Ashton Thomas Private Wealth LLC Has $7.91 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Ashton Thomas Private Wealth LLC lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 38.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,183 shares of the company’s stock after purchasing an additional 12,598 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in PepsiCo were worth $7,908,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. LFA Lugano Financial Advisors SA increased its holdings in shares of PepsiCo by 80.5% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after purchasing an additional 70 shares during the period. Fortis Group Advisors LLC increased its holdings in shares of PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the period. Life Planning Partners Inc bought a new position in shares of PepsiCo during the 4th quarter worth about $34,000. Kathleen S. Wright Associates Inc. bought a new position in shares of PepsiCo during the 1st quarter worth about $35,000. Finally, Naples Money Management LLC bought a new position in shares of PepsiCo during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 0.4 %

Shares of PEP stock traded up $0.72 during trading hours on Friday, hitting $163.32. 670,439 shares of the company were exchanged, compared to its average volume of 5,445,051. The business has a 50 day moving average of $172.37 and a two-hundred day moving average of $170.13. 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, Inc. has a 52 week low of $155.83 and a 52 week high of $192.38. The company has a market capitalization of $224.53 billion, a PE ratio of 24.45, a PEG ratio of 2.67 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. 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 earned $1.50 earnings per share. The firm’s revenue was up 2.3% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date was Friday, June 7th. This represents a $5.42 annualized dividend and a yield of 3.32%. PepsiCo’s dividend payout ratio is presently 81.50%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Argus lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group upped their target price on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. BNP Paribas started coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research report on Monday, March 18th. Finally, TD Cowen dropped their price target on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $186.64.

Insider Buying and Selling

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction on Thursday, May 9th. The shares were 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 owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently 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.