Concord Wealth Partners Buys 2,378 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Concord Wealth Partners grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 18.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,269 shares of the company’s stock after acquiring an additional 2,378 shares during the quarter. Concord Wealth Partners’ holdings in PepsiCo were worth $2,593,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PEP. Charles Schwab Investment Management Inc. lifted its holdings in shares of PepsiCo by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 18,423,845 shares of the company’s stock valued at $3,121,736,000 after purchasing an additional 920,032 shares in the last quarter. Northern Trust Corp lifted its holdings in PepsiCo by 3.7% in the third quarter. Northern Trust Corp now owns 16,878,022 shares of the company’s stock valued at $2,859,812,000 after acquiring an additional 595,357 shares during the period. California Public Employees Retirement System lifted its holdings in PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after acquiring an additional 1,470,064 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in PepsiCo by 9.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 7,316,036 shares of the company’s stock valued at $1,239,629,000 after acquiring an additional 608,321 shares during the period. Finally, Deutsche Bank AG lifted its holdings in PepsiCo by 2.1% in the third quarter. Deutsche Bank AG now owns 6,774,800 shares of the company’s stock valued at $1,147,922,000 after acquiring an additional 142,243 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Stock Performance

Shares of PEP traded up $0.08 during trading hours on Wednesday, hitting $175.99. The stock had a trading volume of 2,353,896 shares, compared to its average volume of 5,764,251. 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 firm has a 50-day moving average price of $169.74 and a 200 day moving average price of $168.16. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $196.88. The firm has a market capitalization of $241.95 billion, a price-to-earnings ratio of 26.33, a PEG ratio of 2.87 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its 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. The firm had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business’s revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.50 EPS. As a group, research analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages have commented on PEP. Wedbush restated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research report on Tuesday, April 23rd. Citigroup upgraded PepsiCo from a “neutral” rating to a “buy” rating and increased their target price for the stock from $180.00 to $195.00 in a research report on Monday, February 12th. JPMorgan Chase & Co. increased their target price on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Jefferies Financial Group increased their target price on PepsiCo from $199.00 to $209.00 and gave the stock a “buy” rating in a research report on Friday, April 5th. Finally, StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Monday, February 12th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average 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.