BerganKDV Wealth Management LLC Reduces Stake in PepsiCo, Inc. (NASDAQ:PEP)

BerganKDV Wealth Management LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 22.8% in the 2nd quarter, HoldingsChannel reports. 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cordant Inc. purchased a new position in shares of PepsiCo during the first quarter valued at approximately $27,000. Landmark Wealth Management LLC purchased a new position in shares of PepsiCo during the first quarter valued at approximately $29,000. Strategic Asset Management LLC boosted its position in shares of PepsiCo by 53.3% during the first 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 period. Retirement Group LLC boosted its position in shares of PepsiCo by 100.0% during the first quarter. Retirement Group LLC now owns 322 shares of the company’s stock valued at $54,000 after buying an additional 161 shares during the period. Finally, Lansing Street Advisors purchased a new stake in shares of PepsiCo in the first quarter valued at approximately $58,000. Hedge funds and other institutional investors own 71.38% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $168.60 on Friday. The business’s fifty day simple moving average is $173.32 and its 200-day simple moving average is $170.45. The company has a market cap of $232.65 billion, a PE ratio of 25.39, a PEG ratio of 3.30 and a beta of 0.55. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.78. PepsiCo, Inc. has a 12-month low of $149.48 and a 12-month high of $181.07.

PepsiCo (NASDAQ:PEPGet Rating) last announced its quarterly earnings data on Tuesday, July 12th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.13. The firm had revenue of $20.23 billion for the quarter, compared to analyst estimates of $19.51 billion. PepsiCo had a net margin of 11.28% and a return on equity of 52.01%. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.72 earnings per share. Analysts expect that PepsiCo, Inc. will post 6.66 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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

Insider Activity

In other PepsiCo 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 sale, the chief executive officer now directly owns 70,892 shares of the company’s stock, valued at $12,135,292.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other PepsiCo 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 sale, the chief executive officer now directly owns 70,892 shares of the company’s stock, valued at $12,135,292.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Ramkumar Krishnan sold 3,433 shares of the company’s stock in a transaction 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. Corporate insiders own 0.12% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their price target on PepsiCo from $175.00 to $178.00 and gave the company a “hold” rating in a report on Thursday, July 7th. JPMorgan Chase & Co. lowered their price target on PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 6th. Barclays lowered their price target on PepsiCo from $187.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, July 6th. Wells Fargo & Company lowered their price target on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a report on Tuesday, June 21st. Finally, UBS Group reduced their price objective on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $182.00.

PepsiCo 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

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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