AlphaCore Capital LLC Has $4.08 Million Stock Position in PepsiCo, Inc. $PEP

AlphaCore Capital LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 57.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,182 shares of the company’s stock after buying an additional 10,306 shares during the quarter. AlphaCore Capital LLC’s holdings in PepsiCo were worth $4,083,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Captrust Financial Advisors lifted its stake in shares of PepsiCo by 3.6% in the third quarter. Captrust Financial Advisors now owns 554,798 shares of the company’s stock worth $77,916,000 after buying an additional 19,218 shares during the last quarter. Murphy Middleton Hinkle & Parker Inc. lifted its stake in shares of PepsiCo by 622.3% in the fourth quarter. Murphy Middleton Hinkle & Parker Inc. now owns 35,603 shares of the company’s stock worth $5,110,000 after buying an additional 30,674 shares during the last quarter. Swiss Life Asset Management Ltd lifted its stake in shares of PepsiCo by 11.4% in the fourth quarter. Swiss Life Asset Management Ltd now owns 415,271 shares of the company’s stock worth $59,600,000 after buying an additional 42,335 shares during the last quarter. Mediolanum International Funds Ltd lifted its stake in shares of PepsiCo by 19.3% in the third quarter. Mediolanum International Funds Ltd now owns 252,916 shares of the company’s stock worth $35,451,000 after buying an additional 40,947 shares during the last quarter. Finally, Townsquare Capital LLC lifted its stake in shares of PepsiCo by 96.5% in the third quarter. Townsquare Capital LLC now owns 40,383 shares of the company’s stock worth $5,671,000 after buying an additional 19,829 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of analyst reports. Wall Street Zen cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Saturday, April 18th. Evercore upped their target price on shares of PepsiCo from $165.00 to $170.00 in a research note on Friday, April 17th. Piper Sandler upped their target price on shares of PepsiCo from $172.00 to $181.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Deutsche Bank Aktiengesellschaft upped their target price on shares of PepsiCo from $169.00 to $173.00 and gave the company a “buy” rating in a research note on Friday, April 17th. Finally, Rothschild & Co Redburn upped their target price on shares of PepsiCo from $130.00 to $132.00 in a research note on Monday, May 11th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $170.37.

PepsiCo Price Performance

NASDAQ:PEP opened at $149.12 on Friday. The stock has a market cap of $203.81 billion, a P/E ratio of 23.41, a PEG ratio of 2.73 and a beta of 0.38. PepsiCo, Inc. has a one year low of $127.60 and a one year high of $171.48. The company has a fifty day moving average price of $155.25 and a 200 day moving average price of $152.42. The company has a debt-to-equity ratio of 1.98, a current ratio of 0.90 and a quick ratio of 0.72.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Wednesday, April 15th. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.55 by $0.06. PepsiCo had a net margin of 9.15% and a return on equity of 56.61%. The company had revenue of $19.44 billion during the quarter, compared to analysts’ expectations of $18.89 billion. During the same quarter in the prior year, the company posted $1.48 EPS. The business’s revenue was up 8.5% on a year-over-year basis. Analysts anticipate that PepsiCo, Inc. will post 8.63 earnings per share for the current year.

PepsiCo announced that its board has authorized a stock repurchase plan on Tuesday, February 3rd that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th will be paid a $1.48 dividend. The ex-dividend date is Friday, June 5th. This represents a $5.92 dividend on an annualized basis and a dividend yield of 4.0%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio is currently 89.32%.

PepsiCo Profile

PepsiCo, Inc (NASDAQ: PEP) is a multinational food and beverage company headquartered in Purchase, New York. The company develops, manufactures, markets and sells a broad portfolio of branded food and beverage products, including carbonated and noncarbonated soft drinks, bottled water, sports drinks, juices, ready-to-drink teas and coffees, salty snacks, cereals, and other convenient foods. Its leading consumer brands include Pepsi, Mountain Dew, Gatorade, Tropicana, Quaker, Lay’s, Doritos and Cheetos, among others.

Formed through the 1965 merger of Pepsi-Cola and Frito-Lay, PepsiCo has grown into a global business with integrated manufacturing, distribution and marketing operations.