Carret Asset Management LLC Sells 670 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Carret Asset Management LLC lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 0.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,767 shares of the company’s stock after selling 670 shares during the quarter. PepsiCo accounts for approximately 1.4% of Carret Asset Management LLC’s investment portfolio, making the stock its 13th biggest holding. Carret Asset Management LLC’s holdings in PepsiCo were worth $12,012,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. West Oak Capital LLC raised its holdings in shares of PepsiCo by 0.4% in the 4th quarter. West Oak Capital LLC now owns 14,389 shares of the company’s stock worth $2,500,000 after purchasing an additional 60 shares during the period. Lenox Wealth Advisors LLC raised its holdings in shares of PepsiCo by 4.1% in the 4th quarter. Lenox Wealth Advisors LLC now owns 1,530 shares of the company’s stock worth $266,000 after purchasing an additional 60 shares during the period. Colton Groome Financial Advisors LLC raised its holdings in shares of PepsiCo by 1.4% in the 4th quarter. Colton Groome Financial Advisors LLC now owns 4,355 shares of the company’s stock worth $757,000 after purchasing an additional 60 shares during the period. Sugarloaf Wealth Management LLC raised its holdings in shares of PepsiCo by 3.5% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 1,755 shares of the company’s stock worth $305,000 after purchasing an additional 60 shares during the period. Finally, Donald L. Hagan LLC raised its holdings in shares of PepsiCo by 1.2% in the 4th quarter. Donald L. Hagan LLC now owns 5,118 shares of the company’s stock worth $889,000 after purchasing an additional 60 shares during the period. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Eugene Willemsen sold 4,560 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were 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 of the company’s stock, valued at $1,453,523.97. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP David Flavell sold 5,150 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was 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 in the company, valued at approximately $4,951,235.25. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

Shares of NASDAQ:PEP opened at $162.03 on Thursday. PepsiCo, Inc. has a 52-week low of $144.61 and a 52-week high of $177.62. The firm has a fifty day moving average of $166.98 and a 200 day moving average of $168.10. The firm has a market capitalization of $224.04 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 3.19 and a beta of 0.59. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.68 and a current ratio of 0.87.

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

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Friday, June 3rd will be paid a $1.15 dividend. The ex-dividend date is Thursday, June 2nd. This is an increase from PepsiCo’s previous quarterly dividend of $1.08. This represents a $4.60 annualized dividend and a yield of 2.84%. PepsiCo’s payout ratio is currently 62.93%.

A number of equities research analysts have issued reports on the stock. Credit Suisse Group boosted their target price on shares of PepsiCo from $163.00 to $168.00 in a report on Wednesday, April 27th. Guggenheim boosted their target price on shares of PepsiCo from $188.00 to $193.00 in a report on Wednesday, April 27th. Wells Fargo & Company lowered their target price on shares of PepsiCo from $175.00 to $172.00 and set an “equal weight” rating on the stock in a report on Tuesday. Citigroup boosted their price target on shares of PepsiCo from $194.00 to $198.00 in a research report on Wednesday, April 27th. Finally, UBS Group reduced their price target on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.13.

PepsiCo Company 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.

See Also

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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