Provence Wealth Management Group Has $529,000 Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Provence Wealth Management Group increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,114 shares of the company’s stock after buying an additional 104 shares during the quarter. Provence Wealth Management Group’s holdings in PepsiCo were worth $529,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cerity Partners LLC lifted its holdings in PepsiCo by 59.4% during the 4th quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock valued at $168,747,000 after purchasing an additional 370,122 shares during the last quarter. Harbour Capital Advisors LLC grew its position in PepsiCo by 0.4% during the 4th quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock worth $4,747,000 after acquiring an additional 102 shares during the last quarter. Meadow Creek Wealth Advisors LLC acquired a new stake in PepsiCo during the 4th quarter valued at $405,000. Manchester Capital Management LLC raised its position in PepsiCo by 1.4% in the 3rd quarter. Manchester Capital Management LLC now owns 13,240 shares of the company’s stock valued at $2,243,000 after purchasing an additional 185 shares during the last quarter. Finally, Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of PepsiCo by 34.5% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock worth $2,091,000 after purchasing an additional 3,159 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.4 %

Shares of NASDAQ:PEP traded up $0.70 during mid-day trading on Friday, reaching $176.15. The stock had a trading volume of 3,492,120 shares, compared to its average volume of 5,328,097. The firm has a 50 day simple moving average of $170.14 and a two-hundred day simple moving average of $168.36. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $196.88. The firm has a market cap of $242.17 billion, a PE ratio of 26.49, a price-to-earnings-growth ratio of 2.87 and a beta of 0.52. 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 posted its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same period last year, the business posted $1.50 earnings per share. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. On average, research analysts predict that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $1.355 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.08%. The ex-dividend date is Friday, June 7th. PepsiCo’s dividend payout ratio (DPR) is 76.09%.

Analysts Set New Price Targets

PEP has been the topic of several research reports. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research report on Monday, March 18th. Wedbush reaffirmed an “outperform” rating and set a $195.00 price objective 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. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $180.00 price objective on shares of PepsiCo in a report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock 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.