Utah Retirement Systems Sells 11,700 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Utah Retirement Systems reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 266,664 shares of the company’s stock after selling 11,700 shares during the period. Utah Retirement Systems’ holdings in PepsiCo were worth $37,720,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PEP. OLD Mission Capital LLC acquired a new stake in PepsiCo during the 3rd quarter worth about $256,000. Sage Mountain Advisors LLC acquired a new stake in shares of PepsiCo in the 4th quarter valued at about $227,000. Ironwood Wealth Management LLC. grew its stake in shares of PepsiCo by 8,443.8% in the 4th quarter. Ironwood Wealth Management LLC. now owns 1,367 shares of the company’s stock valued at $203,000 after buying an additional 1,351 shares during the period. Berman Capital Advisors LLC grew its stake in shares of PepsiCo by 5.7% in the 4th quarter. Berman Capital Advisors LLC now owns 3,719 shares of the company’s stock valued at $551,000 after buying an additional 201 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in shares of PepsiCo by 19,898.3% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,087,305 shares of the company’s stock valued at $161,247,000 after buying an additional 1,081,868 shares during the period. Hedge funds and other institutional investors own 70.14% of the company’s stock.

In related news, CEO Silviu Popovici sold 20,000 shares of PepsiCo stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 75,886 shares in the company, valued at approximately $11,033,824.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Marie T. Gallagher sold 7,409 shares of PepsiCo stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $155.70, for a total transaction of $1,153,581.30. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

Several analysts have recently commented on the company. Wells Fargo & Company raised their target price on PepsiCo from $147.00 to $160.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 14th. Royal Bank of Canada raised their target price on PepsiCo from $153.00 to $155.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 14th. Deutsche Bank Aktiengesellschaft raised their price target on shares of PepsiCo from $149.00 to $154.00 and gave the company a “hold” rating in a research report on Wednesday, July 14th. UBS Group raised shares of PepsiCo from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $165.00 in a research report on Wednesday, April 21st. Finally, Wolfe Research started coverage on shares of PepsiCo in a research report on Monday, April 12th. They issued a “peer perform” rating on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $157.75.

Shares of PepsiCo stock traded down $0.99 during mid-day trading on Thursday, hitting $154.25. 44,563 shares of the stock were exchanged, compared to its average volume of 4,648,094. PepsiCo, Inc. has a 12 month low of $128.32 and a 12 month high of $157.54. The firm’s 50-day moving average is $148.57. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 2.47. The stock has a market capitalization of $213.19 billion, a P/E ratio of 26.13, a P/E/G ratio of 2.97 and a beta of 0.60.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Monday, July 12th. The company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.19. The company had revenue of $19.22 billion for the quarter, compared to analysts’ expectations of $17.95 billion. PepsiCo had a net margin of 11.01% and a return on equity of 59.56%. PepsiCo’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.32 EPS. On average, research analysts predict that PepsiCo, Inc. will post 6.24 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Friday, September 3rd will be issued a $1.075 dividend. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $4.30 dividend on an annualized basis and a dividend yield of 2.79%. PepsiCo’s dividend payout ratio (DPR) is presently 77.90%.

PepsiCo Company Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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