Destination Wealth Management Reduces Stake in PepsiCo, Inc. (NASDAQ:PEP)

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Destination Wealth Management reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,084 shares of the company’s stock after selling 229 shares during the period. Destination Wealth Management’s holdings in PepsiCo were worth $4,814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEP. PSI Advisors LLC purchased a new position in PepsiCo during the fourth quarter worth $25,000. Evolution Wealth Advisors LLC increased its position in PepsiCo by 221.0% during the fourth quarter. Evolution Wealth Advisors LLC now owns 199 shares of the company’s stock worth $27,000 after buying an additional 137 shares in the last quarter. Beutel Goodman & Co Ltd. purchased a new position in PepsiCo during the fourth quarter worth $27,000. Permanens Capital L.P. increased its position in PepsiCo by 511.4% during the fourth quarter. Permanens Capital L.P. now owns 269 shares of the company’s stock worth $37,000 after buying an additional 225 shares in the last quarter. Finally, New England Investment & Retirement Group Inc. purchased a new position in PepsiCo during the first quarter worth $41,000. 70.71% of the stock is owned by hedge funds and other institutional investors.

PEP has been the topic of a number of research analyst reports. Cowen lifted their target price on PepsiCo from $135.00 to $156.00 and gave the company an “outperform” rating in a report on Wednesday, April 29th. Deutsche Bank lowered their price objective on PepsiCo from $145.00 to $143.00 and set a “hold” rating for the company in a report on Thursday, March 12th. Morgan Stanley restated a “buy” rating on shares of PepsiCo in a research note on Wednesday, May 13th. Credit Suisse Group upgraded PepsiCo from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $138.00 to $144.00 in a research report on Friday, March 27th. Finally, Citigroup cut their target price on PepsiCo from $157.00 to $148.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Eight equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. PepsiCo currently has a consensus rating of “Buy” and an average target price of $142.00.

Shares of PEP traded up $1.58 during mid-day trading on Monday, hitting $133.13. 2,843,082 shares of the company traded hands, compared to its average volume of 6,126,143. PepsiCo, Inc. has a one year low of $101.42 and a one year high of $147.20. The company has a current ratio of 1.10, a quick ratio of 0.94 and a debt-to-equity ratio of 2.61. The business has a 50-day moving average of $133.17 and a 200 day moving average of $134.64. The stock has a market capitalization of $182.53 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 5.03 and a beta of 0.59.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, April 28th. The company reported $1.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.04. PepsiCo had a net margin of 10.62% and a return on equity of 55.74%. The business had revenue of $13.88 billion for the quarter, compared to analysts’ expectations of $13.20 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. PepsiCo’s revenue was up 7.7% compared to the same quarter last year. As a group, analysts anticipate that PepsiCo, Inc. will post 5.32 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a $1.0225 dividend. The ex-dividend date is Thursday, June 4th. This is a boost from PepsiCo’s previous quarterly dividend of $0.96. This represents a $4.09 dividend on an annualized basis and a yield of 3.07%. PepsiCo’s dividend payout ratio (DPR) is presently 69.08%.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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