Sequoia Financial Advisors LLC Acquires 11,426 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sequoia Financial Advisors LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 5.3% during the first quarter, HoldingsChannel.com reports. The fund owned 225,334 shares of the company’s stock after purchasing an additional 11,426 shares during the period. Sequoia Financial Advisors LLC’s holdings in PepsiCo were worth $33,787,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in shares of PepsiCo by 12.4% during the fourth quarter. Brighton Jones LLC now owns 59,392 shares of the company’s stock worth $9,031,000 after purchasing an additional 6,574 shares during the last quarter. Bank Pictet & Cie Europe AG grew its holdings in shares of PepsiCo by 2.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 470,387 shares of the company’s stock worth $71,527,000 after purchasing an additional 11,538 shares during the last quarter. Pinnacle West Asset Management Inc. grew its holdings in shares of PepsiCo by 4.8% during the fourth quarter. Pinnacle West Asset Management Inc. now owns 5,830 shares of the company’s stock worth $887,000 after purchasing an additional 265 shares during the last quarter. Kirtland Hills Capital Management LLC grew its holdings in shares of PepsiCo by 35.1% during the fourth quarter. Kirtland Hills Capital Management LLC now owns 5,910 shares of the company’s stock worth $899,000 after purchasing an additional 1,535 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its holdings in shares of PepsiCo by 35.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 21,854 shares of the company’s stock worth $3,354,000 after purchasing an additional 5,750 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $128.02 on Thursday. PepsiCo, Inc. has a 52-week low of $127.63 and a 52-week high of $180.91. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.65 and a current ratio of 0.83. The business’s 50 day moving average price is $132.36 and its two-hundred day moving average price is $143.44. The firm has a market cap of $175.53 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 3.76 and a beta of 0.45.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, April 24th. The company reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.01). PepsiCo had a net margin of 10.24% and a return on equity of 58.28%. The business had revenue of $17.92 billion during the quarter, compared to analyst estimates of $17.81 billion. During the same period last year, the firm posted $1.61 earnings per share. PepsiCo’s quarterly revenue was down 1.8% compared to the same quarter last year. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current year.

PepsiCo Increases Dividend

The company 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 dividend of $1.4225 per share. This represents a $5.69 dividend on an annualized basis and a dividend yield of 4.44%. This is a positive change 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 is presently 83.68%.

Analysts Set New Price Targets

Several analysts have recently weighed in on PEP shares. Evercore ISI set a $140.00 price target on PepsiCo in a report on Thursday, April 24th. Barclays reduced their target price on PepsiCo from $143.00 to $135.00 and set an “equal weight” rating on the stock in a report on Monday, April 28th. Citigroup reduced their target price on PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, April 25th. UBS Group reduced their target price on PepsiCo from $175.00 to $169.00 and set a “buy” rating on the stock in a report on Friday, April 25th. Finally, Dbs Bank cut PepsiCo from a “strong-buy” rating to a “hold” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $159.75.

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.