Atticus Wealth Management LLC Buys 1,217 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Atticus Wealth Management LLC grew its stake in PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 65.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,087 shares of the company’s stock after acquiring an additional 1,217 shares during the quarter. Atticus Wealth Management LLC’s holdings in PepsiCo were worth $514,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PEP. Norges Bank bought a new stake in PepsiCo during the 4th quarter worth approximately $2,180,925,000. BlackRock Inc. increased its stake in PepsiCo by 5.5% during the 4th quarter. BlackRock Inc. now owns 105,501,759 shares of the company’s stock worth $18,326,710,000 after purchasing an additional 5,454,097 shares in the last quarter. Royal Bank of Canada grew its stake in shares of PepsiCo by 56.6% during the 1st quarter. Royal Bank of Canada now owns 14,810,738 shares of the company’s stock worth $2,479,022,000 after acquiring an additional 5,352,721 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of PepsiCo by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 124,592,570 shares of the company’s stock worth $20,854,304,000 after acquiring an additional 1,991,968 shares in the last quarter. Finally, Sanders Capital LLC grew its stake in shares of PepsiCo by 34.3% during the 4th quarter. Sanders Capital LLC now owns 6,691,540 shares of the company’s stock worth $1,285,136,000 after acquiring an additional 1,708,005 shares in the last quarter. 71.38% of the stock is owned by institutional investors.

PepsiCo Trading Up 0.1 %

Shares of PepsiCo stock opened at $168.60 on Friday. The business has a fifty day simple moving average of $173.32 and a two-hundred day simple moving average of $170.45. PepsiCo, Inc. has a 1 year low of $149.48 and a 1 year high of $181.07. The company has a market capitalization of $232.65 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 3.30 and a beta of 0.55. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEPGet Rating) last announced its quarterly earnings results on Tuesday, July 12th. The company reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.13. PepsiCo had a return on equity of 52.01% and a net margin of 11.28%. The business had revenue of $20.23 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same quarter last year, the firm posted $1.72 EPS. The company’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts forecast that PepsiCo, Inc. will post 6.66 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Thursday, September 1st. PepsiCo’s dividend payout ratio is currently 69.28%.

Insider Transactions at PepsiCo

In other news, CEO Ramkumar Krishnan sold 3,433 shares of PepsiCo stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $174.83, for a total transaction of $600,191.39. Following the completion of the sale, the chief executive officer now owns 50,577 shares of the company’s stock, valued at $8,842,376.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Ramkumar Krishnan sold 3,433 shares of the firm’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $174.83, for a total value of $600,191.39. Following the transaction, the chief executive officer now owns 50,577 shares in the company, valued at $8,842,376.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the transaction, the chief executive officer now owns 70,892 shares in the company, valued at approximately $12,135,292.56. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 6th. Deutsche Bank Aktiengesellschaft raised their price target on shares of PepsiCo from $175.00 to $178.00 and gave the stock a “hold” rating in a research note on Thursday, July 7th. UBS Group decreased their price target on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Barclays decreased their price target on shares of PepsiCo from $187.00 to $183.00 and set an “overweight” rating for the company in a research note on Wednesday, July 6th. Finally, Credit Suisse Group increased their price objective on PepsiCo from $168.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. Five analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, PepsiCo presently has a consensus rating of “Moderate Buy” and an average target price of $182.00.

About PepsiCo

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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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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