Rench Wealth Management Inc. Acquires 346 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Rench Wealth Management Inc. grew its stake in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 18.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,247 shares of the company’s stock after buying an additional 346 shares during the period. Rench Wealth Management Inc.’s holdings in PepsiCo were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. OLD Mission Capital LLC bought a new position in PepsiCo during the third quarter valued at approximately $256,000. Keudell Morrison Wealth Management boosted its position in shares of PepsiCo by 5.7% during the 3rd quarter. Keudell Morrison Wealth Management now owns 5,324 shares of the company’s stock valued at $801,000 after acquiring an additional 289 shares during the last quarter. EagleClaw Capital Managment LLC increased its position in PepsiCo by 12.9% in the third quarter. EagleClaw Capital Managment LLC now owns 6,600 shares of the company’s stock worth $992,000 after purchasing an additional 755 shares during the last quarter. Vident Investment Advisory LLC raised its stake in PepsiCo by 7.1% during the third quarter. Vident Investment Advisory LLC now owns 16,333 shares of the company’s stock valued at $2,455,000 after purchasing an additional 1,082 shares in the last quarter. Finally, MV Capital Management Inc. grew its stake in shares of PepsiCo by 6.9% in the 3rd quarter. MV Capital Management Inc. now owns 2,682 shares of the company’s stock worth $403,000 after buying an additional 174 shares in the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP David Flavell sold 5,150 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $175.11, for a total transaction of $901,816.50. Following the completion of the sale, the executive vice president now owns 28,275 shares of the company’s stock, valued at $4,951,235.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Eugene Willemsen sold 4,560 shares of PepsiCo stock in a transaction on Monday, May 16th. The stock was sold at an average price of $175.61, for a total transaction of $800,781.60. Following the completion of the transaction, the chief executive officer now directly owns 8,277 shares in the company, valued at $1,453,523.97. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.

A number of equities research analysts have issued reports on the company. JPMorgan Chase & Co. raised their price objective on PepsiCo from $183.00 to $186.00 in a research note on Wednesday, April 27th. Morgan Stanley raised their target price on shares of PepsiCo from $172.00 to $188.00 and gave the stock an “overweight” rating in a report on Tuesday, February 8th. Credit Suisse Group upped their price target on shares of PepsiCo from $163.00 to $168.00 in a report on Wednesday, April 27th. Barclays decreased their price objective on shares of PepsiCo from $186.00 to $180.00 and set an “overweight” rating for the company in a research note on Monday, February 14th. Finally, Zacks Investment Research upgraded PepsiCo from a “sell” rating to a “hold” rating and set a $180.00 price target on the stock in a report on Monday, April 4th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $176.56.

Shares of PEP traded up $1.15 during midday trading on Wednesday, reaching $168.97. 5,779,768 shares of the stock were exchanged, compared to its average volume of 5,630,208. The company has a market capitalization of $233.63 billion, a P/E ratio of 23.11, a PEG ratio of 3.20 and a beta of 0.58. The company has a current ratio of 0.87, a quick ratio of 0.68 and a debt-to-equity ratio of 1.89. PepsiCo, Inc. has a 52 week low of $144.61 and a 52 week high of $177.62. The company’s 50 day moving average is $169.78 and its two-hundred day moving average is $168.38.

PepsiCo (NASDAQ:PEPGet Rating) last posted its earnings results on Tuesday, April 26th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. PepsiCo had a net margin of 12.57% and a return on equity of 53.44%. The business had revenue of $16.20 billion for the quarter, compared to the consensus estimate of $15.54 billion. During the same quarter last year, the firm posted $1.21 EPS. The company’s revenue for the quarter was up 9.3% on a year-over-year basis. On average, sell-side analysts expect that PepsiCo, Inc. will post 6.64 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Friday, June 3rd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.72%. The ex-dividend date is Thursday, June 2nd. This is a boost from PepsiCo’s previous quarterly dividend of $1.08. PepsiCo’s dividend payout ratio (DPR) is 58.82%.

PepsiCo Profile (Get Rating)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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