1,507 Shares in PepsiCo, Inc. (NASDAQ:PEP) Purchased by Pineridge Advisors LLC

Pineridge Advisors LLC purchased a new position in PepsiCo, Inc. (NASDAQ:PEP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,507 shares of the company’s stock, valued at approximately $256,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its holdings in shares of PepsiCo by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock worth $3,227,287,000 after purchasing an additional 578,083 shares during the period. Northern Trust Corp boosted its holdings in PepsiCo by 3.7% in the 3rd quarter. Northern Trust Corp now owns 16,878,022 shares of the company’s stock worth $2,859,812,000 after acquiring an additional 595,357 shares during the period. Norges Bank purchased a new position in PepsiCo in the 4th quarter worth approximately $2,686,139,000. California Public Employees Retirement System boosted its holdings in PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after acquiring an additional 1,470,064 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in PepsiCo by 17.7% in the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after acquiring an additional 1,345,065 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a report on Monday, March 18th. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Jefferies Financial Group upped their target price on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. upped their target price on PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a research report on Tuesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and an average price target of $187.17.

PepsiCo Stock Up 0.3 %

Shares of PEP stock traded up $0.48 on Friday, reaching $163.81. 3,603,340 shares of the company’s stock traded hands, compared to its average volume of 4,978,118. The company has a market capitalization of $225.20 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 2.66 and a beta of 0.52. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The business’s 50 day moving average price is $173.96 and its two-hundred day moving average price is $170.38. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $192.38.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.09. The firm had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $1.355 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.31%. The ex-dividend date is Friday, June 7th. PepsiCo’s dividend payout ratio is currently 81.50%.

Insider Buying and Selling

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.15% of the stock is owned by 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.