Edge Wealth Management LLC Has $551,000 Position in PepsiCo, Inc. (NASDAQ:PEP)

Edge Wealth Management LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,150 shares of the company’s stock after purchasing an additional 110 shares during the quarter. Edge Wealth Management LLC’s holdings in PepsiCo were worth $551,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PEP. Amplius Wealth Advisors LLC grew its stake in shares of PepsiCo by 2.8% during the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after acquiring an additional 60 shares in the last quarter. Sugarloaf Wealth Management LLC increased its stake in PepsiCo by 2.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $411,000 after buying an additional 61 shares during the last quarter. SYM FINANCIAL Corp grew its holdings in shares of PepsiCo by 2.7% in the 4th quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock valued at $389,000 after acquiring an additional 61 shares in the last quarter. Clearwater Capital Advisors LLC raised its holdings in PepsiCo by 2.3% during the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after acquiring an additional 61 shares in the last quarter. Finally, Security Financial Services INC. grew its stake in PepsiCo by 1.6% in the first quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock valued at $690,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of analyst reports. Barclays decreased their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. JPMorgan Chase & Co. increased their price target on PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group boosted their price objective on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Finally, Wedbush restated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $186.38.

PepsiCo Price Performance

Shares of PEP traded down $1.02 during trading hours on Friday, reaching $165.24. The stock had a trading volume of 383,173 shares, compared to its average volume of 5,450,685. The stock has a market capitalization of $227.17 billion, a PE ratio of 25.00, a PEG ratio of 2.74 and a beta of 0.52. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The company’s 50-day moving average is $173.68 and its two-hundred day moving average is $170.35.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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 return on equity of 57.37% and a net margin of 10.00%. The company had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. During the same quarter in the prior year, the firm posted $1.50 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Research analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Friday, June 7th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s payout ratio is 81.50%.

Insider Activity

In related news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total value of $1,000,360.00. Following the transaction, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

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.