Alliance Wealth Advisors LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 5.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,842 shares of the company’s stock after selling 253 shares during the period. Alliance Wealth Advisors LLC’s holdings in PepsiCo were worth $810,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of PEP. RDA Financial Network raised its holdings in PepsiCo by 1.7% during the first quarter. RDA Financial Network now owns 4,450 shares of the company’s stock worth $745,000 after acquiring an additional 76 shares in the last quarter. Wedge Capital Management L L P NC raised its holdings in PepsiCo by 3.9% during the first quarter. Wedge Capital Management L L P NC now owns 2,585 shares of the company’s stock worth $433,000 after acquiring an additional 98 shares in the last quarter. Marietta Wealth Management LLC raised its holdings in PepsiCo by 0.6% during the first quarter. Marietta Wealth Management LLC now owns 37,768 shares of the company’s stock worth $6,322,000 after acquiring an additional 216 shares in the last quarter. LifeSteps Financial Inc. increased its position in PepsiCo by 18.7% during the first quarter. LifeSteps Financial Inc. now owns 2,409 shares of the company’s stock worth $403,000 after buying an additional 379 shares during the last quarter. Finally, First American Trust FSB increased its position in PepsiCo by 9.0% during the first quarter. First American Trust FSB now owns 4,817 shares of the company’s stock worth $806,000 after buying an additional 398 shares during the last quarter. Institutional investors own 72.12% of the company’s stock.
A number of equities analysts have weighed in on the company. Guggenheim boosted their price target on PepsiCo from $188.00 to $193.00 in a research report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft boosted their price target on PepsiCo from $173.00 to $175.00 in a research report on Wednesday, April 27th. Credit Suisse Group boosted their price target on PepsiCo from $163.00 to $168.00 in a research report on Wednesday, April 27th. JPMorgan Chase & Co. upped their target price on PepsiCo from $183.00 to $186.00 in a research report on Wednesday, April 27th. Finally, Wells Fargo & Company decreased their target price on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $177.13.
PepsiCo (NASDAQ:PEP – Get Rating) last released its earnings results on Tuesday, April 26th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.05. PepsiCo had a return on equity of 53.44% and a net margin of 12.57%. The firm had revenue of $16.20 billion during the quarter, compared to analysts’ expectations of $15.54 billion. During the same period in the prior year, the company earned $1.21 earnings per share. The company’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts expect that PepsiCo, Inc. will post 6.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Friday, June 3rd will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, June 2nd. This is a boost from PepsiCo’s previous quarterly dividend of $1.08. This represents a $4.60 annualized dividend and a yield of 2.84%. PepsiCo’s dividend payout ratio is presently 62.93%.
In other news, EVP David Flavell sold 5,150 shares of the stock in a transaction on Monday, May 16th. The stock was sold at an average price of $175.11, for a total value of $901,816.50. Following the completion of the transaction, the executive vice president now directly owns 28,275 shares in the company, valued at approximately $4,951,235.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Eugene Willemsen sold 4,560 shares of the stock in a transaction on Monday, May 16th. The shares were sold at an average price of $175.61, for a total value of $800,781.60. Following the completion of the transaction, the chief executive officer now owns 8,277 shares of the company’s stock, valued at $1,453,523.97. The disclosure for this sale can be found here. 0.12% of the stock is owned by corporate insiders.
About PepsiCo (Get Rating)
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.
- Get a free copy of the StockNews.com research report on PepsiCo (PEP)
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