Lenox Wealth Advisors LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 36.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,769 shares of the company’s stock after selling 1,002 shares during the period. Lenox Wealth Advisors LLC’s holdings in PepsiCo were worth $212,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. Waratah Capital Advisors Ltd. lifted its position in shares of PepsiCo by 36.5% in the third quarter. Waratah Capital Advisors Ltd. now owns 12,290 shares of the company’s stock worth $1,685,000 after buying an additional 3,285 shares during the last quarter. Ilmarinen Mutual Pension Insurance Co acquired a new stake in shares of PepsiCo in the third quarter worth about $20,167,000. Psagot Investment House Ltd. lifted its position in shares of PepsiCo by 0.3% in the third quarter. Psagot Investment House Ltd. now owns 147,362 shares of the company’s stock worth $20,203,000 after buying an additional 494 shares during the last quarter. Colony Group LLC lifted its position in shares of PepsiCo by 2.8% in the third quarter. Colony Group LLC now owns 323,676 shares of the company’s stock worth $44,376,000 after buying an additional 8,686 shares during the last quarter. Finally, UMA Financial Services Inc. acquired a new stake in shares of PepsiCo in the third quarter worth about $1,227,000. 71.73% of the stock is owned by hedge funds and other institutional investors.
PEP has been the subject of a number of analyst reports. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $145.00 to $132.00 in a research report on Sunday, March 22nd. Guggenheim raised PepsiCo from a “neutral” rating to a “buy” rating and set a $134.00 price objective for the company in a research report on Friday, March 20th. They noted that the move was a valuation call. Credit Suisse Group raised PepsiCo from an “underperform” rating to an “outperform” rating and boosted their price objective for the stock from $138.00 to $144.00 in a research report on Friday, March 27th. BidaskClub raised PepsiCo from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 6th. Finally, Royal Bank of Canada raised PepsiCo from a “sector perform” rating to an “outperform” rating and boosted their price objective for the stock from $115.00 to $153.00 in a research report on Monday, March 23rd. Seven analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $139.90.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, February 13th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.44 by $0.01. The business had revenue of $20.64 billion for the quarter, compared to the consensus estimate of $20.24 billion. PepsiCo had a return on equity of 54.16% and a net margin of 10.89%. PepsiCo’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.49 EPS. On average, sell-side analysts expect that PepsiCo, Inc. will post 5.73 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 6th were issued a $0.955 dividend. This represents a $3.82 annualized dividend and a dividend yield of 3.07%. The ex-dividend date was Thursday, March 5th. PepsiCo’s payout ratio is currently 69.08%.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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