Naviter Wealth LLC Buys 2,419 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Naviter Wealth LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 17.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,057 shares of the company’s stock after purchasing an additional 2,419 shares during the period. Naviter Wealth LLC’s holdings in PepsiCo were worth $2,829,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. LFA Lugano Financial Advisors SA increased its holdings in PepsiCo by 80.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after purchasing an additional 70 shares during the period. Fortis Group Advisors LLC increased its holdings in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the period. Life Planning Partners Inc purchased a new position in PepsiCo during the 4th quarter worth $34,000. Kathleen S. Wright Associates Inc. purchased a new position in PepsiCo during the 1st quarter worth $35,000. Finally, Naples Money Management LLC purchased a new position in PepsiCo during the 4th quarter worth $36,000. 73.07% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PEP. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a report on Monday, March 18th. Barclays cut their price target on PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Wedbush reiterated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a report on Tuesday, April 23rd. Jefferies Financial Group lifted their price target on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Finally, JPMorgan Chase & Co. lifted their price target on PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a report on Wednesday, June 26th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $186.38.

PepsiCo Stock Performance

Shares of PEP opened at $163.58 on Wednesday. The stock has a 50-day moving average of $173.10 and a two-hundred day moving average of $170.26. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $192.38. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The stock has a market cap of $224.89 billion, a P/E ratio of 24.60, a P/E/G ratio of 2.71 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. During the same quarter in the previous year, the firm posted $1.50 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.31%. The ex-dividend date was Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is 81.50%.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was 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 owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.

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.