Argent Trust Co Boosts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Argent Trust Co grew its stake in shares of 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 104,687 shares of the company’s stock after acquiring an additional 531 shares during the period. PepsiCo accounts for approximately 1.0% of Argent Trust Co’s portfolio, making the stock its 23rd largest holding. Argent Trust Co’s holdings in PepsiCo were worth $14,808,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Tandem Capital Management Corp ADV increased its holdings in shares of PepsiCo by 1.1% in the first quarter. Tandem Capital Management Corp ADV now owns 13,040 shares of the company’s stock worth $1,845,000 after purchasing an additional 148 shares during the period. Security National Bank of Sioux City Iowa IA increased its holdings in shares of PepsiCo by 2.0% in the first quarter. Security National Bank of Sioux City Iowa IA now owns 11,945 shares of the company’s stock worth $1,690,000 after purchasing an additional 239 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of PepsiCo in the first quarter worth $443,000. Lindsell Train Ltd increased its holdings in shares of PepsiCo by 13.0% in the first quarter. Lindsell Train Ltd now owns 5,793,310 shares of the company’s stock worth $819,464,000 after purchasing an additional 664,286 shares during the period. Finally, Quilter Plc increased its holdings in shares of PepsiCo by 4.8% in the first quarter. Quilter Plc now owns 81,161 shares of the company’s stock worth $11,480,000 after purchasing an additional 3,687 shares during the period. Hedge funds and other institutional investors own 70.64% of the company’s stock.

In other PepsiCo news, CEO Silviu Popovici sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $145.40, for a total value of $2,908,000.00. Following the completion of the sale, the chief executive officer now directly owns 75,886 shares in the company, valued at $11,033,824.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

A number of research firms recently commented on PEP. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 target price on the stock in a research note on Friday, February 12th. Deutsche Bank Aktiengesellschaft increased their target price on PepsiCo from $145.00 to $147.00 and gave the company a “hold” rating in a research note on Friday, April 16th. Guggenheim reissued a “buy” rating on shares of PepsiCo in a research note on Thursday, April 1st. Credit Suisse Group increased their target price on PepsiCo from $144.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, April 16th. Finally, UBS Group raised PepsiCo from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $165.00 in a research note on Wednesday, April 21st. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. PepsiCo has a consensus rating of “Hold” and a consensus price target of $149.23.

Shares of PepsiCo stock traded down $0.44 during trading on Friday, reaching $147.16. 157,091 shares of the stock were exchanged, compared to its average volume of 5,470,242. The company has a current ratio of 0.93, a quick ratio of 0.73 and a debt-to-equity ratio of 2.77. The stock’s fifty day moving average is $145.38. The firm has a market cap of $203.32 billion, a price-to-earnings ratio of 27.33, a price-to-earnings-growth ratio of 3.06 and a beta of 0.60. PepsiCo, Inc. has a 1 year low of $126.53 and a 1 year high of $148.85.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Wednesday, April 14th. The company reported $1.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.12 by $0.09. PepsiCo had a net margin of 10.51% and a return on equity of 58.55%. The company had revenue of $14.82 billion during the quarter, compared to analyst estimates of $14.54 billion. During the same period in the prior year, the business posted $1.07 earnings per share. PepsiCo’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts predict that PepsiCo, Inc. will post 6.05 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Friday, June 4th will be issued a $1.075 dividend. The ex-dividend date is Thursday, June 3rd. This is a positive change from PepsiCo’s previous quarterly dividend of $1.02. This represents a $4.30 annualized dividend and a yield of 2.92%. PepsiCo’s dividend payout ratio (DPR) is 77.90%.

PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company 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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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