O Brien Wealth Partners LLC Increases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Posted by Eileen French on May 26th, 2023

O Brien Wealth Partners LLC boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 126.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,384 shares of the company’s stock after acquiring an additional 772 shares during the quarter. O Brien Wealth Partners LLC’s holdings in PepsiCo were worth $250,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PEP. Jacobi Capital Management LLC lifted its position in shares of PepsiCo by 0.3% during the third quarter. Jacobi Capital Management LLC now owns 16,722 shares of the company’s stock valued at $2,730,000 after purchasing an additional 58 shares in the last quarter. Wealth Advisory Solutions LLC increased its stake in shares of PepsiCo by 1.7% in the third quarter. Wealth Advisory Solutions LLC now owns 3,545 shares of the company’s stock worth $579,000 after purchasing an additional 59 shares in the last quarter. Hofer & Associates. Inc increased its stake in shares of PepsiCo by 2.7% in the third quarter. Hofer & Associates. Inc now owns 2,319 shares of the company’s stock worth $379,000 after purchasing an additional 60 shares in the last quarter. One Plus One Wealth Management LLC increased its stake in shares of PepsiCo by 2.0% in the fourth quarter. One Plus One Wealth Management LLC now owns 3,115 shares of the company’s stock worth $563,000 after purchasing an additional 60 shares in the last quarter. Finally, D Orazio & Associates Inc. increased its stake in shares of PepsiCo by 0.8% in the fourth quarter. D Orazio & Associates Inc. now owns 7,355 shares of the company’s stock worth $1,331,000 after purchasing an additional 60 shares in the last quarter. 70.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 16,827 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $172.70, for a total value of $2,906,022.90. Following the sale, the chief executive officer now owns 49,000 shares in the company, valued at $8,462,300. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Robert C. Pohlad sold 75,000 shares of the business’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $172.47, for a total transaction of $12,935,250.00. Following the completion of the sale, the director now directly owns 183,929 shares of the company’s stock, valued at $31,722,234.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ramkumar Krishnan sold 16,827 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $172.70, for a total transaction of $2,906,022.90. Following the sale, the chief executive officer now directly owns 49,000 shares of the company’s stock, valued at $8,462,300. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on PEP shares. Morgan Stanley boosted their price objective on shares of PepsiCo from $200.00 to $210.00 in a research note on Tuesday, April 25th. StockNews.com initiated coverage on shares of PepsiCo in a report on Thursday, May 18th. They issued a “buy” rating for the company. JPMorgan Chase & Co. boosted their price objective on shares of PepsiCo from $190.00 to $196.00 and gave the stock an “overweight” rating in a report on Monday, April 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of PepsiCo from $188.00 to $193.00 in a report on Wednesday, April 26th. Finally, Citigroup started coverage on shares of PepsiCo in a research report on Thursday, February 16th. They issued a “neutral” rating and a $180.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $190.25.

PepsiCo Price Performance

NASDAQ:PEP traded down $0.62 during trading hours on Friday, hitting $183.18. 1,124,286 shares of the stock traded hands, compared to its average volume of 4,391,476. The company has a quick ratio of 0.65, a current ratio of 0.87 and a debt-to-equity ratio of 2.18. PepsiCo, Inc. has a 1 year low of $154.86 and a 1 year high of $196.88. The company has a market cap of $252.37 billion, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 3.23 and a beta of 0.53. The stock has a 50 day moving average price of $187.60 and a 200 day moving average price of $179.52.

PepsiCo (NASDAQ:PEP – Get Rating) last released its quarterly earnings data on Tuesday, April 25th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.13. The firm had revenue of $17.85 billion for the quarter, compared to analysts’ expectations of $17.27 billion. PepsiCo had a net margin of 7.48% and a return on equity of 53.68%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.29 earnings per share. Sell-side analysts forecast that PepsiCo, Inc. will post 7.3 EPS for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be given a $1.265 dividend. This represents a $5.06 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Thursday, June 1st. This is a boost from PepsiCo’s previous quarterly dividend of $1.15. PepsiCo’s payout ratio is currently 96.84%.

PepsiCo Company Profile

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PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of beverages, food, and snacks. It operates through the following business segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC).