SVB Wealth LLC Sells 5,844 Shares of PepsiCo, Inc. $PEP

SVB Wealth LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 11.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,847 shares of the company’s stock after selling 5,844 shares during the quarter. SVB Wealth LLC’s holdings in PepsiCo were worth $7,120,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in PepsiCo during the fourth quarter valued at approximately $26,000. Swiss RE Ltd. acquired a new stake in PepsiCo in the 4th quarter valued at $28,000. MH & Associates Securities Management Corp ADV acquired a new position in PepsiCo during the fourth quarter worth $29,000. Imprint Wealth LLC acquired a new stake in shares of PepsiCo in the 3rd quarter valued at $31,000. Finally, Strategic Advocates LLC acquired a new stake in shares of PepsiCo during the 3rd quarter worth about $33,000. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP stock opened at $140.71 on Tuesday. PepsiCo, Inc. has a 1 year low of $127.60 and a 1 year high of $171.48. The company has a current ratio of 0.90, a quick ratio of 0.72 and a debt-to-equity ratio of 1.98. The firm’s 50 day moving average is $149.56 and its 200-day moving average is $152.20. The firm has a market capitalization of $192.32 billion, a price-to-earnings ratio of 22.09, a PEG ratio of 2.83 and a beta of 0.35.

PepsiCo (NASDAQ:PEP) last issued its quarterly 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. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The business had revenue of $19.44 billion during the quarter, compared to analyst estimates of $18.89 billion. During the same quarter last year, the business posted $1.48 earnings per share. PepsiCo’s revenue for the quarter was up 8.5% compared to the same quarter last year. Sell-side analysts forecast that PepsiCo, Inc. will post 8.63 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be given a dividend of $1.48 per share. The ex-dividend date is Friday, June 5th. This is an increase from PepsiCo’s previous quarterly dividend of $1.42. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.2%. PepsiCo’s dividend payout ratio is presently 92.94%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PEP shares. Barclays boosted their price target on shares of PepsiCo from $154.00 to $158.00 and gave the company an “equal weight” rating in a research report on Monday, April 20th. HSBC boosted their target price on PepsiCo from $175.00 to $176.00 and gave the stock a “hold” rating in a report on Friday, April 17th. JPMorgan Chase & Co. increased their price target on PepsiCo from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. UBS Group cut their price objective on PepsiCo from $190.00 to $186.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, Evercore boosted their price objective on PepsiCo from $165.00 to $170.00 in a research note on Friday, April 17th. Eight investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus target price of $167.10.

PepsiCo 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.