WealthPlan Investment Management LLC Invests $22.78 Million in PepsiCo, Inc. (NASDAQ:PEP)

WealthPlan Investment Management LLC bought a new position in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 125,037 shares of the company’s stock, valued at approximately $22,779,000. PepsiCo comprises about 1.7% of WealthPlan Investment Management LLC’s portfolio, making the stock its 7th largest position.

Other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of PepsiCo by 34.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,128,044 shares of the company’s stock valued at $188,812,000 after purchasing an additional 286,169 shares in the last quarter. AMI Investment Management Inc. lifted its holdings in PepsiCo by 0.7% in the first quarter. AMI Investment Management Inc. now owns 16,627 shares of the company’s stock valued at $2,783,000 after acquiring an additional 113 shares during the period. Mather Group LLC. lifted its holdings in PepsiCo by 29.3% in the first quarter. Mather Group LLC. now owns 5,562 shares of the company’s stock valued at $931,000 after acquiring an additional 1,262 shares during the period. Wsfs Capital Management LLC lifted its holdings in PepsiCo by 117.2% in the first quarter. Wsfs Capital Management LLC now owns 2,995 shares of the company’s stock valued at $501,000 after acquiring an additional 1,616 shares during the period. Finally, Equitable Holdings Inc. lifted its holdings in PepsiCo by 8.5% in the first quarter. Equitable Holdings Inc. now owns 26,909 shares of the company’s stock valued at $4,504,000 after acquiring an additional 2,116 shares during the period. 70.76% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEP has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on PepsiCo from $181.00 to $186.00 and gave the company a “hold” rating in a report on Tuesday, December 6th. Wells Fargo & Company increased their target price on PepsiCo from $187.00 to $190.00 and gave the company an “equal weight” rating in a report on Wednesday, February 8th. Citigroup started coverage on PepsiCo in a research note on Thursday, February 16th. They issued a “neutral” rating and a $180.00 price objective on the stock. Credit Suisse Group raised their price objective on PepsiCo from $175.00 to $182.00 and gave the stock a “neutral” rating in a research note on Friday, February 10th. Finally, Barclays decreased their price objective on PepsiCo from $197.00 to $187.00 and set an “overweight” rating on the stock in a research note on Monday, February 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $184.08.

PepsiCo Stock Performance

NASDAQ:PEP opened at $175.13 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.61 and a debt-to-equity ratio of 2.06. PepsiCo, Inc. has a 12-month low of $154.86 and a 12-month high of $186.84. The stock has a 50-day moving average price of $173.66 and a 200 day moving average price of $175.83. The stock has a market capitalization of $241.20 billion, a P/E ratio of 27.32, a P/E/G ratio of 3.20 and a beta of 0.53.

PepsiCo (NASDAQ:PEP – Get Rating) last released its earnings results on Thursday, February 9th. The company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.64 by $0.03. The firm had revenue of $28 billion during the quarter, compared to analysts’ expectations of $26.82 billion. PepsiCo had a return on equity of 51.34% and a net margin of 10.31%. The firm’s revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $1.53 earnings per share. Equities research analysts forecast that PepsiCo, Inc. will post 7.23 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 3rd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend is Thursday, March 2nd. PepsiCo’s dividend payout ratio is presently 71.76%.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, Director Robert C. Pohlad sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $172.47, for a total transaction of $12,935,250.00. Following the completion of the transaction, the director now owns 183,929 shares in the company, valued at approximately $31,722,234.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Robert C. Pohlad sold 75,000 shares of PepsiCo stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $172.47, for a total value of $12,935,250.00. Following the completion of the transaction, the director now owns 183,929 shares in the company, valued at approximately $31,722,234.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ramkumar Krishnan sold 16,827 shares of PepsiCo stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $172.70, for a total value of $2,906,022.90. Following the completion of the transaction, the chief executive officer now owns 49,000 shares of the company’s stock, valued at approximately $8,462,300. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by company insiders.

PepsiCo Profile

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PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of beverages, food, and snacks. It operates through the following business segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), PepsiCo Beverages North America (PBNA), Latin America (LatAm), Europe, Africa, Middle East, and South Asia (AMESA), and Asia Pacific, Australia and New Zealand, and China Region (APAC).