Sterling Investment Counsel LLC Takes $648,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

Sterling Investment Counsel LLC acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) during the 1st quarter, HoldingsChannel.com reports. The fund acquired 4,321 shares of the company’s stock, valued at approximately $648,000.

Several other hedge funds have also modified their holdings of PEP. Adams Asset Advisors LLC increased its holdings in PepsiCo by 28.1% in the first quarter. Adams Asset Advisors LLC now owns 34,244 shares of the company’s stock valued at $5,135,000 after buying an additional 7,522 shares during the last quarter. TCI Wealth Advisors Inc. increased its holdings in PepsiCo by 1.3% in the first quarter. TCI Wealth Advisors Inc. now owns 14,868 shares of the company’s stock valued at $2,229,000 after buying an additional 190 shares during the last quarter. Duncan Williams Asset Management LLC increased its holdings in PepsiCo by 27.2% in the first quarter. Duncan Williams Asset Management LLC now owns 6,375 shares of the company’s stock valued at $956,000 after buying an additional 1,365 shares during the last quarter. Global X Japan Co. Ltd. increased its holdings in PepsiCo by 34.3% in the first quarter. Global X Japan Co. Ltd. now owns 4,060 shares of the company’s stock valued at $609,000 after buying an additional 1,038 shares during the last quarter. Finally, Premier Path Wealth Partners LLC increased its holdings in PepsiCo by 0.9% in the first quarter. Premier Path Wealth Partners LLC now owns 8,692 shares of the company’s stock valued at $1,303,000 after buying an additional 79 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ PEP opened at $129.07 on Thursday. The company has a quick ratio of 0.65, a current ratio of 0.83 and a debt-to-equity ratio of 2.13. PepsiCo, Inc. has a 52-week low of $127.75 and a 52-week high of $180.91. The business’s 50-day moving average price is $133.80 and its 200 day moving average price is $144.52. The firm has a market cap of $176.97 billion, a P/E ratio of 18.98, a P/E/G ratio of 3.71 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results 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 return on equity of 58.28% and a net margin of 10.24%. The company had revenue of $17.92 billion for the quarter, compared to analysts’ expectations of $17.81 billion. During the same period in the prior year, the business earned $1.61 EPS. The business’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities research analysts expect that PepsiCo, Inc. will post 8.3 earnings per share for the current 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 given a $1.4225 dividend. The ex-dividend date is Friday, June 6th. This represents a $5.69 dividend on an annualized basis and a yield of 4.41%. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. PepsiCo’s dividend payout ratio (DPR) is presently 83.68%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Morgan Stanley dropped their target price on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a report on Friday, April 25th. Evercore ISI set a $140.00 price objective on PepsiCo in a report on Thursday, April 24th. Bank of America dropped their price objective on PepsiCo from $155.00 to $150.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Finally, Barclays dropped their price objective on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, PepsiCo currently 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.