Choate Investment Advisors Boosts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Choate Investment Advisors grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,929 shares of the company’s stock after acquiring an additional 751 shares during the quarter. PepsiCo comprises 0.7% of Choate Investment Advisors’ holdings, making the stock its 19th largest position. Choate Investment Advisors’ holdings in PepsiCo were worth $25,189,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Strategy Asset Managers LLC raised its stake in shares of PepsiCo by 0.9% during the first quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock valued at $1,161,000 after purchasing an additional 57 shares during the period. Amplius Wealth Advisors LLC lifted its holdings in PepsiCo by 2.8% in the 4th quarter. Amplius Wealth Advisors LLC now owns 2,241 shares of the company’s stock worth $381,000 after buying an additional 60 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its position in PepsiCo by 2.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,420 shares of the company’s stock valued at $411,000 after buying an additional 61 shares during the last quarter. SYM FINANCIAL Corp grew its stake in shares of PepsiCo by 2.7% during the fourth quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock valued at $389,000 after acquiring an additional 61 shares in the last quarter. Finally, Clearwater Capital Advisors LLC increased its position in shares of PepsiCo by 2.3% during the fourth quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock worth $468,000 after acquiring an additional 61 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PEP. Jefferies Financial Group dropped their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. BNP Paribas assumed coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective on the stock. TD Cowen decreased their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a report on Tuesday, April 23rd. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $185.27.

PepsiCo Stock Down 1.5 %

PEP stock traded down $2.52 during midday trading on Monday, reaching $163.86. The company had a trading volume of 4,551,517 shares, compared to its average volume of 5,524,998. The company has a 50 day moving average of $170.93 and a two-hundred day moving average of $169.99. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $192.38. The company has a market capitalization of $225.07 billion, a P/E ratio of 23.97, a PEG ratio of 2.89 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.86%. The firm had revenue of $22.50 billion during the quarter, compared to analysts’ expectations of $22.59 billion. During the same period in the previous year, the company earned $2.09 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.31%. The ex-dividend date was Friday, June 7th. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Insider Transactions at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.

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.