Price T Rowe Associates Inc. MD Sells 1,707,413 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Price T Rowe Associates Inc. MD lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 14.3% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,269,040 shares of the company’s stock after selling 1,707,413 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.73% of PepsiCo worth $1,346,579,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PEP. Gantzert Investment Co. LLC ADV bought a new stake in shares of PepsiCo during the fourth quarter worth $2,231,000. Buckingham Capital Management Inc. grew its stake in shares of PepsiCo by 8.4% in the fourth quarter. Buckingham Capital Management Inc. now owns 35,608 shares of the company’s stock worth $3,934,000 after purchasing an additional 2,755 shares during the last quarter. Portfolio Solutions LLC bought a new stake in shares of PepsiCo in the fourth quarter worth $111,000. Proficio Capital Partners LLC grew its stake in shares of PepsiCo by 13.2% in the fourth quarter. Proficio Capital Partners LLC now owns 1,460 shares of the company’s stock worth $161,000 after purchasing an additional 170 shares during the last quarter. Finally, OLD Dominion Capital Management Inc. grew its stake in shares of PepsiCo by 1.0% in the fourth quarter. OLD Dominion Capital Management Inc. now owns 21,352 shares of the company’s stock worth $2,359,000 after purchasing an additional 214 shares during the last quarter. 71.46% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Kirk Tanner sold 9,573 shares of the company’s 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 transaction, the chief executive officer now owns 105,350 shares in the company, valued at $13,500,602.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven C. Williams sold 2,420 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $133.95, for a total transaction of $324,159.00. Following the transaction, the chief executive officer now owns 54,920 shares in the company, valued at approximately $7,356,534. The disclosure for this sale can be found here. 0.28% of the stock is owned by insiders.



PEP has been the topic of several analyst reports. Deutsche Bank boosted their price objective on shares of PepsiCo from $141.00 to $142.00 and gave the stock a “hold” rating in a research note on Tuesday. Credit Suisse Group boosted their price objective on shares of PepsiCo from $110.00 to $117.00 and gave the stock an “underperform” rating in a research note on Friday, September 6th. Atlantic Securities initiated coverage on shares of PepsiCo in a research note on Monday, July 29th. They issued an “overweight” rating and a $145.00 price objective on the stock. Cowen boosted their price objective on shares of PepsiCo from $142.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 10th. Finally, ValuEngine raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, August 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $131.79.

PEP stock traded down $0.13 during midday trading on Tuesday, hitting $135.31. The stock had a trading volume of 1,824,931 shares, compared to its average volume of 3,840,600. The firm has a market cap of $188.35 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 3.50 and a beta of 0.56. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 1.97. PepsiCo, Inc. has a 1-year low of $104.53 and a 1-year high of $139.18. The business has a fifty day moving average price of $133.28 and a two-hundred day moving average price of $128.84.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.05. The business had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.44 billion. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. PepsiCo’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.61 earnings per share. On average, equities analysts anticipate that PepsiCo, Inc. will post 5.51 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $0.955 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 annualized dividend and a yield of 2.82%. PepsiCo’s payout ratio is 67.49%.

PepsiCo 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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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