Thrive Wealth Management LLC Boosts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Thrive Wealth Management LLC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 18.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,713 shares of the company’s stock after acquiring an additional 745 shares during the period. Thrive Wealth Management LLC’s holdings in PepsiCo were worth $825,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Amplius Wealth Advisors LLC increased its position in PepsiCo by 2.8% in the fourth quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after purchasing an additional 60 shares during the last quarter. Sugarloaf Wealth Management LLC increased its position in PepsiCo by 2.6% in the fourth quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock worth $411,000 after purchasing an additional 61 shares during the last quarter. SYM FINANCIAL Corp increased its position in PepsiCo by 2.7% in the fourth quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock worth $389,000 after purchasing an additional 61 shares during the last quarter. Clearwater Capital Advisors LLC increased its position in PepsiCo by 2.3% in the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after purchasing an additional 61 shares during the last quarter. Finally, Security Financial Services INC. increased its position in PepsiCo by 1.6% in the first quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock worth $690,000 after purchasing an additional 61 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Insiders Place Their Bets

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

PepsiCo Stock Down 0.6 %

Shares of PEP stock traded down $1.06 on Friday, hitting $165.20. The stock had a trading volume of 488,188 shares, compared to its average volume of 5,450,685. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The business has a 50 day moving average price of $173.68 and a 200 day moving average price of $170.35. The company has a market cap of $227.12 billion, a PE ratio of 25.00, a P/E/G ratio of 2.74 and a beta of 0.52. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $192.38.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 earnings per share. Research analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company 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 $1.355 dividend. The ex-dividend date is Friday, June 7th. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a yield of 3.28%. PepsiCo’s payout ratio is currently 81.50%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays dropped their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, June 12th. Wedbush reaffirmed an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group lifted their price objective on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Finally, BNP Paribas assumed coverage on shares of PepsiCo in a research note on Monday. They set a “neutral” rating and a $174.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $186.38.

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.