LMG Wealth Partners LLC Has $5.50 Million Position in PepsiCo, Inc. $PEP

LMG Wealth Partners LLC raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 13.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,421 shares of the company’s stock after acquiring an additional 4,287 shares during the quarter. LMG Wealth Partners LLC’s holdings in PepsiCo were worth $5,501,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of PepsiCo by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 138,483,870 shares of the company’s stock worth $19,875,205,000 after buying an additional 1,612,652 shares in the last quarter. State Street Corp boosted its holdings in shares of PepsiCo by 1.8% in the 3rd quarter. State Street Corp now owns 59,499,819 shares of the company’s stock worth $8,356,155,000 after acquiring an additional 1,079,970 shares in the last quarter. Auto Owners Insurance Co grew its position in PepsiCo by 14,857.8% during the 4th quarter. Auto Owners Insurance Co now owns 49,252,907 shares of the company’s stock worth $7,068,777,000 after acquiring an additional 48,923,629 shares during the last quarter. Geode Capital Management LLC grew its position in PepsiCo by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 33,617,937 shares of the company’s stock worth $4,814,835,000 after acquiring an additional 360,936 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in PepsiCo by 1.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 28,090,426 shares of the company’s stock valued at $4,031,646,000 after purchasing an additional 295,955 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.9%

NASDAQ PEP opened at $140.71 on Tuesday. The stock has a fifty day moving average of $149.56 and a 200-day moving average of $152.20. The stock has a market capitalization of $192.32 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.83 and a beta of 0.35. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $171.48. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.55 by $0.06. The company had revenue of $19.44 billion during the quarter, compared to the consensus estimate of $18.89 billion. PepsiCo had a return on equity of 56.61% and a net margin of 9.15%.The firm’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.48 earnings per share. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.63 EPS for the current year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Friday, June 5th. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio is currently 92.94%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Deutsche Bank Aktiengesellschaft reduced their price objective on PepsiCo from $173.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday. Sanford C. Bernstein began coverage on PepsiCo in a research note on Thursday, June 11th. They issued a “market perform” rating and a $143.00 target price for the company. The Goldman Sachs Group upped their price target on shares of PepsiCo from $180.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, April 17th. TD Cowen decreased their price objective on shares of PepsiCo from $165.00 to $150.00 and set a “hold” rating on the stock in a report on Friday, June 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of PepsiCo from $172.00 to $178.00 and gave the company an “overweight” rating in a research report on Friday, April 17th. Eight analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $167.10.

About PepsiCo

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.