WealthTrust Arizona LLC lifted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 268.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,106 shares of the company’s stock after acquiring an additional 806 shares during the period. WealthTrust Arizona LLC’s holdings in PepsiCo were worth $124,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. BlackRock Inc. boosted its stake in PepsiCo by 1.4% during the second quarter. BlackRock Inc. now owns 93,852,156 shares of the company’s stock valued at $10,217,684,000 after buying an additional 1,291,012 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in PepsiCo by 20.4% during the second quarter. Bank of New York Mellon Corp now owns 18,389,677 shares of the company’s stock valued at $2,002,085,000 after buying an additional 3,115,305 shares during the last quarter. FMR LLC boosted its stake in PepsiCo by 4.9% during the second quarter. FMR LLC now owns 10,129,130 shares of the company’s stock valued at $1,102,759,000 after buying an additional 471,913 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in PepsiCo by 4.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 9,149,424 shares of the company’s stock valued at $996,098,000 after buying an additional 376,620 shares during the last quarter. Finally, Yacktman Asset Management LP boosted its stake in PepsiCo by 0.6% during the second quarter. Yacktman Asset Management LP now owns 7,852,617 shares of the company’s stock valued at $854,914,000 after buying an additional 46,195 shares during the last quarter. 70.58% of the stock is owned by hedge funds and other institutional investors.
Shares of PEP stock opened at $115.82 on Friday. PepsiCo, Inc. has a 1 year low of $95.94 and a 1 year high of $122.51. The company has a current ratio of 1.31, a quick ratio of 1.15 and a debt-to-equity ratio of 2.95. The company has a market cap of $164.93 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 2.92 and a beta of 0.60.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 2nd. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The business had revenue of $16.49 billion for the quarter, compared to the consensus estimate of $16.38 billion. During the same period in the prior year, the business posted $1.48 earnings per share. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that PepsiCo, Inc. will post 5.65 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Friday, December 7th will be issued a $0.9275 dividend. The ex-dividend date is Thursday, December 6th. This represents a $3.71 annualized dividend and a dividend yield of 3.20%. PepsiCo’s payout ratio is 70.94%.
In other news, EVP David Yawman sold 12,024 shares of the stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $106.99, for a total value of $1,286,447.76. Following the sale, the executive vice president now directly owns 59,133 shares in the company, valued at $6,326,639.67. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Laxman Narasimhan sold 5,500 shares of the stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $106.79, for a total value of $587,345.00. Following the completion of the sale, the chief executive officer now owns 130,135 shares in the company, valued at $13,897,116.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 205,893 shares of company stock worth $22,663,157. Company insiders own 0.27% of the company’s stock.
A number of equities analysts recently commented on PEP shares. ValuEngine raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Macquarie set a $122.00 price target on PepsiCo and gave the company an “outperform” rating in a research note on Friday, September 28th. BidaskClub lowered PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Zacks Investment Research downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Friday, September 28th. Finally, Deutsche Bank decreased their price objective on PepsiCo from $118.00 to $116.00 and set a “hold” rating on the stock in a research report on Wednesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $117.89.
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PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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