Marietta Wealth Management LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 0.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,768 shares of the company’s stock after purchasing an additional 216 shares during the period. PepsiCo accounts for 1.3% of Marietta Wealth Management LLC’s portfolio, making the stock its 27th biggest position. Marietta Wealth Management LLC’s holdings in PepsiCo were worth $6,322,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of PEP. EagleClaw Capital Managment LLC grew its stake 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 period. Verition Fund Management LLC purchased a new stake in PepsiCo in the third quarter worth $343,000. Summit Trail Advisors LLC grew its stake in PepsiCo by 9.3% in the third quarter. Summit Trail Advisors LLC now owns 3,343 shares of the company’s stock worth $503,000 after purchasing an additional 285 shares during the period. Capstone Triton Financial Group LLC grew its stake in PepsiCo by 22.1% in the third quarter. Capstone Triton Financial Group LLC now owns 3,407 shares of the company’s stock worth $542,000 after purchasing an additional 617 shares during the period. Finally, Studio Investment Management LLC purchased a new stake in shares of PepsiCo in the third quarter worth $2,604,000. 72.12% of the stock is currently owned by institutional investors.
PEP has been the topic of a number of recent research reports. Guggenheim increased their target price on PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 27th. JPMorgan Chase & Co. increased their target price on PepsiCo from $183.00 to $186.00 in a research note on Wednesday, April 27th. Citigroup increased their target price on PepsiCo from $194.00 to $198.00 in a research note on Wednesday, April 27th. StockNews.com started coverage on PepsiCo in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating on the stock in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $177.13.
PepsiCo (NASDAQ:PEP – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.24 by $0.05. PepsiCo had a return on equity of 53.44% and a net margin of 12.57%. The firm 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 company earned $1.21 earnings per share. The business’s revenue for the quarter was up 9.3% compared to the same quarter last year. Equities analysts predict that PepsiCo, Inc. will post 6.64 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Friday, June 3rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Thursday, June 2nd. This represents a $4.60 annualized dividend and a dividend yield of 2.84%. This is an increase from PepsiCo’s previous quarterly dividend of $1.08. PepsiCo’s dividend payout ratio (DPR) is 62.93%.
In other PepsiCo news, CEO Eugene Willemsen sold 4,560 shares of the firm’s stock in a transaction that occurred 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 owns 8,277 shares in the company, valued at approximately $1,453,523.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Flavell sold 5,150 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $175.11, for a total value of $901,816.50. Following the transaction, the executive vice president now owns 28,275 shares of the company’s stock, valued at approximately $4,951,235.25. The disclosure for this sale can be found here. Company insiders own 0.12% of the company’s stock.
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.
- Get a free copy of the StockNews.com research report on PepsiCo (PEP)
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