Private Ocean LLC Sells 364 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Private Ocean LLC lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 14.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,076 shares of the company’s stock after selling 364 shares during the period. Private Ocean LLC’s holdings in PepsiCo were worth $363,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake 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 buying an additional 578,083 shares during the period. Norges Bank bought a new stake in shares of PepsiCo in the fourth quarter valued at approximately $2,686,139,000. California Public Employees Retirement System boosted its stake 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 buying an additional 1,470,064 shares during the period. Franklin Resources Inc. boosted its stake 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 buying an additional 1,345,065 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake 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 buying an additional 1,105,127 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Wedbush restated an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Jefferies Financial Group upped their target price on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. BNP Paribas assumed coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. JPMorgan Chase & Co. upped their target price on PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research note on Wednesday. Finally, Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a report on Monday, March 18th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $186.38.

PepsiCo Stock Performance

NASDAQ PEP opened at $164.93 on Friday. The company has a market capitalization of $226.74 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 2.71 and a beta of 0.52. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38. The stock has a fifty day simple moving average of $173.37 and a 200 day simple moving average of $170.31. 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 (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.09. The business had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. PepsiCo’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.50 earnings per share. Sell-side analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current year.

PepsiCo Increases Dividend

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

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the company’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 sale, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

PepsiCo Company 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.