Summit Financial LLC Has $1.65 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Summit Financial LLC raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,612 shares of the company’s stock after buying an additional 1,153 shares during the quarter. Summit Financial LLC’s holdings in PepsiCo were worth $1,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. LFA Lugano Financial Advisors SA boosted its holdings in PepsiCo by 80.5% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after acquiring an additional 70 shares during the last quarter. Life Planning Partners Inc bought a new stake in shares of PepsiCo during the 4th quarter valued at $34,000. Naples Money Management LLC acquired a new stake in shares of PepsiCo during the fourth quarter worth $36,000. Criterion Capital Advisors LLC acquired a new position in PepsiCo in the fourth quarter valued at about $39,000. Finally, Avion Wealth grew its position in shares of PepsiCo by 61.7% during the 4th quarter. Avion Wealth now owns 241 shares of the company’s stock worth $41,000 after buying an additional 92 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP stock traded up $0.67 during trading on Thursday, reaching $175.82. 456,499 shares of the company were exchanged, compared to its average volume of 5,725,581. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $196.88. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. The company has a market capitalization of $241.72 billion, a price-to-earnings ratio of 26.34, a P/E/G ratio of 2.87 and a beta of 0.52. The company has a 50-day moving average of $169.87 and a two-hundred day moving average of $168.21.

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

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is currently 76.09%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Barclays increased their price target on PepsiCo from $184.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Citigroup upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $180.00 to $195.00 in a report on Monday, February 12th. StockNews.com downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Finally, Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a report on Monday, March 18th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $187.42.

PepsiCo Company 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.