PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Procyon Advisors LLC

Procyon Advisors LLC grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 54.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,692 shares of the company’s stock after purchasing an additional 14,020 shares during the period. Procyon Advisors LLC’s holdings in PepsiCo were worth $6,946,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cardinal Capital Management boosted its stake in shares of PepsiCo by 5.4% in the first quarter. Cardinal Capital Management now owns 30,982 shares of the company’s stock worth $5,459,000 after buying an additional 1,590 shares during the last quarter. ERn Financial LLC boosted its stake in shares of PepsiCo by 2.3% in the first quarter. ERn Financial LLC now owns 5,924 shares of the company’s stock worth $1,037,000 after buying an additional 136 shares during the last quarter. Franklin Street Advisors Inc. NC boosted its position in PepsiCo by 12.6% during the first quarter. Franklin Street Advisors Inc. NC now owns 6,270 shares of the company’s stock worth $1,097,000 after purchasing an additional 700 shares in the last quarter. Graybill Wealth Management LTD. boosted its position in PepsiCo by 2.7% during the first quarter. Graybill Wealth Management LTD. now owns 16,539 shares of the company’s stock worth $2,894,000 after purchasing an additional 441 shares in the last quarter. Finally, Exeter Financial LLC boosted its position in PepsiCo by 1.3% during the first quarter. Exeter Financial LLC now owns 23,166 shares of the company’s stock worth $3,930,000 after purchasing an additional 305 shares in the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

NASDAQ:PEP traded down $0.48 during trading hours on Thursday, reaching $166.26. 4,322,067 shares of the company traded hands, compared to its average volume of 5,491,849. The firm’s 50-day moving average is $173.68 and its 200-day moving average is $170.35. The stock has a market cap of $228.57 billion, a P/E ratio of 25.00, a P/E/G ratio of 2.75 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $192.38.

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

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, June 7th. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.26%. PepsiCo’s dividend payout ratio (DPR) is currently 81.50%.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. BNP Paribas assumed coverage on PepsiCo in a research report on Monday. They issued a “neutral” rating and a $174.00 target price on the stock. Wedbush reiterated an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. lifted their target price on PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research report on Wednesday. Jefferies Financial Group lifted their target price on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Finally, Barclays reduced their target price on PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, PepsiCo has an average rating of “Hold” and a consensus price target of $186.38.

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.