PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Norris Perne & French LLP MI

Norris Perne & French LLP MI boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,485 shares of the company’s stock after buying an additional 781 shares during the period. Norris Perne & French LLP MI’s holdings in PepsiCo were worth $1,135,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in shares of PepsiCo by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after purchasing an additional 578,083 shares in the last quarter. Norges Bank purchased a new stake in shares of PepsiCo in the fourth quarter valued at approximately $2,686,139,000. California Public Employees Retirement System grew its position in shares of PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after purchasing an additional 1,470,064 shares in the last quarter. Franklin Resources Inc. grew its position in shares of PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after purchasing an additional 1,345,065 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of PepsiCo by 15.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock valued at $1,430,250,000 after purchasing an additional 1,105,127 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Price Performance

Shares of PepsiCo stock traded down $1.33 during trading on Friday, hitting $164.93. 8,756,033 shares of the company were exchanged, compared to its average volume of 5,392,291. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $192.38. The stock has a market capitalization of $226.74 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 2.73 and a beta of 0.52. The firm has a 50 day moving average price of $173.37 and a 200 day moving average price of $170.30.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. The firm had revenue of $18.25 billion during the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. PepsiCo’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.50 EPS. On average, equities analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $1.355 per share. The ex-dividend date of this dividend was Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.29%. PepsiCo’s payout ratio is currently 81.50%.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PEP. Jefferies Financial Group increased their price objective on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. JPMorgan Chase & Co. increased their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research note on Monday, March 18th. Barclays decreased their price target on PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Finally, Argus cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $186.38.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of 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.