Corient Private Wealth LLC Boosts Stake in PepsiCo, Inc. $PEP

Corient Private Wealth LLC lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 6.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,581,755 shares of the company’s stock after purchasing an additional 156,076 shares during the period. Corient Private Wealth LLC owned about 0.19% of PepsiCo worth $360,577,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. CrossGen Wealth LLC acquired a new position in PepsiCo during the fourth quarter worth $159,000. Alpine Woods Capital Investors LLC increased its stake in shares of PepsiCo by 13.3% during the fourth quarter. Alpine Woods Capital Investors LLC now owns 39,240 shares of the company’s stock worth $5,632,000 after purchasing an additional 4,601 shares in the last quarter. Strive Financial Group LLC acquired a new position in shares of PepsiCo during the 4th quarter worth about $1,876,000. Ameriflex Group Inc. lifted its stake in PepsiCo by 56.0% in the 4th quarter. Ameriflex Group Inc. now owns 1,807 shares of the company’s stock valued at $259,000 after buying an additional 649 shares in the last quarter. Finally, Blue Sparrow LLC DE purchased a new position in PepsiCo in the 4th quarter valued at about $17,222,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PEP. Wells Fargo & Company reduced their target price on PepsiCo from $160.00 to $150.00 and set an “equal weight” rating for the company in a report on Friday, June 5th. Piper Sandler lowered their price target on PepsiCo from $181.00 to $178.00 and set an “overweight” rating on the stock in a research note on Friday, June 12th. Wall Street Zen downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Weiss Ratings restated a “hold (c)” rating on shares of PepsiCo in a report on Wednesday, April 8th. Finally, Rothschild & Co Redburn lifted their target price on shares of PepsiCo from $130.00 to $132.00 in a research note on Monday, May 11th. Eight equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $167.10.

PepsiCo Trading Up 0.3%

Shares of PepsiCo stock opened at $142.02 on Friday. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72. The stock’s 50 day simple moving average is $150.15 and its 200-day simple moving average is $152.31. The stock has a market cap of $194.11 billion, a P/E ratio of 22.30, a P/E/G ratio of 2.57 and a beta of 0.35. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $171.48.

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

PepsiCo Increases Dividend

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

About PepsiCo

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.