First Trust Direct Indexing L.P. Acquires 1,381 Shares of PepsiCo, Inc. (NASDAQ:PEP)

First Trust Direct Indexing L.P. increased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,340 shares of the company’s stock after purchasing an additional 1,381 shares during the period. PepsiCo makes up about 0.6% of First Trust Direct Indexing L.P.’s investment portfolio, making the stock its 22nd largest position. First Trust Direct Indexing L.P.’s holdings in PepsiCo were worth $7,585,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its stake in PepsiCo by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock worth $3,227,287,000 after buying an additional 578,083 shares during the period. Norges Bank purchased a new stake in shares of PepsiCo during the fourth quarter valued at $2,686,139,000. California Public Employees Retirement System boosted its stake in shares of PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after purchasing an additional 1,470,064 shares during the period. Franklin Resources Inc. boosted its stake in shares of PepsiCo by 17.7% during the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after purchasing an additional 1,345,065 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of PepsiCo by 15.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock valued at $1,430,250,000 after purchasing an additional 1,105,127 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

PEP has been the subject of several recent research reports. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a report on Monday, March 18th. Jefferies Financial Group lifted their price objective on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. TD Cowen decreased their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday. Finally, BNP Paribas began coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and an average target price of $186.64.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total value of $1,000,360.00. Following the sale, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is owned by insiders.

PepsiCo Stock Down 0.6 %

Shares of PEP traded down $0.98 during mid-day trading on Thursday, hitting $162.60. 2,879,575 shares of the company traded hands, compared to its average volume of 5,397,682. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $192.38. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $223.54 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.69 and a beta of 0.52. The business has a 50 day moving average of $172.95 and a 200 day moving average of $170.24.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. During the same quarter in the prior year, the company posted $1.50 earnings per share. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were given a $1.355 dividend. The ex-dividend date was Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.33%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is currently 81.50%.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of 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.