J.P. Marvel Investment Advisors LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 3.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,871 shares of the company’s stock after selling 100 shares during the quarter. J.P. Marvel Investment Advisors LLC’s holdings in PepsiCo were worth $352,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Highwater Wealth Management LLC purchased a new position in PepsiCo during the 4th quarter worth $28,000. Horan Securities Inc. grew its stake in PepsiCo by 460.0% during the 4th quarter. Horan Securities Inc. now owns 280 shares of the company’s stock worth $30,000 after buying an additional 230 shares during the last quarter. 1 North Wealth Services LLC purchased a new position in PepsiCo during the 4th quarter worth $39,000. Financial Gravity Companies Inc. purchased a new position in PepsiCo during the 4th quarter worth $41,000. Finally, Thor Advisors LLC purchased a new position in PepsiCo during the 1st quarter worth $70,000. 70.84% of the stock is currently owned by institutional investors.
In other PepsiCo news, SVP Marie T. Gallagher sold 7,800 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $125.99, for a total transaction of $982,722.00. Following the completion of the transaction, the senior vice president now owns 55,665 shares of the company’s stock, valued at $7,013,233.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ramon Laguarta sold 15,431 shares of the stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $129.43, for a total value of $1,997,234.33. Following the transaction, the chairman now directly owns 232,394 shares of the company’s stock, valued at approximately $30,078,755.42. The disclosure for this sale can be found here. Insiders have sold 48,494 shares of company stock valued at $6,173,705 in the last three months. Insiders own 0.28% of the company’s stock.
PEP has been the topic of several research analyst reports. Goldman Sachs Group set a $132.00 price target on PepsiCo and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Royal Bank of Canada set a $115.00 target price on PepsiCo and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Zacks Investment Research downgraded PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Morgan Stanley upped their target price on PepsiCo from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 19th. Finally, SunTrust Banks upped their target price on PepsiCo to $120.00 and gave the stock a “hold” rating in a research note on Thursday, April 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. PepsiCo has an average rating of “Buy” and an average price target of $124.65.
NASDAQ PEP opened at $132.29 on Monday. The stock has a market capitalization of $186.06 billion, a P/E ratio of 23.37, a price-to-earnings-growth ratio of 3.45 and a beta of 0.61. PepsiCo, Inc. has a twelve month low of $104.53 and a twelve month high of $134.71. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 1.99.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, April 17th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. The company had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $12.68 billion. During the same quarter in the prior year, the firm posted $0.96 EPS. PepsiCo’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, equities research analysts expect that PepsiCo, Inc. will post 5.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a dividend of $0.955 per share. The ex-dividend date is Thursday, June 6th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.89%. This is a boost from PepsiCo’s previous quarterly dividend of $0.93. PepsiCo’s dividend payout ratio is presently 67.49%.
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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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