Angeles Investment Advisors LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 32.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,200 shares of the company’s stock after selling 2,000 shares during the quarter. Angeles Investment Advisors LLC’s holdings in PepsiCo were worth $594,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in PEP. Meridian Financial Partners LLC raised its stake in shares of PepsiCo by 3.4% during the 1st quarter. Meridian Financial Partners LLC now owns 2,136 shares of the company’s stock valued at $311,000 after purchasing an additional 70 shares during the period. Hoese & Co LLP grew its position in PepsiCo by 3.6% during the first quarter. Hoese & Co LLP now owns 2,005 shares of the company’s stock worth $284,000 after buying an additional 70 shares in the last quarter. Profit Investment Management LLC grew its position in PepsiCo by 1.7% during the first quarter. Profit Investment Management LLC now owns 4,192 shares of the company’s stock worth $593,000 after buying an additional 71 shares in the last quarter. Lbmc Investment Advisors LLC grew its position in PepsiCo by 1.8% during the first quarter. Lbmc Investment Advisors LLC now owns 3,920 shares of the company’s stock worth $554,000 after buying an additional 71 shares in the last quarter. Finally, Financial Planning & Information Services Inc. grew its position in PepsiCo by 3.8% during the first quarter. Financial Planning & Information Services Inc. now owns 1,998 shares of the company’s stock worth $283,000 after buying an additional 73 shares in the last quarter. 70.14% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Silviu Popovici sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $145.40, for a total value of $2,908,000.00. Following the completion of the transaction, the chief executive officer now owns 75,886 shares of the company’s stock, valued at $11,033,824.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Marie T. Gallagher sold 7,409 shares of the company’s stock in a transaction that occurred on Monday, July 19th. The stock was sold at an average price of $155.70, for a total transaction of $1,153,581.30. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Monday, July 12th. The company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.19. The firm had revenue of $19.22 billion for the quarter, compared to the consensus estimate of $17.95 billion. PepsiCo had a net margin of 11.01% and a return on equity of 59.56%. The firm’s revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.32 earnings per share. Equities analysts forecast that PepsiCo, Inc. will post 6.24 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Friday, September 3rd will be issued a dividend of $1.075 per share. This represents a $4.30 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Thursday, September 2nd. PepsiCo’s dividend payout ratio is currently 77.90%.
PEP has been the subject of a number of research reports. Wolfe Research initiated coverage on PepsiCo in a report on Monday, April 12th. They issued a “peer perform” rating for the company. Royal Bank of Canada increased their target price on PepsiCo from $153.00 to $155.00 and gave the company a “sector perform” rating in a report on Wednesday, July 14th. Wells Fargo & Company increased their target price on PepsiCo from $147.00 to $160.00 and gave the company an “equal weight” rating in a report on Wednesday, July 14th. Guggenheim reaffirmed a “buy” rating on shares of PepsiCo in a research report on Thursday, April 1st. Finally, Truist increased their target price on PepsiCo from $135.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, July 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $157.75.
PepsiCo Company Profile
PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.
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