OneAscent Wealth Management LLC Has $1.06 Million Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

OneAscent Wealth Management LLC grew its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,038 shares of the company’s stock after acquiring an additional 246 shares during the quarter. OneAscent Wealth Management LLC’s holdings in PepsiCo were worth $1,064,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of PEP. Norges Bank bought a new stake in shares of PepsiCo in the fourth quarter worth $2,686,139,000. International Assets Investment Management LLC grew its holdings in shares of PepsiCo by 9,623.6% in the 4th quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after acquiring an additional 3,026,611 shares in the last quarter. Flossbach Von Storch AG grew its position in shares of PepsiCo by 121.4% in the 4th quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock valued at $463,259,000 after acquiring an additional 1,495,586 shares during the period. California Public Employees Retirement System lifted its stake in PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after purchasing an additional 1,470,064 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after buying an additional 1,345,065 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PEP. BNP Paribas began coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Barclays decreased their target price on PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Wedbush restated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research note on Tuesday, April 23rd. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, 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. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $186.38.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at approximately $9,603,634. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

PepsiCo Stock Performance

PepsiCo stock traded down $1.33 during trading on Friday, reaching $164.93. The company had a trading volume of 8,756,033 shares, compared to its average volume of 5,392,291. The firm’s 50-day simple moving average is $173.37 and its 200 day simple moving average is $170.30. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week 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. The firm has a market capitalization of $226.74 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 2.73 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.52 by $0.09. The firm had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the firm earned $1.50 EPS. Sell-side analysts forecast that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s payout ratio is presently 81.50%.

About PepsiCo

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.