Financial Advisors LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 10.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,448 shares of the company’s stock after selling 296 shares during the period. Financial Advisors LLC’s holdings in PepsiCo were worth $321,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of PEP. Oregon Public Employees Retirement Fund boosted its holdings in shares of PepsiCo by 10,622.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock worth $314,000 after buying an additional 34,380,553 shares during the period. BlackRock Inc. boosted its holdings in shares of PepsiCo by 2.4% during the 4th quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock worth $10,727,836,000 after buying an additional 2,275,511 shares during the period. Thoroughbred Financial Services LLC boosted its holdings in shares of PepsiCo by 13,410.8% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,806,262 shares of the company’s stock worth $180,626,000 after buying an additional 1,792,893 shares during the period. California Public Employees Retirement System boosted its holdings in shares of PepsiCo by 34.2% during the 4th quarter. California Public Employees Retirement System now owns 6,285,045 shares of the company’s stock worth $694,372,000 after buying an additional 1,600,360 shares during the period. Finally, Railway Pension Investments Ltd bought a new stake in shares of PepsiCo during the 2nd quarter worth $16,182,000. 71.26% of the stock is owned by institutional investors.
Several analysts recently issued reports on the stock. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a report on Tuesday, April 23rd. UBS Group upped their price objective on shares of PepsiCo from $130.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. Wells Fargo & Co increased their price target on shares of PepsiCo from $120.00 to $127.00 and gave the company a “positive” rating in a report on Tuesday, May 14th. Finally, Bank of America increased their price target on shares of PepsiCo from $135.00 to $142.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $129.35.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The company had revenue of $16.45 billion during the quarter, compared to analysts’ expectations of $16.44 billion. During the same quarter in the prior year, the company posted $1.61 EPS. The business’s revenue was up 2.2% on a year-over-year basis. On average, research analysts forecast that PepsiCo, Inc. will post 5.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend is Thursday, September 5th. PepsiCo’s dividend payout ratio is 67.49%.
In related news, CEO Kirk Tanner sold 9,573 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the sale, the chief executive officer now owns 105,350 shares in the company, valued at approximately $13,500,602.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven C. Williams sold 2,420 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $133.95, for a total transaction of $324,159.00. Following the sale, the chief executive officer now owns 54,920 shares of the company’s stock, valued at approximately $7,356,534. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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