Cornell Pochily Investment Advisors Inc. grew its stake in PepsiCo, Inc. (NASDAQ:PEP) by 10.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,588 shares of the company’s stock after acquiring an additional 715 shares during the quarter. Cornell Pochily Investment Advisors Inc.’s holdings in PepsiCo were worth $838,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in PEP. Highwater Wealth Management LLC purchased a new position in PepsiCo during the 4th quarter worth $28,000. Horan Securities Inc. grew its stake in PepsiCo by 460.0% during the 4th quarter. Horan Securities Inc. now owns 280 shares of the company’s stock worth $30,000 after buying an additional 230 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in PepsiCo during the 4th quarter worth $41,000. Sound Income Strategies LLC grew its stake in PepsiCo by 50.8% during the 4th quarter. Sound Income Strategies LLC now owns 597 shares of the company’s stock worth $66,000 after buying an additional 201 shares during the last quarter. Finally, Ayalon Holdings Ltd. purchased a new position in PepsiCo during the 4th quarter worth $74,000. Institutional investors and hedge funds own 71.85% of the company’s stock.
Several brokerages recently weighed in on PEP. BidaskClub downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Tuesday, April 9th. ValuEngine upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Zacks Investment Research downgraded PepsiCo from a “hold” rating to a “sell” rating in a research note on Wednesday, January 23rd. Deutsche Bank boosted their target price on PepsiCo from $120.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, April 18th. Finally, Bank of America lifted their price target on PepsiCo from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $124.53.
Shares of PEP opened at $126.02 on Thursday. PepsiCo, Inc. has a one year low of $95.94 and a one year high of $128.39. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 1.99. The stock has a market cap of $178.97 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 3.22 and a beta of 0.66.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Wednesday, April 17th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The business had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $12.68 billion. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. The company’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. As a group, equities research analysts expect that PepsiCo, Inc. will post 5.51 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.955 dividend. This represents a $3.82 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Thursday, June 6th. This is a boost from PepsiCo’s previous quarterly dividend of $0.93. PepsiCo’s payout ratio is 65.55%.
In other news, CEO Vivek Sankaran sold 13,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $117.28, for a total value of $1,524,640.00. Following the completion of the transaction, the chief executive officer now owns 90,379 shares of the company’s stock, valued at approximately $10,599,649.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Yawman sold 25,263 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $126.42, for a total value of $3,193,748.46. Following the completion of the transaction, the executive vice president now directly owns 80,934 shares of the company’s stock, valued at approximately $10,231,676.28. The disclosure for this sale can be found here. In the last three months, insiders sold 46,063 shares of company stock valued at $5,701,110. Insiders own 0.28% of the company’s stock.
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PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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