Summit X LLC Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Summit X LLC increased its position in PepsiCo, Inc. (NASDAQ:PEPFree Report) by 76.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,181 shares of the company’s stock after acquiring an additional 1,818 shares during the period. Summit X LLC’s holdings in PepsiCo were worth $710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Amplius Wealth Advisors LLC increased its stake in shares of PepsiCo by 2.8% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after acquiring an additional 60 shares during the period. Darwin Wealth Management LLC raised its position in PepsiCo by 2.7% during the third quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock valued at $397,000 after acquiring an additional 61 shares in the last quarter. Sugarloaf Wealth Management LLC grew its stake in shares of PepsiCo by 2.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after purchasing an additional 61 shares during the period. SYM FINANCIAL Corp boosted its holdings in PepsiCo by 2.7% during the fourth quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock worth $389,000 after buying an additional 61 shares in the last quarter. Finally, Clearwater Capital Advisors LLC raised its position in shares of PepsiCo by 2.3% in the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after acquiring an additional 61 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PEP. Jefferies Financial Group increased their target price on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday. Wedbush reissued an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Barclays raised their price target on shares of PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $180.00 to $195.00 in a research note on Monday, February 12th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $180.00 target price on shares of PepsiCo in a research report on Monday, February 12th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo presently has an average rating of “Moderate Buy” and an average price target of $187.58.

Check Out Our Latest Stock Report on PEP

Insider Activity at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the transaction, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

PepsiCo Stock Down 0.5 %

Shares of NASDAQ:PEP traded down $0.92 during trading on Friday, hitting $182.19. The company’s stock had a trading volume of 4,449,107 shares, compared to its average volume of 5,024,147. The company has a market capitalization of $250.47 billion, a PE ratio of 27.40, a P/E/G ratio of 2.97 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.86. The business has a 50 day moving average price of $173.04 and a two-hundred day moving average price of $169.68.

PepsiCo (NASDAQ:PEPGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same quarter last year, the company earned $1.50 EPS. PepsiCo’s revenue for the quarter was up 2.3% compared to the same quarter last year. As a group, research analysts expect that PepsiCo, Inc. will post 8.17 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be given a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Friday, June 7th. PepsiCo’s payout ratio is 81.50%.

PepsiCo Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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