Grove Bank & Trust Boosts Stake in PepsiCo, Inc. (NASDAQ:PEP)

Grove Bank & Trust lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 13.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,535 shares of the company’s stock after buying an additional 1,008 shares during the quarter. Grove Bank & Trust’s holdings in PepsiCo were worth $1,280,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. WealthTrak Capital Management LLC acquired a new position in PepsiCo during the fourth quarter worth $28,000. Creative Capital Management Investments LLC acquired a new position in shares of PepsiCo in the fourth quarter worth $30,000. Prudent Man Investment Management Inc. acquired a new position in shares of PepsiCo in the fourth quarter worth $30,000. Measured Risk Portfolios Inc. acquired a new position in shares of PepsiCo in the fourth quarter worth $31,000. Finally, Summit Securities Group LLC acquired a new position in shares of PepsiCo in the fourth quarter worth $33,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $131.41 on Tuesday. The company has a current ratio of 0.82, a quick ratio of 0.65 and a debt-to-equity ratio of 2.05. PepsiCo, Inc. has a 1 year low of $127.75 and a 1 year high of $180.91. The business has a fifty day simple moving average of $134.45 and a 200 day simple moving average of $144.73. The firm has a market cap of $180.17 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 3.09 and a beta of 0.45.

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

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $1.4225 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.36. This represents a $5.69 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend is Friday, June 6th. PepsiCo’s dividend payout ratio (DPR) is currently 83.68%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PEP shares. JPMorgan Chase & Co. boosted their price target on PepsiCo from $158.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, April 21st. Evercore ISI set a $140.00 price target on PepsiCo in a report on Thursday, April 24th. Jefferies Financial Group lowered PepsiCo from a “buy” rating to a “hold” rating and dropped their target price for the company from $171.00 to $170.00 in a research note on Wednesday, March 12th. Bank of America dropped their target price 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, Royal Bank of Canada reiterated a “sector perform” rating and issued a $163.00 target price on shares of PepsiCo in a research note on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $160.69.

PepsiCo 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.