Connecticut Wealth Management LLC Purchases 8,717 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Connecticut Wealth Management LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 83.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,215 shares of the company’s stock after purchasing an additional 8,717 shares during the period. Connecticut Wealth Management LLC’s holdings in PepsiCo were worth $3,264,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Avalon Trust Co raised its holdings in shares of PepsiCo by 9.5% in the fourth quarter. Avalon Trust Co now owns 3,044 shares of the company’s stock worth $517,000 after buying an additional 264 shares during the period. National Bank of Canada FI raised its holdings in shares of PepsiCo by 32.9% in the fourth quarter. National Bank of Canada FI now owns 1,960,499 shares of the company’s stock worth $338,982,000 after buying an additional 485,437 shares during the period. Pointe Capital Management LLC raised its holdings in shares of PepsiCo by 60.2% in the fourth quarter. Pointe Capital Management LLC now owns 4,250 shares of the company’s stock worth $722,000 after buying an additional 1,597 shares during the period. TCG Advisory Services LLC raised its holdings in shares of PepsiCo by 66.0% in the fourth quarter. TCG Advisory Services LLC now owns 17,999 shares of the company’s stock worth $3,057,000 after buying an additional 7,159 shares during the period. Finally, AJOVista LLC purchased a new stake in shares of PepsiCo in the fourth quarter worth approximately $93,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

PEP traded up $0.70 on Friday, reaching $176.15. 3,492,120 shares of the stock were exchanged, compared to its average volume of 5,328,097. The company’s 50-day moving average price is $170.01 and its 200 day moving average price is $168.26. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $196.88. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The firm has a market capitalization of $242.17 billion, a PE ratio of 26.49, a PEG ratio of 2.86 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $1.50 EPS. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.08%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is presently 81.50%.

Analysts Set New Price Targets

PEP has been the topic of several research reports. Barclays raised their price objective on PepsiCo from $184.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Jefferies Financial Group raised their price objective on PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Royal Bank of Canada restated a “sector perform” rating and set a $180.00 price objective on shares of PepsiCo in a report on Monday, February 12th. Deutsche Bank Aktiengesellschaft raised their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “hold” rating in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. increased their target price on PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.42.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods 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.