Thrive Wealth Management LLC grew its holdings in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 34.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,621 shares of the company’s stock after acquiring an additional 928 shares during the quarter. Thrive Wealth Management LLC’s holdings in PepsiCo were worth $603,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Cypress Wealth Services LLC lifted its holdings in shares of PepsiCo by 2.3% during the first quarter. Cypress Wealth Services LLC now owns 2,544 shares of the company’s stock worth $426,000 after purchasing an additional 58 shares during the period. Retirement Planning Co of New England Inc. lifted its holdings in shares of PepsiCo by 0.9% during the first quarter. Retirement Planning Co of New England Inc. now owns 6,605 shares of the company’s stock worth $1,105,000 after purchasing an additional 59 shares during the period. Cullen Capital Management LLC lifted its holdings in shares of PepsiCo by 0.7% during the first quarter. Cullen Capital Management LLC now owns 8,765 shares of the company’s stock worth $1,467,000 after purchasing an additional 60 shares during the period. Guardian Wealth Advisors LLC lifted its holdings in shares of PepsiCo by 1.5% during the first quarter. Guardian Wealth Advisors LLC now owns 4,084 shares of the company’s stock worth $684,000 after purchasing an additional 61 shares during the period. Finally, Titleist Asset Management LTD. lifted its holdings in shares of PepsiCo by 2.9% during the first quarter. Titleist Asset Management LTD. now owns 2,183 shares of the company’s stock worth $365,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 71.38% of the company’s stock.
Insider Buying and Selling
In related news, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 50,577 shares of the company’s stock, valued at approximately $8,842,376.91. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other PepsiCo news, CEO Ramkumar Krishnan sold 3,433 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 50,577 shares in the company, valued at $8,842,376.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Steven C. Williams sold 1,753 shares of the company’s stock in a transaction that occurred 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 sale, 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. Corporate insiders own 0.12% of the company’s stock.
Analysts Set New Price Targets
PEP has been the subject of a number of analyst reports. Credit Suisse Group boosted their price target on PepsiCo from $168.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. Wells Fargo & Company dropped their price target on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft upped 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. Barclays decreased their price target on PepsiCo from $187.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. Finally, UBS Group decreased their target price on PepsiCo from $190.00 to $182.00 and set a “buy” rating on the stock in a research note on Tuesday, June 21st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $182.00.
PepsiCo Stock Up 0.7 %
NASDAQ:PEP opened at $166.97 on Monday. The firm has a market capitalization of $230.40 billion, a PE ratio of 25.15, a price-to-earnings-growth ratio of 3.27 and a beta of 0.55. The stock has a 50 day moving average of $173.45 and a 200-day moving average of $170.50. PepsiCo, Inc. has a 52 week low of $149.48 and a 52 week 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.
PepsiCo (NASDAQ:PEP – Get Rating) last posted its earnings results on Tuesday, July 12th. The company reported $1.86 EPS for the quarter, beating 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 business’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.72 earnings per share. Analysts predict that PepsiCo, Inc. will post 6.66 EPS for the current 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 issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Thursday, September 1st. PepsiCo’s dividend payout ratio (DPR) is 69.28%.
PepsiCo Profile
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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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