Summit Financial LLC Grows Stake in PepsiCo, Inc. (NASDAQ:PEP)

Summit Financial LLC raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP - Free Report) by 41.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,110 shares of the company's stock after buying an additional 7,660 shares during the period. Summit Financial LLC's holdings in PepsiCo were worth $3,997,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Tcfg Wealth Management LLC grew its holdings in shares of PepsiCo by 3.5% in the 4th quarter. Tcfg Wealth Management LLC now owns 1,938 shares of the company's stock worth $295,000 after acquiring an additional 66 shares during the period. Lincoln Capital LLC boosted its position in PepsiCo by 0.4% during the fourth quarter. Lincoln Capital LLC now owns 16,808 shares of the company's stock worth $2,556,000 after purchasing an additional 70 shares in the last quarter. Marshall Financial Group LLC grew its holdings in PepsiCo by 2.3% in the fourth quarter. Marshall Financial Group LLC now owns 3,128 shares of the company's stock valued at $476,000 after purchasing an additional 70 shares during the last quarter. Osprey Private Wealth LLC raised its stake in shares of PepsiCo by 0.5% during the 4th quarter. Osprey Private Wealth LLC now owns 15,060 shares of the company's stock worth $2,290,000 after buying an additional 70 shares during the last quarter. Finally, TAGStone Capital Inc. boosted its position in shares of PepsiCo by 2.8% in the 4th quarter. TAGStone Capital Inc. now owns 2,527 shares of the company's stock worth $388,000 after buying an additional 70 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Royal Bank of Canada initiated coverage on shares of PepsiCo in a research report on Tuesday, February 4th. They set a $172.00 target price for the company. UBS Group cut their price objective on PepsiCo from $193.00 to $175.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. StockNews.com downgraded PepsiCo from a "buy" rating to a "hold" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $183.00 to $165.00 and set a "neutral" rating on the stock in a research note on Friday, January 24th. Finally, TD Cowen cut their target price on shares of PepsiCo from $183.00 to $160.00 and set a "hold" rating for the company in a research note on Wednesday, January 8th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $169.88.

PepsiCo Trading Down 0.2 %

Shares of PEP traded down $0.27 during mid-day trading on Tuesday, reaching $149.67. The company had a trading volume of 6,071,734 shares, compared to its average volume of 5,897,074. The stock has a market cap of $205.27 billion, a price-to-earnings ratio of 21.54, a price-to-earnings-growth ratio of 3.09 and a beta of 0.52. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. The firm has a fifty day simple moving average of $149.30 and a 200-day simple moving average of $157.52. PepsiCo, Inc. has a fifty-two week low of $141.51 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP - Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.02. The firm had revenue of $27.78 billion during the quarter, compared to the consensus estimate of $27.89 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm's quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.78 earnings per share. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 7th were issued a $1.355 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $5.42 annualized dividend and a yield of 3.62%. PepsiCo's payout ratio is 77.99%.

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.