price objective on PepsiCo from $175.00 to $169.00 and set a “buy” rating for the company in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $160.69.

PepsiCo Company 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.