PEP Stock: JT Stratford LLC acquired a new stake in shares of PepsiCo, Inc. (NYSE:PEP) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 5,634 shares of the company’s stock, valued at approximately $589,000.
Several other institutional investors also recently added to or reduced their stakes in PEP. Itau Unibanco Holding S.A. acquired a new position in PepsiCo during the third quarter valued at approximately $101,000. Piershale Financial Group Inc. increased its position in PepsiCo by 0.4% in the third quarter. Piershale Financial Group Inc. now owns 1,009 shares of the company’s stock valued at $110,000 after buying an additional 4 shares during the period. Edmond DE Rothschild Monaco acquired a new position in PepsiCo during the third quarter valued at approximately $131,000. Peddock Capital Advisors LLC acquired a new position in PepsiCo during the third quarter valued at approximately $152,000. Finally, NewSquare Capital LLC increased its position in PepsiCo by 2.8% in the third quarter. NewSquare Capital LLC now owns 1,622 shares of the company’s stock valued at $176,000 after buying an additional 44 shares during the period. Hedge funds and other institutional investors own 70.43% of the company’s stock.
PepsiCo, Inc. (NYSE:PEP) opened at 109.34 on Wednesday. The stock has a 50 day moving average of $107.28 and a 200-day moving average of $105.57. PepsiCo, Inc. has a 12-month low of $98.50 and a 12-month high of $110.94. The company has a market cap of $156.05 billion, a PE ratio of 25.08 and a beta of 0.53.
PepsiCo (NYSE:PEP) last announced its quarterly earnings data on Wednesday, February 15th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. The company earned $19.52 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter last year, the firm posted $1.06 EPS. The firm’s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities research analysts anticipate that PepsiCo, Inc. will post $5.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 3rd will be issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 2.75%. The ex-dividend date is Wednesday, March 1st. PepsiCo’s dividend payout ratio (DPR) is currently 66.01%.
Several equities analysts recently commented on the stock. Zacks Investment Research downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. BMO Capital Markets restated a “buy” rating and issued a $115.00 price target on shares of PepsiCo in a research note on Thursday, February 16th. Jefferies Group LLC upped their price target on shares of PepsiCo from $118.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, February 16th. Vetr downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $106.67 price target on the stock. in a research note on Tuesday, January 10th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of PepsiCo in a research note on Friday, March 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company’s stock. PepsiCo has a consensus rating of “Buy” and an average target price of $112.76.
In related news, COO Vivek Sankaran sold 2,000 shares of PepsiCo stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $110.22, for a total value of $220,440.00. Following the completion of the sale, the chief operating officer now owns 73,595 shares of the company’s stock, valued at approximately $8,111,640.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ramon Laguarta sold 23,585 shares of PepsiCo stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $109.05, for a total value of $2,571,944.25. Following the completion of the sale, the chief executive officer now directly owns 135,859 shares of the company’s stock, valued at approximately $14,815,423.95. The disclosure for this sale can be found here. In the last three months, insiders sold 44,343 shares of company stock valued at $4,850,480. 0.33% of the stock is currently owned by insiders.
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
The article first appeared in petroglobalnews24.com