EFG Asset Management Americas Corp. Purchases 49,586 Shares of PepsiCo, Inc. (NASDAQ:PEP)

EFG Asset Management Americas Corp. grew its position in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 969.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,703 shares of the company’s stock after purchasing an additional 49,586 shares during the period. PepsiCo makes up about 2.2% of EFG Asset Management Americas Corp.’s holdings, making the stock its 10th largest holding. EFG Asset Management Americas Corp.’s holdings in PepsiCo were worth $9,137,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Cordant Inc. acquired a new stake in shares of PepsiCo in the first quarter valued at $27,000. Landmark Wealth Management LLC acquired a new stake in shares of PepsiCo in the first quarter valued at $29,000. Strategic Asset Management LLC raised its stake in shares of PepsiCo by 53.3% in the first quarter. Strategic Asset Management LLC now owns 276 shares of the company’s stock valued at $46,000 after acquiring an additional 96 shares in the last quarter. Retirement Group LLC increased its holdings in PepsiCo by 100.0% in the first quarter. Retirement Group LLC now owns 322 shares of the company’s stock valued at $54,000 after buying an additional 161 shares during the last quarter. Finally, Lansing Street Advisors purchased a new position in PepsiCo in the first quarter valued at $58,000. 71.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. UBS Group dropped their target price on PepsiCo from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Tuesday, June 21st. JPMorgan Chase & Co. dropped their target price on PepsiCo from $186.00 to $185.00 and set an “overweight” rating on the stock in a report on Wednesday, July 6th. Wells Fargo & Company dropped their price objective on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 21st. Credit Suisse Group raised their price objective on PepsiCo from $168.00 to $170.00 and gave the stock a “neutral” rating in a report on Wednesday, July 13th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on PepsiCo from $175.00 to $178.00 and gave the stock a “hold” rating in a report on Thursday, July 7th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $182.00.

PepsiCo Price Performance

PEP stock opened at $168.60 on Friday. The firm has a 50 day moving average of $173.32 and a 200-day moving average of $170.45. PepsiCo, Inc. has a 12-month low of $149.48 and a 12-month high of $181.07. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.78. The company has a market cap of $232.65 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 3.30 and a beta of 0.55.

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

PepsiCo Dividend Announcement

The business 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 dividend of $1.15 per share. The ex-dividend date is Thursday, September 1st. This represents a $4.60 annualized dividend and a dividend yield of 2.73%. PepsiCo’s dividend payout ratio is currently 69.28%.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 3,433 shares of PepsiCo stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 50,577 shares in the company, valued at approximately $8,842,376.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Steven C. Williams sold 1,753 shares of PepsiCo stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $171.18, for a total transaction of $300,078.54. Following the completion of the transaction, the chief executive officer now directly owns 70,892 shares in the company, valued at approximately $12,135,292.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ramkumar Krishnan sold 3,433 shares of PepsiCo stock in a transaction that occurred 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 directly owns 50,577 shares of the company’s stock, valued at $8,842,376.91. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

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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