Nvest Financial LLC increased its position in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,470 shares of the company’s stock after purchasing an additional 126 shares during the period. PepsiCo makes up 2.7% of Nvest Financial LLC’s investment portfolio, making the stock its 12th largest holding. Nvest Financial LLC’s holdings in PepsiCo were worth $2,578,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Cordant Inc. bought a new position in shares of PepsiCo in the first quarter valued at approximately $27,000. Strategic Asset Management LLC raised its position in PepsiCo by 53.3% in the 1st quarter. Strategic Asset Management LLC now owns 276 shares of the company’s stock valued at $46,000 after buying an additional 96 shares during the last quarter. Landmark Wealth Management LLC purchased a new position in PepsiCo during the 1st quarter worth $29,000. Retirement Group LLC grew its stake in shares of PepsiCo by 100.0% in the 1st quarter. Retirement Group LLC now owns 322 shares of the company’s stock worth $54,000 after acquiring an additional 161 shares in the last quarter. Finally, Lansing Street Advisors purchased a new stake in shares of PepsiCo in the first quarter valued at about $58,000. Institutional investors and hedge funds own 71.38% of the company’s stock.
Insider Buying and Selling at PepsiCo
In other news, CEO Steven C. Williams sold 1,753 shares of the company’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $171.18, for a total value of $300,078.54. Following the transaction, the chief executive officer now owns 70,892 shares of the company’s stock, valued at $12,135,292.56. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CEO Steven C. Williams sold 1,753 shares of the business’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $171.18, for a total transaction 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 $12,135,292.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ramkumar Krishnan sold 3,433 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $174.83, for a total transaction of $600,191.39. Following the completion of the sale, the chief executive officer now directly owns 50,577 shares in the company, valued at $8,842,376.91. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.
PepsiCo Trading Up 0.1 %
PepsiCo (NASDAQ:PEP – Get Rating) last issued its quarterly earnings data on Tuesday, July 12th. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.13. The business had revenue of $20.23 billion for 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%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 EPS. As a group, analysts expect that PepsiCo, Inc. will post 6.66 EPS for the current year.
PepsiCo Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 2.73%. The ex-dividend date is Thursday, September 1st. PepsiCo’s dividend payout ratio is presently 69.28%.
Analyst Upgrades and Downgrades
PEP has been the subject of a number of recent analyst reports. Credit Suisse Group upped their price objective on shares of PepsiCo from $168.00 to $170.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 13th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $186.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. Deutsche Bank Aktiengesellschaft increased their price target on shares of PepsiCo from $175.00 to $178.00 and gave the company a “hold” rating in a research report on Thursday, July 7th. UBS Group lowered their price objective on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Tuesday, June 21st. Finally, Barclays decreased their price target on shares of PepsiCo from $187.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, July 6th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.
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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