Stableford Capital II LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 1.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,464 shares of the company’s stock after selling 106 shares during the period. Stableford Capital II LLC’s holdings in PepsiCo were worth $980,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. Vanguard Group Inc. boosted its stake in PepsiCo by 1.3% during the third 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. State Street Corp raised its holdings in shares of PepsiCo by 0.7% during the 3rd quarter. State Street Corp now owns 59,634,823 shares of the company’s stock worth $9,735,981,000 after acquiring an additional 423,426 shares in the last quarter. Charles Schwab Investment Management Inc. boosted 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 valued at $2,555,040,000 after acquiring an additional 1,427,405 shares during the last quarter. Legal & General Group Plc increased its position in PepsiCo by 3.6% in the second quarter. Legal & General Group Plc now owns 10,875,847 shares of the company’s stock worth $1,812,570,000 after purchasing an additional 374,472 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in PepsiCo by 8.1% during the third quarter. Nuveen Asset Management LLC now owns 10,848,950 shares of the company’s stock valued at $1,771,200,000 after purchasing an additional 816,417 shares in the last quarter. 70.76% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their target price on shares of PepsiCo from $198.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, February 10th. Wells Fargo & Company upped their price objective on PepsiCo from $187.00 to $190.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 8th. Deutsche Bank Aktiengesellschaft lifted their target price on PepsiCo from $181.00 to $186.00 and gave the stock a “hold” rating in a report on Tuesday, December 6th. Citigroup began coverage on PepsiCo in a report on Thursday, February 16th. They set a “neutral” rating and a $180.00 price target on the stock. Finally, Barclays cut their price objective on shares of PepsiCo from $197.00 to $187.00 and set an “overweight” rating on the stock in a research report on Monday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Moderate Buy” and an average target price of $184.08.
PepsiCo Price Performance
PepsiCo (NASDAQ:PEP – Get Rating) last released its quarterly earnings data on Thursday, February 9th. The company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.64 by $0.03. PepsiCo had a return on equity of 51.34% and a net margin of 10.31%. The company had revenue of $28 billion for the quarter, compared to the consensus estimate of $26.82 billion. During the same period last year, the business posted $1.53 EPS. PepsiCo’s quarterly revenue was up 10.9% on a year-over-year basis. On average, research analysts forecast that PepsiCo, Inc. will post 7.23 earnings per share for the current year.
PepsiCo Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 3rd will be issued a dividend of $1.15 per share. The ex-dividend date is Thursday, March 2nd. This represents a $4.60 dividend on an annualized basis and a yield of 2.63%. PepsiCo’s dividend payout ratio is currently 71.76%.
Insider Buying and Selling at PepsiCo
In other PepsiCo news, CEO Ramkumar Krishnan sold 16,827 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 49,000 shares in the company, valued at $8,462,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 transaction, the director now directly owns 183,929 shares of the company’s stock, valued at approximately $31,722,234.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ramkumar Krishnan sold 16,827 shares of the firm’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $172.70, for a total value of $2,906,022.90. Following the completion of the sale, the chief executive officer now directly owns 49,000 shares of the company’s stock, valued at approximately $8,462,300. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.
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).
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