NewEdge Wealth LLC Purchases 8,830 Shares of PepsiCo, Inc. $PEP

NewEdge Wealth LLC increased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 26.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 42,473 shares of the company’s stock after buying an additional 8,830 shares during the period. NewEdge Wealth LLC’s holdings in PepsiCo were worth $6,096,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Koa Wealth Management LLC raised its stake in PepsiCo by 0.9% during the fourth quarter. Koa Wealth Management LLC now owns 8,007 shares of the company’s stock worth $1,149,000 after buying an additional 68 shares during the last quarter. Facet Wealth Inc. increased its stake in PepsiCo by 3.2% in the third quarter. Facet Wealth Inc. now owns 2,221 shares of the company’s stock valued at $312,000 after purchasing an additional 69 shares in the last quarter. Delta Asset Management LLC TN increased its stake in PepsiCo by 0.6% in the third quarter. Delta Asset Management LLC TN now owns 11,000 shares of the company’s stock valued at $1,545,000 after purchasing an additional 70 shares in the last quarter. Westside Investment Management Inc. increased its stake in PepsiCo by 2.8% in the third quarter. Westside Investment Management Inc. now owns 2,602 shares of the company’s stock valued at $366,000 after purchasing an additional 70 shares in the last quarter. Finally, Tiemann Investment Advisors LLC increased its stake in PepsiCo by 4.0% in the third quarter. Tiemann Investment Advisors LLC now owns 1,807 shares of the company’s stock valued at $254,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP opened at $154.62 on Monday. The company has a quick ratio of 0.72, a current ratio of 0.90 and a debt-to-equity ratio of 1.98. The stock has a market cap of $211.33 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.83 and a beta of 0.38. PepsiCo, Inc. has a twelve month low of $127.60 and a twelve month high of $171.48. The company’s 50-day moving average price is $157.25 and its two-hundred day moving average price is $152.50.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. The firm had revenue of $19.44 billion for the quarter, compared to analysts’ expectations of $18.89 billion. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The company’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 earnings per share. As a group, equities analysts expect that PepsiCo, Inc. will post 8.63 earnings per share for the current year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be paid a $1.48 dividend. The ex-dividend date is Friday, June 5th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a yield of 3.8%. PepsiCo’s dividend payout ratio is presently 89.32%.

PepsiCo declared that its board has authorized a share buyback plan on Tuesday, February 3rd that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on PEP shares. The Goldman Sachs Group lifted their price target on shares of PepsiCo from $180.00 to $183.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Wall Street Zen downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Evercore boosted their target price on shares of PepsiCo from $165.00 to $170.00 in a research report on Friday, April 17th. HSBC boosted their target price on shares of PepsiCo from $175.00 to $176.00 and gave the stock a “hold” rating in a research report on Friday, April 17th. Finally, Wells Fargo & Company boosted their target price on shares of PepsiCo from $154.00 to $165.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 4th. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average price target of $170.26.

Key Stories Impacting PepsiCo

Here are the key news stories impacting PepsiCo this week:

• Positive Sentiment: PepsiCo announced a new partnership in the UAE’s Future Industries Lab to support SMEs and young Emiratis, reinforcing its innovation and local investment strategy. MoIAT expands Future Industries Lab with new PepsiCo partnership supporting SMEs and young Emiratis
• Positive Sentiment: PepsiCo and TalusAg Renewables announced a low-carbon ammonia agreement, an ESG-oriented move that could improve supply-chain sustainability and appeal to investors focused on emissions reduction. PepsiCo and TalusAg Renewables announce low-carbon ammonia attribute agreement to help accelerate fertilizer decarbonization
• Positive Sentiment: Multiple articles highlighted PepsiCo’s continued investment in China and its focus on international growth, product innovation, and cost discipline, which supports the long-term bull case. PepsiCo to ‘continue investing’ in Chinese market

PepsiCo Company Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.