PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Dravo Bay LLC

Dravo Bay LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,979 shares of the company’s stock after purchasing an additional 64 shares during the period. Dravo Bay LLC’s holdings in PepsiCo were worth $506,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. LFA Lugano Financial Advisors SA raised its stake in shares of PepsiCo by 80.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after acquiring an additional 70 shares during the period. Life Planning Partners Inc acquired a new stake in PepsiCo during the 4th quarter valued at approximately $34,000. Naples Money Management LLC bought a new stake in shares of PepsiCo in the fourth quarter worth $36,000. Criterion Capital Advisors LLC bought a new position in PepsiCo during the 4th quarter valued at $39,000. Finally, Avion Wealth increased its position in shares of PepsiCo by 61.7% in the 4th quarter. Avion Wealth now owns 241 shares of the company’s stock worth $41,000 after purchasing an additional 92 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of NASDAQ PEP traded down $0.61 during mid-day trading on Wednesday, reaching $177.41. The company had a trading volume of 3,266,694 shares, compared to its average volume of 5,666,490. The company has a 50-day moving average price of $170.49 and a two-hundred day moving average price of $168.70. The stock has a market cap of $243.90 billion, a PE ratio of 26.68, a P/E/G ratio of 2.87 and a beta of 0.52. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $196.88. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.50 EPS. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.06%. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date is Friday, June 7th. PepsiCo’s payout ratio is currently 76.09%.

Analyst Ratings Changes

Several brokerages have recently commented on PEP. Wedbush reiterated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a report on Tuesday, April 23rd. Barclays lifted their target price on PepsiCo from $184.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Citigroup upgraded PepsiCo from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $180.00 to $195.00 in a research report on Monday, February 12th. Jefferies Financial Group raised their price target on shares of PepsiCo from $199.00 to $209.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Finally, Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Monday, March 18th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $187.42.

PepsiCo Company 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.