Endurance Wealth Management Inc. lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,210 shares of the company’s stock after acquiring an additional 318 shares during the quarter. PepsiCo accounts for 1.2% of Endurance Wealth Management Inc.’s holdings, making the stock its 25th biggest position. Endurance Wealth Management Inc.’s holdings in PepsiCo were worth $6,391,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in PEP. Norges Bank acquired a new stake in PepsiCo during the fourth quarter valued at $1,985,537,000. BlackRock Inc. grew its position in PepsiCo by 2.6% during the first quarter. BlackRock Inc. now owns 109,109,695 shares of the company’s stock valued at $13,104,075,000 after buying an additional 2,724,092 shares during the period. M&G Investment Management Ltd. acquired a new stake in PepsiCo during the fourth quarter valued at $282,782,000. Swiss National Bank grew its position in PepsiCo by 21.1% during the first quarter. Swiss National Bank now owns 6,487,279 shares of the company’s stock valued at $779,122,000 after buying an additional 1,131,600 shares during the period. Finally, AQR Capital Management LLC grew its position in PepsiCo by 17.6% during the fourth quarter. AQR Capital Management LLC now owns 6,494,987 shares of the company’s stock valued at $887,085,000 after buying an additional 972,837 shares during the period. Hedge funds and other institutional investors own 70.84% of the company’s stock.
PEP has been the topic of several analyst reports. Credit Suisse Group upgraded shares of PepsiCo from an “underperform” rating to an “outperform” rating and raised their price target for the company from $138.00 to $144.00 in a research report on Friday, March 27th. Goldman Sachs Group began coverage on shares of PepsiCo in a research report on Wednesday, April 1st. They set a “conviction-buy” rating on the stock. Guggenheim increased their price objective on shares of PepsiCo from $134.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. DZ Bank reaffirmed a “buy” rating and set a $136.00 price objective on shares of PepsiCo in a report on Thursday, March 26th. Finally, Citigroup decreased their price objective on shares of PepsiCo from $157.00 to $148.00 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. PepsiCo presently has a consensus rating of “Buy” and an average target price of $142.00.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.04. The firm had revenue of $13.88 billion for the quarter, compared to the consensus estimate of $13.20 billion. PepsiCo had a net margin of 10.62% and a return on equity of 55.74%. The company’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the firm posted $0.97 earnings per share. On average, sell-side analysts predict that PepsiCo, Inc. will post 5.32 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be given a dividend of $1.0225 per share. This is a boost from PepsiCo’s previous quarterly dividend of $0.96. This represents a $4.09 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, June 4th. PepsiCo’s dividend payout ratio (DPR) is presently 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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