Kelman Lazarov Inc. decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,444 shares of the company’s stock after selling 145 shares during the period. Kelman Lazarov Inc.’s holdings in PepsiCo were worth $362,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in PEP. OLD Mission Capital LLC bought a new position in PepsiCo during the third quarter valued at about $256,000. Atlas Private Wealth Management grew its position in PepsiCo by 21.1% during the first quarter. Atlas Private Wealth Management now owns 3,437 shares of the company’s stock valued at $486,000 after buying an additional 600 shares during the period. Ironwood Wealth Management LLC. grew its position in PepsiCo by 38.4% during the first quarter. Ironwood Wealth Management LLC. now owns 1,892 shares of the company’s stock valued at $268,000 after buying an additional 525 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in PepsiCo by 9.1% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 540,546 shares of the company’s stock valued at $76,460,000 after buying an additional 45,311 shares during the period. Finally, Bank of Nova Scotia Trust Co. grew its position in PepsiCo by 33.4% during the first quarter. Bank of Nova Scotia Trust Co. now owns 4,949 shares of the company’s stock valued at $700,000 after buying an additional 1,240 shares during the period. Institutional investors own 70.55% of the company’s stock.
In other news, SVP Marie T. Gallagher sold 7,409 shares of PepsiCo stock in a transaction dated Monday, July 19th. The stock was sold at an average price of $155.70, for a total value of $1,153,581.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by insiders.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Monday, July 12th. The company reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.53 by $0.19. PepsiCo had a net margin of 11.01% and a return on equity of 59.56%. The firm had revenue of $19.22 billion for the quarter, compared to analysts’ expectations of $17.95 billion. During the same quarter in the previous year, the business posted $1.32 EPS. The company’s quarterly revenue was up 20.5% on a year-over-year basis. Analysts anticipate 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. Stockholders of record on Friday, September 3rd will be given a $1.075 dividend. This represents a $4.30 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, September 2nd. PepsiCo’s dividend payout ratio is presently 77.90%.
A number of brokerages have weighed in on PEP. Royal Bank of Canada increased their target price on shares of PepsiCo from $153.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 14th. Zacks Investment Research lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 target price for the company. in a research report on Monday, August 9th. Morgan Stanley increased their target price on shares of PepsiCo from $165.00 to $172.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 14th. Cowen reiterated a “buy” rating and set a $165.00 target price on shares of PepsiCo in a research report on Friday, July 9th. Finally, Wells Fargo & Company raised their price objective on shares of PepsiCo from $147.00 to $160.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 14th. One 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 stock. According to MarketBeat.com, PepsiCo has an average rating of “Hold” and a consensus target price of $159.58.
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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