Advisors Asset Management Inc. lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 19.1% in the fourth quarter, HoldingsChannel reports. The firm owned 133,715 shares of the company’s stock after selling 31,566 shares during the quarter. Advisors Asset Management Inc.’s holdings in PepsiCo were worth $14,773,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of PEP. Cordatus Wealth Management LLC acquired a new stake in PepsiCo in the 4th quarter worth about $566,000. Telos Capital Management Inc. boosted its stake in PepsiCo by 0.3% in the 4th quarter. Telos Capital Management Inc. now owns 34,032 shares of the company’s stock worth $3,760,000 after buying an additional 101 shares during the last quarter. Harvey Investment Co. LLC boosted its stake in PepsiCo by 0.7% in the 4th quarter. Harvey Investment Co. LLC now owns 106,322 shares of the company’s stock worth $11,746,000 after buying an additional 705 shares during the last quarter. HCR Wealth Advisors acquired a new stake in PepsiCo in the 4th quarter worth about $434,000. Finally, Wedbush Securities Inc. boosted its stake in PepsiCo by 20.7% in the 4th quarter. Wedbush Securities Inc. now owns 24,108 shares of the company’s stock worth $2,663,000 after buying an additional 4,133 shares during the last quarter. Hedge funds and other institutional investors own 71.79% of the company’s stock.
PepsiCo stock opened at $129.35 on Thursday. The company has a market cap of $178.26 billion, a P/E ratio of 22.85, a P/E/G ratio of 3.30 and a beta of 0.66. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 1.99. PepsiCo, Inc. has a one year low of $96.55 and a one year high of $129.87.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, April 17th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. The firm had revenue of $12.88 billion for the quarter, compared to analyst estimates of $12.68 billion. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. PepsiCo’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 EPS. Sell-side analysts expect that PepsiCo, Inc. will post 5.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $0.955 per share. The ex-dividend date is Thursday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $0.93. This represents a $3.82 annualized dividend and a yield of 2.95%. PepsiCo’s payout ratio is 65.55%.
In related news, CEO Vivek Sankaran sold 13,000 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $117.28, for a total transaction of $1,524,640.00. Following the transaction, the chief executive officer now directly owns 90,379 shares of the company’s stock, valued at approximately $10,599,649.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Yawman sold 25,263 shares of PepsiCo stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $126.42, for a total value of $3,193,748.46. Following the sale, the executive vice president now owns 80,934 shares in the company, valued at $10,231,676.28. The disclosure for this sale can be found here. Insiders have sold a total of 46,063 shares of company stock worth $5,701,110 over the last three months. 0.28% of the stock is currently owned by corporate insiders.
PEP has been the topic of a number of research analyst reports. Goldman Sachs Group set a $132.00 price target on PepsiCo and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Royal Bank of Canada set a $115.00 price objective on PepsiCo and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Morgan Stanley lifted their price objective on PepsiCo from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, February 19th. Finally, SunTrust Banks lifted their price objective on PepsiCo to $120.00 and gave the company a “hold” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $124.65.
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PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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