PepsiCo, Inc. (NASDAQ:PEP) is SlateStone Wealth LLC’s 6th Largest Position

SlateStone Wealth LLC grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 102,869 shares of the company’s stock after acquiring an additional 613 shares during the quarter. PepsiCo accounts for 2.3% of SlateStone Wealth LLC’s holdings, making the stock its 6th largest holding. SlateStone Wealth LLC’s holdings in PepsiCo were worth $17,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Amplius Wealth Advisors LLC increased its position in PepsiCo by 2.8% during the fourth quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after buying an additional 60 shares in the last quarter. Darwin Wealth Management LLC increased its position in PepsiCo by 2.7% during the third quarter. Darwin Wealth Management LLC now owns 2,345 shares of the company’s stock worth $397,000 after buying an additional 61 shares in the last quarter. Sugarloaf Wealth Management LLC increased its position in PepsiCo by 2.6% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after buying an additional 61 shares in the last quarter. Cassia Capital Partners LLC increased its position in PepsiCo by 1.5% during the third quarter. Cassia Capital Partners LLC now owns 4,143 shares of the company’s stock worth $702,000 after buying an additional 63 shares in the last quarter. Finally, Sunflower Bank N.A. increased its position in PepsiCo by 3.1% during the third quarter. Sunflower Bank N.A. now owns 2,164 shares of the company’s stock worth $367,000 after buying an additional 65 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PEP. Citigroup raised PepsiCo from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $195.00 in a research report on Monday, February 12th. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Wedbush reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Tuesday. Deutsche Bank Aktiengesellschaft lifted their price objective on PepsiCo from $181.00 to $184.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research report on Monday, March 18th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $186.92.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $169.80 on Wednesday. The business’s fifty day moving average price is $168.84 and its 200 day moving average price is $167.63. The stock has a market capitalization of $233.39 billion, a P/E ratio of 26.06, a PEG ratio of 2.77 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $196.88. The company has a current ratio of 0.85, a quick ratio of 0.68 and a debt-to-equity ratio of 2.02.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. The company had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a return on equity of 58.03% and a net margin of 9.92%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.50 earnings per share. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 1st were paid a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Thursday, February 29th. PepsiCo’s dividend payout ratio is presently 77.02%.

About PepsiCo

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.