PepsiCo, Inc. (NASDAQ:PEP) Position Lifted by Sendero Wealth Management LLC

Sendero Wealth Management LLC lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.4% during the first quarter, HoldingsChannel reports. The institutional investor owned 20,974 shares of the company’s stock after purchasing an additional 294 shares during the period. Sendero Wealth Management LLC’s holdings in PepsiCo were worth $3,671,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of PEP. LFA Lugano Financial Advisors SA lifted its position 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 worth $27,000 after buying an additional 70 shares during the last quarter. Fortis Group Advisors LLC lifted its position in shares of PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares during the last quarter. Life Planning Partners Inc bought a new position in shares of PepsiCo in the 4th quarter worth about $34,000. Naples Money Management LLC bought a new position in shares of PepsiCo in the 4th quarter worth about $36,000. Finally, Criterion Capital Advisors LLC bought a new position in shares of PepsiCo in the 4th quarter worth about $39,000. 73.07% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

PEP has been the topic of a number of analyst reports. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a report on Monday, March 18th. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Barclays dropped their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Wedbush reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group increased their price objective on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $186.38.

PepsiCo Price Performance

Shares of PEP traded down $1.33 during mid-day trading on Friday, hitting $164.93. The company’s stock had a trading volume of 8,755,931 shares, compared to its average volume of 5,518,207. The firm has a 50-day moving average price of $173.37 and a 200 day moving average price of $170.30. The stock has a market capitalization of $226.74 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 2.74 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 10.00% and a return on equity of 57.37%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS. On average, research analysts predict that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $1.355 dividend. The ex-dividend date is Friday, June 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.29%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is currently 81.50%.

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.