LMG Wealth Partners LLC Has $5.50 Million Stock Holdings in PepsiCo, Inc. $PEP

LMG Wealth Partners LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 13.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 35,421 shares of the company’s stock after purchasing an additional 4,287 shares during the quarter. LMG Wealth Partners LLC’s holdings in PepsiCo were worth $5,501,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PEP. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in PepsiCo in the fourth quarter valued at about $26,000. Swiss RE Ltd. acquired a new position in shares of PepsiCo during the 4th quarter worth about $28,000. MH & Associates Securities Management Corp ADV bought a new stake in shares of PepsiCo in the 4th quarter valued at about $29,000. Imprint Wealth LLC acquired a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $31,000. Finally, Strategic Advocates LLC acquired a new stake in shares of PepsiCo in the 3rd quarter valued at approximately $33,000. 73.07% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. TD Cowen decreased their price objective on shares of PepsiCo from $165.00 to $150.00 and set a “hold” rating for the company in a report on Friday, June 12th. JPMorgan Chase & Co. lifted their price target on shares of PepsiCo from $172.00 to $178.00 and gave the stock an “overweight” rating in a research report on Friday, April 17th. Weiss Ratings reissued a “hold (c)” rating on shares of PepsiCo in a report on Wednesday, April 8th. Rothschild & Co Redburn upped their price objective on shares of PepsiCo from $130.00 to $132.00 in a research report on Monday, May 11th. Finally, Royal Bank Of Canada dropped their price objective on PepsiCo from $165.00 to $163.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 9th. Eight research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $167.10.

PepsiCo Stock Performance

Shares of PEP stock opened at $140.71 on Tuesday. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.72 and a current ratio of 0.90. PepsiCo, Inc. has a 52 week low of $127.60 and a 52 week high of $171.48. The company’s 50 day moving average price is $149.56 and its two-hundred day moving average price is $152.20. The company has a market capitalization of $192.32 billion, a P/E ratio of 22.09, a price-to-earnings-growth ratio of 2.83 and a beta of 0.35.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, April 15th. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate 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 earned $1.48 earnings per share. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, analysts expect that PepsiCo, Inc. will post 8.63 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, June 5th will be paid a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Friday, June 5th. This is a boost from PepsiCo’s previous quarterly dividend of $1.42. PepsiCo’s dividend payout ratio (DPR) is currently 92.94%.

About PepsiCo

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.