Sonora Investment Management Group LLC Acquires 272 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Sonora Investment Management Group LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.3% during the 1st quarter, HoldingsChannel.com reports. The fund owned 101,777 shares of the company’s stock after buying an additional 272 shares during the period. PepsiCo makes up approximately 1.2% of Sonora Investment Management Group LLC’s holdings, making the stock its 27th biggest holding. Sonora Investment Management Group LLC’s holdings in PepsiCo were worth $15,260,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Accurate Wealth Management LLC grew its position in shares of PepsiCo by 6.3% during the 1st quarter. Accurate Wealth Management LLC now owns 10,425 shares of the company’s stock worth $1,506,000 after buying an additional 616 shares in the last quarter. Fiduciary Financial Group LLC grew its position in shares of PepsiCo by 59.7% during the 1st quarter. Fiduciary Financial Group LLC now owns 2,957 shares of the company’s stock worth $426,000 after buying an additional 1,105 shares in the last quarter. Simplicity Wealth LLC grew its position in shares of PepsiCo by 304.4% during the 1st quarter. Simplicity Wealth LLC now owns 29,059 shares of the company’s stock worth $4,357,000 after buying an additional 21,873 shares in the last quarter. GAMMA Investing LLC grew its position in shares of PepsiCo by 28.1% during the 1st quarter. GAMMA Investing LLC now owns 30,603 shares of the company’s stock worth $4,589,000 after buying an additional 6,712 shares in the last quarter. Finally, First National Bank Sioux Falls grew its position in shares of PepsiCo by 222.0% during the 1st quarter. First National Bank Sioux Falls now owns 9,099 shares of the company’s stock worth $1,364,000 after buying an additional 6,273 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.1%

PepsiCo stock opened at $129.96 on Tuesday. The firm has a market cap of $178.19 billion, a price-to-earnings ratio of 18.70, a price-to-earnings-growth ratio of 3.09 and a beta of 0.45. PepsiCo, Inc. has a 52 week low of $127.75 and a 52 week high of $180.91. The business’s 50-day moving average price is $135.76 and its 200 day moving average price is $145.84. The company has a quick ratio of 0.65, a current ratio of 0.82 and a debt-to-equity ratio of 2.05.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, April 24th. The company reported $1.48 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.01). The company had revenue of $17.92 billion for the quarter, compared to analyst estimates of $17.81 billion. PepsiCo had a return on equity of 58.87% and a net margin of 10.43%. The firm’s revenue was down 1.8% on a year-over-year basis. During the same period last year, the business earned $1.61 earnings per share. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 8.3 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 6th will be issued a $1.4225 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a yield of 4.38%. The ex-dividend date is Friday, June 6th. PepsiCo’s dividend payout ratio (DPR) is presently 83.68%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PEP. Citigroup dropped their price target on PepsiCo from $170.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Morgan Stanley dropped their price target on PepsiCo from $168.00 to $153.00 and set an “equal weight” rating on the stock in a research report on Friday, April 25th. Dbs Bank cut PepsiCo from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 9th. Bank of America decreased their price objective on PepsiCo from $155.00 to $150.00 and set a “neutral” rating for the company in a research note on Friday, April 25th. Finally, Evercore ISI set a $140.00 price objective on PepsiCo in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and an average target price of $160.69.

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.