Old Port Advisors Sells 159 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Old Port Advisors reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 2.1% during the first quarter, Holdings Channel reports. The institutional investor owned 7,319 shares of the company’s stock after selling 159 shares during the quarter. Old Port Advisors’ holdings in PepsiCo were worth $1,243,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of PepsiCo by 5.5% in the fourth quarter. BlackRock Inc. now owns 105,501,759 shares of the company’s stock worth $18,326,710,000 after purchasing an additional 5,454,097 shares during the last quarter. State Street Corp grew its stake in shares of PepsiCo by 1.3% in the fourth quarter. State Street Corp now owns 58,904,562 shares of the company’s stock worth $10,293,622,000 after purchasing an additional 763,595 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of PepsiCo by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 23,137,438 shares of the company’s stock worth $4,008,329,000 after purchasing an additional 585,018 shares during the last quarter. Capital Research Global Investors grew its stake in shares of PepsiCo by 9.6% in the fourth quarter. Capital Research Global Investors now owns 18,698,968 shares of the company’s stock worth $3,248,196,000 after purchasing an additional 1,634,702 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of PepsiCo by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 13,837,497 shares of the company’s stock worth $2,403,712,000 after purchasing an additional 93,169 shares during the last quarter. 72.12% of the stock is currently owned by hedge funds and other institutional investors.

PEP stock opened at $162.03 on Thursday. The firm has a 50 day moving average price of $166.98 and a 200-day moving average price of $168.10. PepsiCo, Inc. has a 52-week low of $144.61 and a 52-week high of $177.62. The firm has a market capitalization of $224.04 billion, a price-to-earnings ratio of 22.17, a PEG ratio of 3.12 and a beta of 0.59. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.68 and a current ratio of 0.87.

PepsiCo (NASDAQ:PEPGet Rating) last released its earnings results on Tuesday, April 26th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.05. PepsiCo had a net margin of 12.57% and a return on equity of 53.44%. The firm had revenue of $16.20 billion during the quarter, compared to analyst estimates of $15.54 billion. During the same period last year, the business earned $1.21 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 6.64 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 30th. Investors of record on Friday, June 3rd will be issued a $1.15 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.08. This represents a $4.60 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Thursday, June 2nd. PepsiCo’s payout ratio is presently 62.93%.

In related news, EVP David Flavell sold 5,150 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $175.11, for a total value of $901,816.50. Following the completion of the transaction, the executive vice president now directly owns 28,275 shares in the company, valued at approximately $4,951,235.25. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Eugene Willemsen sold 4,560 shares of PepsiCo stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $175.61, for a total transaction of $800,781.60. Following the completion of the sale, the chief executive officer now directly owns 8,277 shares of the company’s stock, valued at approximately $1,453,523.97. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Several analysts recently issued reports on PEP shares. JPMorgan Chase & Co. raised their target price on PepsiCo from $183.00 to $186.00 in a research note on Wednesday, April 27th. Wells Fargo & Company cut their target price on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Credit Suisse Group lifted their price objective on PepsiCo from $163.00 to $168.00 in a research report on Wednesday, April 27th. UBS Group cut their price objective on PepsiCo from $190.00 to $182.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, StockNews.com started coverage on PepsiCo in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.13.

PepsiCo Profile (Get Rating)

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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