Exeter Financial LLC Raises Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Exeter Financial LLC grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 23,166 shares of the company’s stock after acquiring an additional 305 shares during the quarter. PepsiCo comprises 1.8% of Exeter Financial LLC’s investment portfolio, making the stock its 16th biggest holding. Exeter Financial LLC’s holdings in PepsiCo were worth $3,930,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Investment Partners Asset Management Inc. boosted its position in shares of PepsiCo by 33.7% in the 1st quarter. Investment Partners Asset Management Inc. now owns 2,860 shares of the company’s stock valued at $501,000 after purchasing an additional 721 shares during the period. Agate Pass Investment Management LLC lifted its position in PepsiCo by 6.0% during the 1st quarter. Agate Pass Investment Management LLC now owns 16,046 shares of the company’s stock worth $2,808,000 after acquiring an additional 905 shares during the period. Signet Financial Management LLC lifted its position in PepsiCo by 2.2% during the 1st quarter. Signet Financial Management LLC now owns 8,650 shares of the company’s stock worth $1,514,000 after acquiring an additional 187 shares during the period. Safir Wealth Advisors LLC acquired a new stake in PepsiCo during the 1st quarter worth approximately $247,000. Finally, Wealthcare Advisory Partners LLC lifted its position in PepsiCo by 25.8% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 20,963 shares of the company’s stock worth $3,669,000 after acquiring an additional 4,304 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.3 %

Shares of PEP traded down $0.53 during midday trading on Thursday, reaching $166.21. 1,493,750 shares of the company were exchanged, compared to its average volume of 5,468,416. The stock has a 50-day moving average price of $173.73 and a 200-day moving average price of $170.37. The company has a market cap of $228.50 billion, a price-to-earnings ratio of 25.07, a P/E/G ratio of 2.75 and a beta of 0.52. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $192.38. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $18.08 billion. During the same period in the previous year, the company earned $1.50 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Research analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current 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 given a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.26%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date of this dividend is Friday, June 7th. PepsiCo’s payout ratio is presently 81.50%.

Analysts Set New Price Targets

PEP has been the subject of a number of analyst reports. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Jefferies Financial Group raised their price objective on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Wedbush reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a research note on Monday, March 18th. Finally, JPMorgan Chase & Co. raised their price objective on PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $186.38.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by corporate insiders.

PepsiCo 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.