LifeSteps Financial Inc. lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 12.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,704 shares of the company’s stock after acquiring an additional 295 shares during the quarter. LifeSteps Financial Inc.’s holdings in PepsiCo were worth $451,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of PepsiCo during the 4th quarter valued at $2,180,925,000. BlackRock Inc. raised its holdings in PepsiCo by 5.5% in the 4th quarter. BlackRock Inc. now owns 105,501,759 shares of the company’s stock worth $18,326,710,000 after acquiring an additional 5,454,097 shares during the period. Royal Bank of Canada raised its holdings in PepsiCo by 56.6% in the 1st quarter. Royal Bank of Canada now owns 14,810,738 shares of the company’s stock worth $2,479,022,000 after acquiring an additional 5,352,721 shares during the period. Vanguard Group Inc. increased its holdings in shares of PepsiCo by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 124,592,570 shares of the company’s stock worth $20,854,304,000 after purchasing an additional 1,991,968 shares during the period. Finally, Sanders Capital LLC increased its holdings in shares of PepsiCo by 34.3% during the 4th quarter. Sanders Capital LLC now owns 6,691,540 shares of the company’s stock worth $1,285,136,000 after purchasing an additional 1,708,005 shares during the period. Institutional investors and hedge funds own 71.38% of the company’s stock.
Wall Street Analyst Weigh In
PEP has been the topic of several recent research reports. UBS Group decreased their target price 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. Barclays reduced their price target on shares of PepsiCo from $187.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. Wells Fargo & Company reduced their target price on shares of PepsiCo from $175.00 to $172.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 21st. Credit Suisse Group boosted their price target on shares of PepsiCo from $168.00 to $170.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 13th. Finally, JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 6th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $182.00.
PepsiCo Trading Up 0.1 %
PepsiCo (NASDAQ:PEP – Get Rating) last posted its earnings results on Tuesday, July 12th. The company reported $1.86 EPS for the quarter, topping the consensus estimate of $1.73 by $0.13. PepsiCo had a net margin of 11.28% and a return on equity of 52.01%. The business had revenue of $20.23 billion for the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the company earned $1.72 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts predict that PepsiCo, Inc. will post 6.66 earnings per share for the current fiscal year.
PepsiCo Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be given a dividend of $1.15 per share. The ex-dividend date is Thursday, September 1st. This represents a $4.60 annualized dividend and a yield of 2.73%. PepsiCo’s dividend payout ratio is presently 69.28%.
Insider Buying and Selling
In related news, CEO Ramkumar Krishnan sold 3,433 shares of PepsiCo 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 sale, the chief executive officer now directly owns 50,577 shares in the company, valued at approximately $8,842,376.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Ramkumar Krishnan sold 3,433 shares of the business’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 value of $600,191.39. Following the transaction, the chief executive officer now owns 50,577 shares in the company, valued at approximately $8,842,376.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven C. Williams sold 1,753 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $12,135,292.56. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.
PepsiCo Company Profile
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.
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