Ropes Wealth Advisors LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,095 shares of the company’s stock after selling 5,184 shares during the quarter. PepsiCo accounts for approximately 0.9% of Ropes Wealth Advisors LLC’s holdings, making the stock its 29th biggest holding. Ropes Wealth Advisors LLC’s holdings in PepsiCo were worth $4,966,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the business. Emerson Wealth Management LLC acquired a new position in shares of PepsiCo during the 1st quarter worth $28,000. Inspire Advisors LLC bought a new stake in PepsiCo in the 4th quarter valued at $31,000. Defined Wealth Management LLC bought a new stake in PepsiCo in the 4th quarter valued at $36,000. Mayar Capital Ltd. bought a new stake in PepsiCo in the 1st quarter valued at $42,000. Finally, Oder Investment Management LLC bought a new stake in PepsiCo in the 4th quarter valued at $45,000. Hedge funds and other institutional investors own 70.64% of the company’s stock.
In other PepsiCo news, CEO Silviu Popovici sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 7th. The shares were sold at an average price of $145.40, for a total value of $2,908,000.00. Following the completion of the sale, the chief executive officer now owns 75,886 shares in the company, valued at approximately $11,033,824.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.14% of the company’s stock.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Wednesday, April 14th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.09. The firm had revenue of $14.82 billion during the quarter, compared to analysts’ expectations of $14.54 billion. PepsiCo had a net margin of 10.51% and a return on equity of 58.55%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.07 EPS. On average, equities research analysts expect that PepsiCo, Inc. will post 6.05 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Shareholders of record on Friday, June 4th will be given a $1.075 dividend. This represents a $4.30 annualized dividend and a yield of 2.91%. The ex-dividend date is Thursday, June 3rd. This is a boost from PepsiCo’s previous quarterly dividend of $1.02. PepsiCo’s dividend payout ratio (DPR) is presently 77.90%.
PEP has been the subject of a number of analyst reports. Barclays raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $151.00 price objective for the company in a report on Monday, March 22nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of PepsiCo from $145.00 to $147.00 and gave the stock a “hold” rating in a report on Friday, April 16th. UBS Group raised shares of PepsiCo from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $145.00 to $165.00 in a report on Wednesday, April 21st. Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a report on Friday, February 12th. Finally, Credit Suisse Group raised their price objective on shares of PepsiCo from $144.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $149.23.
PepsiCo, Inc operates as a food and beverage company 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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