BerganKDV Wealth Management LLC Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

BerganKDV Wealth Management LLC decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 22.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,131 shares of the company’s stock after selling 3,574 shares during the period. BerganKDV Wealth Management LLC’s holdings in PepsiCo were worth $2,022,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Cordant Inc. purchased a new position in PepsiCo in the first quarter worth $27,000. Strategic Asset Management LLC boosted its position in PepsiCo by 53.3% in the first quarter. Strategic Asset Management LLC now owns 276 shares of the company’s stock worth $46,000 after purchasing an additional 96 shares during the last quarter. Landmark Wealth Management LLC purchased a new position in PepsiCo in the first quarter worth $29,000. Retirement Group LLC boosted its position in PepsiCo by 100.0% in the first quarter. Retirement Group LLC now owns 322 shares of the company’s stock worth $54,000 after purchasing an additional 161 shares during the last quarter. Finally, Lansing Street Advisors purchased a new position in PepsiCo in the first quarter worth $58,000. Hedge funds and other institutional investors own 71.38% of the company’s stock.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 3,433 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $174.83, for a total transaction of $600,191.39. Following the completion of the transaction, the chief executive officer now owns 50,577 shares of the company’s stock, valued at approximately $8,842,376.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Steven C. Williams sold 1,753 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $171.18, for a total value of $300,078.54. Following the completion of the transaction, the chief executive officer now owns 70,892 shares of the company’s stock, valued at approximately $12,135,292.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $174.83, for a total value of $600,191.39. Following the completion of the transaction, the chief executive officer now directly owns 50,577 shares of the company’s stock, valued at approximately $8,842,376.91. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on PEP. UBS Group lowered their target price on PepsiCo from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Tuesday, June 21st. Wells Fargo & Company reduced their target price on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 21st. JPMorgan Chase & Co. reduced their target price on PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Credit Suisse Group boosted their target price on PepsiCo from $168.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 13th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on PepsiCo from $175.00 to $178.00 and gave the stock a “hold” rating in a research report on Thursday, July 7th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, PepsiCo currently has an average rating of “Moderate Buy” and a consensus target price of $182.00.

PepsiCo Trading Up 0.1 %

Shares of PEP stock opened at $168.60 on Friday. The stock has a market capitalization of $232.65 billion, a PE ratio of 25.39, a P/E/G ratio of 3.30 and a beta of 0.55. PepsiCo, Inc. has a 1-year low of $149.48 and a 1-year high of $181.07. The business has a 50-day moving average of $173.32 and a 200 day moving average of $170.45. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEPGet Rating) last issued its earnings results on Tuesday, July 12th. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.13. The company had revenue of $20.23 billion during the quarter, compared to analysts’ expectations of $19.51 billion. PepsiCo had a return on equity of 52.01% and a net margin of 11.28%. PepsiCo’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 EPS. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 6.66 earnings per share for the current year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Thursday, September 1st. PepsiCo’s payout ratio is 69.28%.

PepsiCo Company Profile

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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.

See Also

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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