Spearhead Capital Advisors LLC raised its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 28.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,800 shares of the company’s stock after acquiring an additional 12,587 shares during the period. Spearhead Capital Advisors LLC’s holdings in PepsiCo were worth $8,034,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in PEP. Planning Directions Inc. increased its stake in shares of PepsiCo by 4.6% during the 1st quarter. Planning Directions Inc. now owns 2,921 shares of the company’s stock worth $413,000 after purchasing an additional 129 shares during the last quarter. DAGCO Inc. increased its holdings in PepsiCo by 7.6% during the first quarter. DAGCO Inc. now owns 11,667 shares of the company’s stock valued at $1,650,000 after buying an additional 823 shares during the last quarter. Raab & Moskowitz Asset Management LLC increased its holdings in shares of PepsiCo by 0.5% during the 1st quarter. Raab & Moskowitz Asset Management LLC now owns 32,876 shares of the company’s stock valued at $4,650,000 after purchasing an additional 155 shares in the last quarter. Park Avenue Securities LLC increased its holdings in shares of PepsiCo by 8.1% during the 1st quarter. Park Avenue Securities LLC now owns 38,859 shares of the company’s stock valued at $5,497,000 after purchasing an additional 2,909 shares in the last quarter. Finally, WASHINGTON TRUST Co increased its holdings in shares of PepsiCo by 3.9% during the 1st quarter. WASHINGTON TRUST Co now owns 268,089 shares of the company’s stock valued at $37,920,000 after purchasing an additional 9,983 shares in the last quarter. 69.94% of the stock is currently owned by institutional investors.
PEP has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PepsiCo from $145.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, April 22nd. Sanford C. Bernstein initiated coverage on shares of PepsiCo in a report on Tuesday, January 19th. They set an “underperform” rating and a $136.00 target price for the company. Guggenheim reaffirmed a “buy” rating on shares of PepsiCo in a research report on Thursday, April 1st. Barclays upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $151.00 price target for the company in a research report on Monday, March 29th. Finally, Morgan Stanley raised their price target on PepsiCo from $158.00 to $165.00 and gave the company an “overweight” rating in a research report on Thursday, April 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $149.23.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, April 14th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. The firm had revenue of $14.82 billion for the quarter, compared to analyst estimates of $14.54 billion. PepsiCo had a return on equity of 56.28% and a net margin of 10.27%. PepsiCo’s quarterly revenue was up 6.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.07 earnings per share. As a group, sell-side analysts expect that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Friday, March 5th were given a $1.0225 dividend. The ex-dividend date was Thursday, March 4th. This represents a $4.09 dividend on an annualized basis and a yield of 2.81%. PepsiCo’s payout ratio is 73.96%.
PepsiCo, Inc operates as a food and beverage company 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.
See Also: Dividend Reinvestment Plan (DRIP)
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