PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Thrive Wealth Management LLC

Thrive Wealth Management LLC increased its position in PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 34.5% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,621 shares of the company’s stock after purchasing an additional 928 shares during the period. Thrive Wealth Management LLC’s holdings in PepsiCo were worth $603,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in PepsiCo by 1.6% during the first quarter. Vanguard Group Inc. now owns 124,592,570 shares of the company’s stock worth $20,854,304,000 after purchasing an additional 1,991,968 shares in the last quarter. BlackRock Inc. lifted its stake in shares of PepsiCo by 5.5% in the 4th quarter. BlackRock Inc. now owns 105,501,759 shares of the company’s stock valued at $18,326,710,000 after purchasing an additional 5,454,097 shares during the last quarter. State Street Corp lifted its position in PepsiCo by 0.8% during the 1st quarter. State Street Corp now owns 59,395,137 shares of the company’s stock worth $9,941,558,000 after acquiring an additional 490,575 shares during the last quarter. Capital Research Global Investors lifted its position in PepsiCo by 9.6% during the 4th quarter. Capital Research Global Investors now owns 18,698,968 shares of the company’s stock worth $3,248,196,000 after acquiring an additional 1,634,702 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in PepsiCo by 10.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 15,264,902 shares of the company’s stock worth $2,555,040,000 after acquiring an additional 1,427,405 shares during the last quarter. 71.38% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $166.97 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $230.40 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 3.27 and a beta of 0.55. PepsiCo, Inc. has a 1-year low of $149.48 and a 1-year high of $181.07. The firm’s 50-day moving average price is $173.45 and its two-hundred day moving average price is $170.50.

PepsiCo (NASDAQ:PEPGet Rating) last released its quarterly 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. PepsiCo had a net margin of 11.28% and a return on equity of 52.01%. The business had revenue of $20.23 billion for the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the prior year, the firm earned $1.72 earnings per share. PepsiCo’s revenue was up 5.2% compared to the same quarter last year. On average, equities analysts predict that PepsiCo, Inc. will post 6.66 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be paid a dividend of $1.15 per share. The ex-dividend date is Thursday, September 1st. This represents a $4.60 annualized dividend and a dividend yield of 2.75%. PepsiCo’s dividend payout ratio (DPR) is currently 69.28%.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $174.83, for a total value of $600,191.39. Following the transaction, the chief executive officer now directly owns 50,577 shares in the company, valued at $8,842,376.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $174.83, for a total value of $600,191.39. Following the transaction, the chief executive officer now directly owns 50,577 shares in the company, valued at $8,842,376.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Steven C. Williams sold 1,753 shares of the stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $171.18, for a total transaction of $300,078.54. Following the completion of the transaction, the chief executive officer now owns 70,892 shares in the company, valued at $12,135,292.56. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PEP has been the subject of a number of research analyst reports. Credit Suisse Group upped their price objective on shares of PepsiCo from $168.00 to $170.00 and gave the company a “neutral” rating in a research report on Wednesday, July 13th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of PepsiCo from $175.00 to $178.00 and gave the company a “hold” rating in a research report on Thursday, July 7th. UBS Group cut their price objective on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Tuesday, June 21st. JPMorgan Chase & Co. cut their price objective on shares of PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Finally, Wells Fargo & Company lowered their target price on shares of PepsiCo from $175.00 to $172.00 and set an “equal weight” 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 issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $182.00.

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.

Further Reading

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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