Endurance Wealth Management Inc. lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,210 shares of the company’s stock after buying an additional 318 shares during the quarter. PepsiCo comprises about 1.2% of Endurance Wealth Management Inc.’s holdings, making the stock its 25th biggest holding. Endurance Wealth Management Inc.’s holdings in PepsiCo were worth $6,391,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. AXA raised its position in PepsiCo by 5.7% in the 4th quarter. AXA now owns 1,288,316 shares of the company’s stock valued at $176,074,000 after purchasing an additional 68,968 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in PepsiCo in the 4th quarter valued at $1,290,000. Cetera Advisors LLC raised its position in PepsiCo by 0.6% in the 4th quarter. Cetera Advisors LLC now owns 43,732 shares of the company’s stock valued at $5,981,000 after purchasing an additional 279 shares during the last quarter. First American Bank raised its position in PepsiCo by 1.6% in the 1st quarter. First American Bank now owns 326,139 shares of the company’s stock valued at $39,169,000 after purchasing an additional 5,071 shares during the last quarter. Finally, Vestcor Investment Management Corp purchased a new stake in PepsiCo in the 4th quarter valued at $13,160,000. Hedge funds and other institutional investors own 70.84% of the company’s stock.
PEP has been the topic of several recent research reports. Citigroup dropped their price objective on shares of PepsiCo from $157.00 to $148.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 29th. Royal Bank of Canada reissued a “buy” rating and issued a $153.00 price objective on shares of PepsiCo in a research note on Tuesday, April 14th. Cfra boosted their price objective on shares of PepsiCo from $145.00 to $150.00 and gave the company a “strong-buy” rating in a research note on Tuesday, April 28th. Evercore ISI raised shares of PepsiCo from an “in-line” rating to an “outperform” rating and set a $130.00 price objective on the stock in a research note on Tuesday, March 17th. Finally, Guggenheim boosted their price objective on shares of PepsiCo from $134.00 to $145.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $142.00.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, April 28th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $1.03 by $0.04. PepsiCo had a net margin of 10.62% and a return on equity of 55.74%. The business had revenue of $13.88 billion for the quarter, compared to analyst estimates of $13.20 billion. During the same period in the previous year, the firm earned $0.97 EPS. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year. As a group, analysts expect that PepsiCo, Inc. will post 5.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Friday, June 5th will be issued a $1.0225 dividend. This represents a $4.09 dividend on an annualized basis and a yield of 3.13%. This is a positive change from PepsiCo’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Thursday, June 4th. PepsiCo’s dividend payout ratio is 69.08%.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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