WFA of San Diego LLC acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 1,015 shares of the company’s stock, valued at approximately $188,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PEP. King Luther Capital Management Corp grew its stake in shares of PepsiCo by 1.9% in the second quarter. King Luther Capital Management Corp now owns 1,622,784 shares of the company’s stock worth $300,572,000 after acquiring an additional 30,199 shares during the last quarter. Profund Advisors LLC increased its holdings in shares of PepsiCo by 5.3% during the 2nd quarter. Profund Advisors LLC now owns 78,475 shares of the company’s stock worth $14,535,000 after purchasing an additional 3,979 shares during the period. Triton Wealth Management PLLC raised its position in shares of PepsiCo by 0.7% during the second quarter. Triton Wealth Management PLLC now owns 9,426 shares of the company’s stock valued at $1,781,000 after buying an additional 68 shares during the last quarter. Angeles Wealth Management LLC lifted its stake in shares of PepsiCo by 1.9% in the second quarter. Angeles Wealth Management LLC now owns 10,784 shares of the company’s stock valued at $1,997,000 after buying an additional 206 shares during the period. Finally, Edgestream Partners L.P. grew its position in PepsiCo by 2.6% during the second quarter. Edgestream Partners L.P. now owns 3,051 shares of the company’s stock worth $565,000 after buying an additional 76 shares in the last quarter. 71.40% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other PepsiCo news, CFO Hugh F. Johnston sold 48,388 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $166.65, for a total transaction of $8,063,860.20. Following the sale, the chief financial officer now directly owns 96,627 shares in the company, valued at approximately $16,102,889.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.15% of the company’s stock.
PepsiCo Trading Down 0.5 %
PepsiCo (NASDAQ:PEP – Get Free Report) last posted its quarterly earnings results on Tuesday, October 10th. The company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.15 by $0.10. PepsiCo had a net margin of 9.05% and a return on equity of 58.28%. The business had revenue of $23.45 billion during the quarter, compared to the consensus estimate of $23.41 billion. During the same period in the previous year, the firm posted $1.97 earnings per share. PepsiCo’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, research analysts expect that PepsiCo, Inc. will post 7.55 EPS for the current fiscal year.
PepsiCo Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be given a $1.265 dividend. The ex-dividend date is Thursday, November 30th. This represents a $5.06 dividend on an annualized basis and a dividend yield of 3.05%. PepsiCo’s dividend payout ratio is 84.33%.
Wall Street Analyst Weigh In
A number of analysts have commented on the company. Evercore ISI reduced their price objective on PepsiCo from $195.00 to $185.00 in a research report on Tuesday, October 3rd. Argus reduced their target price on PepsiCo from $212.00 to $186.00 in a research report on Wednesday, October 11th. Morgan Stanley lowered their price target on shares of PepsiCo from $210.00 to $190.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $180.00 price objective on shares of PepsiCo in a report on Wednesday, October 11th. Finally, Wedbush lowered their target price on shares of PepsiCo from $206.00 to $195.00 and set an “outperform” rating on the stock in a research note on Monday, October 9th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $187.57.
PepsiCo, Inc manufactures, markets, distributes, and sells 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.
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