PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Massachusetts Wealth Management

Massachusetts Wealth Management boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,181 shares of the company’s stock after buying an additional 200 shares during the period. PepsiCo accounts for approximately 1.6% of Massachusetts Wealth Management’s portfolio, making the stock its 19th biggest holding. Massachusetts Wealth Management’s holdings in PepsiCo were worth $2,307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in PepsiCo by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock worth $3,227,287,000 after buying an additional 578,083 shares during the last quarter. Norges Bank acquired a new position in PepsiCo during the fourth quarter worth $2,686,139,000. California Public Employees Retirement System lifted its holdings in 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 acquiring an additional 1,470,064 shares during the period. Franklin Resources Inc. boosted its position in shares of PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of PepsiCo by 15.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after purchasing an additional 1,105,127 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.6 %

NASDAQ:PEP traded down $0.98 during trading hours on Thursday, hitting $162.60. The stock had a trading volume of 2,879,575 shares, compared to its average volume of 5,397,682. The business has a 50 day simple moving average of $172.95 and a two-hundred day simple moving average of $170.24. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $192.38. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. The company has a market cap of $223.54 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 2.69 and a beta of 0.52.

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

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.33%. The ex-dividend date of this dividend was Friday, June 7th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio (DPR) is 81.50%.

Insider Buying and Selling at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of PepsiCo stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the sale, the chief executive officer now owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of research analyst reports. Wedbush reissued an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. Jefferies Financial Group raised their price target on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. TD Cowen reduced their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday. Barclays lowered their target price on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. increased their price target on shares of PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 26th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.64.

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.