Fisher Asset Management LLC Increases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Fisher Asset Management LLC increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 3.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 71,402 shares of the company’s stock after purchasing an additional 2,243 shares during the period. Fisher Asset Management LLC’s holdings in PepsiCo were worth $11,951,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Spectrum Management Group LLC grew its stake in PepsiCo by 2.3% during the 1st quarter. Spectrum Management Group LLC now owns 37,440 shares of the company’s stock valued at $6,266,000 after purchasing an additional 849 shares during the last quarter. Tower Bridge Advisors grew its stake in PepsiCo by 0.4% during the 1st quarter. Tower Bridge Advisors now owns 124,749 shares of the company’s stock valued at $20,880,000 after purchasing an additional 497 shares during the last quarter. National Bank of Canada FI grew its stake in PepsiCo by 83.1% during the 1st quarter. National Bank of Canada FI now owns 455,970 shares of the company’s stock valued at $79,709,000 after purchasing an additional 206,913 shares during the last quarter. Great Diamond Partners LLC grew its stake in PepsiCo by 2.8% during the 1st quarter. Great Diamond Partners LLC now owns 4,847 shares of the company’s stock valued at $811,000 after purchasing an additional 131 shares during the last quarter. Finally, James Hambro & Partners boosted its stake in shares of PepsiCo by 8.0% in the first quarter. James Hambro & Partners now owns 2,170 shares of the company’s stock worth $364,000 after buying an additional 160 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Eugene Willemsen sold 4,560 shares of the stock in a transaction that occurred on Monday, May 16th. The stock was 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 directly owns 8,277 shares in the company, valued at $1,453,523.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Eugene Willemsen sold 4,560 shares of the firm’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $175.61, for a total transaction of $800,781.60. Following the completion of the transaction, the chief executive officer now directly owns 8,277 shares in the company, valued at $1,453,523.97. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Steven C. Williams sold 1,753 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $171.18, for a total value of $300,078.54. Following the transaction, the chief executive officer now owns 70,892 shares of the company’s stock, valued at $12,135,292.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 14,896 shares of company stock worth $2,602,868. Company insiders own 0.12% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on PEP shares. Citigroup upped their target price on PepsiCo from $194.00 to $198.00 in a research note on Wednesday, April 27th. UBS Group reduced their price target on PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. Credit Suisse Group upped their price target on PepsiCo from $168.00 to $170.00 and gave the stock a “neutral” rating in a report on Wednesday, July 13th. JPMorgan Chase & Co. reduced their target price on PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, July 6th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on PepsiCo from $175.00 to $178.00 and gave the company a “hold” rating in a report on Thursday, July 7th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

PepsiCo Price Performance

PEP stock opened at $176.95 on Tuesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.83 and a quick ratio of 0.64. The business has a 50 day simple moving average of $167.30 and a 200-day simple moving average of $169.20. The firm has a market capitalization of $244.17 billion, a PE ratio of 26.65, a price-to-earnings-growth ratio of 3.43 and a beta of 0.55. PepsiCo, Inc. has a 1 year low of $149.48 and a 1 year high of $177.69.

PepsiCo (NASDAQ:PEPGet Rating) last issued its quarterly earnings data on Tuesday, July 12th. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.13. The company had revenue of $20.23 billion during the quarter, compared to analyst estimates of $19.51 billion. PepsiCo had a return on equity of 52.01% and a net margin of 11.28%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 earnings per share. Equities research analysts anticipate that PepsiCo, Inc. will post 6.65 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be given a $1.15 dividend. The ex-dividend date is Thursday, September 1st. This represents a $4.60 annualized dividend and a yield of 2.60%. PepsiCo’s payout ratio is 69.28%.

PepsiCo Profile

(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.

See Also

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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