American International Group Inc. Sells 64,047 Shares of PepsiCo, Inc. (NASDAQ:PEP)

American International Group Inc. lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 11.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 497,499 shares of the company’s stock after selling 64,047 shares during the quarter. PepsiCo accounts for about 0.6% of American International Group Inc.’s portfolio, making the stock its 17th biggest position. American International Group Inc.’s holdings in PepsiCo were worth $89,878,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Cottage Street Advisors LLC raised its position in PepsiCo by 16,362.5% in the 4th quarter. Cottage Street Advisors LLC now owns 3,272,900 shares of the company’s stock valued at $361,000 after buying an additional 3,253,019 shares during the last quarter. Vanguard Group Inc. raised its position in PepsiCo by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 128,842,451 shares of the company’s stock valued at $21,034,819,000 after buying an additional 1,611,639 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in shares of PepsiCo by 423.2% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,791,643 shares of the company’s stock worth $292,504,000 after purchasing an additional 1,449,232 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PepsiCo by 10.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,264,902 shares of the company’s stock worth $2,555,040,000 after purchasing an additional 1,427,405 shares during the last quarter. Finally, Cowa LLC increased its position in shares of PepsiCo by 9,434.6% during the 1st quarter. Cowa LLC now owns 925,141 shares of the company’s stock worth $1,061,000 after purchasing an additional 915,438 shares during the last quarter. Institutional investors and hedge funds own 70.76% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on PEP shares. StockNews.com started coverage on PepsiCo in a research note on Thursday, May 18th. They set a “buy” rating for the company. Royal Bank of Canada lifted their target price on PepsiCo from $175.00 to $178.00 in a research note on Wednesday, April 26th. Wells Fargo & Company lifted their target price on PepsiCo from $187.00 to $196.00 in a research note on Wednesday, April 26th. Morgan Stanley lifted their target price on PepsiCo from $200.00 to $210.00 in a research note on Tuesday, April 25th. Finally, Credit Suisse Group boosted their price target on PepsiCo from $175.00 to $182.00 and gave the company a “neutral” rating in a research note on Friday, February 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $190.25.

PepsiCo Price Performance

PEP traded down $0.18 on Friday, reaching $183.62. The stock had a trading volume of 1,241,146 shares, compared to its average volume of 4,392,533. PepsiCo, Inc. has a fifty-two week low of $154.86 and a fifty-two week high of $196.88. The firm has a 50-day moving average of $187.60 and a 200-day moving average of $179.52. The company has a current ratio of 0.87, a quick ratio of 0.65 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $252.97 billion, a price-to-earnings ratio of 38.71, a price-to-earnings-growth ratio of 3.23 and a beta of 0.53.

PepsiCo (NASDAQ:PEP – Get Rating) last issued its earnings results on Tuesday, April 25th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.13. PepsiCo had a return on equity of 53.68% and a net margin of 7.48%. The business had revenue of $17.85 billion during the quarter, compared to analysts’ expectations of $17.27 billion. During the same quarter in the prior year, the firm earned $1.29 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 7.3 EPS for the current year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 2nd will be given a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date is Thursday, June 1st. This is a positive change from PepsiCo’s previous quarterly dividend of $1.15. PepsiCo’s payout ratio is 96.84%.

Insider Buying and Selling at PepsiCo

In related news, Director Robert C. Pohlad sold 75,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $172.47, for a total transaction of $12,935,250.00. Following the sale, the director now owns 183,929 shares in the company, valued at approximately $31,722,234.63. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert C. Pohlad sold 75,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $172.47, for a total transaction of $12,935,250.00. Following the sale, the director now owns 183,929 shares in the company, valued at approximately $31,722,234.63. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ramkumar Krishnan sold 16,827 shares of the company’s stock in a transaction dated Tuesday, March 7th. The shares were sold at an average price of $172.70, for a total value of $2,906,022.90. Following the sale, the chief executive officer now owns 49,000 shares in the company, valued at approximately $8,462,300. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

About PepsiCo

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PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of beverages, food, and snacks. It operates through the following business segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC).