Sovereign Financial Group Inc. Raises Stake in PepsiCo, Inc. (NASDAQ:PEP)

Sovereign Financial Group Inc. grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,298 shares of the company’s stock after purchasing an additional 121 shares during the quarter. Sovereign Financial Group Inc.’s holdings in PepsiCo were worth $730,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. Amplius Wealth Advisors LLC boosted its position in PepsiCo by 2.8% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock valued at $381,000 after purchasing an additional 60 shares in the last quarter. Darwin Wealth Management LLC boosted its holdings in PepsiCo by 2.7% in the third quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock worth $397,000 after acquiring an additional 61 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its holdings in PepsiCo by 2.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after acquiring an additional 61 shares in the last quarter. SYM FINANCIAL Corp raised its stake in shares of PepsiCo by 2.7% in the fourth quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock worth $389,000 after purchasing an additional 61 shares during the last quarter. Finally, Capital Investment Counsel Inc grew its holdings in PepsiCo by 1.6% in the fourth quarter. Capital Investment Counsel Inc now owns 4,116 shares of the company’s stock valued at $699,000 after purchasing an additional 64 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock traded down $0.61 during trading hours on Wednesday, reaching $177.41. 3,266,716 shares of the company’s stock were exchanged, compared to its average volume of 5,666,272. The company has a market cap of $243.90 billion, a P/E ratio of 26.79, a price-to-earnings-growth ratio of 2.87 and a beta of 0.52. The company’s 50 day moving average is $170.49 and its two-hundred day moving average is $168.70. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $196.88. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. During the same period last year, the business posted $1.50 EPS. PepsiCo’s quarterly revenue was up 2.3% on a year-over-year basis. Equities research analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $1.355 dividend. The ex-dividend date is Friday, June 7th. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.06%. PepsiCo’s payout ratio is 76.09%.

Wall Street Analyst Weigh In

PEP has been the topic of several research analyst reports. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a report on Monday, March 18th. JPMorgan Chase & Co. lifted their price target on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Deutsche Bank Aktiengesellschaft lifted their target price on PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Jefferies Financial Group lifted their target price on PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Moderate Buy” and an average price target of $187.42.

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.