Thrive Wealth Management LLC boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 34.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,621 shares of the company’s stock after buying an additional 928 shares during the period. Thrive Wealth Management LLC’s holdings in PepsiCo were worth $603,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in PepsiCo by 1.6% in the first quarter. Vanguard Group Inc. now owns 124,592,570 shares of the company’s stock worth $20,854,304,000 after purchasing an additional 1,991,968 shares during the last quarter. BlackRock Inc. grew its stake in shares of PepsiCo by 5.5% in the 4th quarter. BlackRock Inc. now owns 105,501,759 shares of the company’s stock worth $18,326,710,000 after buying an additional 5,454,097 shares in the last quarter. State Street Corp raised its position in shares of PepsiCo by 0.8% during the 1st quarter. State Street Corp now owns 59,395,137 shares of the company’s stock valued at $9,941,558,000 after buying an additional 490,575 shares in the last quarter. Capital Research Global Investors lifted its holdings in shares of PepsiCo by 9.6% in the 4th quarter. Capital Research Global Investors now owns 18,698,968 shares of the company’s stock valued at $3,248,196,000 after acquiring an additional 1,634,702 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in PepsiCo by 10.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 15,264,902 shares of the company’s stock worth $2,555,040,000 after acquiring an additional 1,427,405 shares in the last quarter. Hedge funds and other institutional investors own 71.38% of the company’s stock.
In other news, CEO Steven C. Williams sold 1,753 shares of the firm’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $171.18, for a total transaction of $300,078.54. Following the transaction, the chief executive officer now owns 70,892 shares in the company, valued at $12,135,292.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other PepsiCo news, CEO Ramkumar Krishnan sold 3,433 shares of PepsiCo stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $174.83, for a total value of $600,191.39. Following the transaction, the chief executive officer now owns 50,577 shares in the company, valued at $8,842,376.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Steven C. Williams sold 1,753 shares of PepsiCo stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $171.18, for a total value of $300,078.54. Following the completion of the transaction, the chief executive officer now owns 70,892 shares in the company, valued at approximately $12,135,292.56. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.
PepsiCo Stock Up 0.7 %
NASDAQ:PEP opened at $166.97 on Monday. PepsiCo, Inc. has a twelve month low of $149.48 and a twelve month high of $181.07. The company has a market cap of $230.40 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 3.27 and a beta of 0.55. The stock has a fifty day simple moving average of $173.45 and a 200-day simple moving average of $170.50. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.78.
PepsiCo (NASDAQ:PEP – Get Rating) last released its earnings results on Tuesday, July 12th. The company reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.13. PepsiCo had a return on equity of 52.01% and a net margin of 11.28%. The business had revenue of $20.23 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period last year, the company earned $1.72 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 6.66 EPS for the current year.
PepsiCo Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.60 annualized dividend and a dividend yield of 2.75%. PepsiCo’s dividend payout ratio is currently 69.28%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on PEP. JPMorgan Chase & Co. decreased their price objective on PepsiCo from $186.00 to $185.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. Deutsche Bank Aktiengesellschaft raised their price target on PepsiCo from $175.00 to $178.00 and gave the stock a “hold” rating in a research report on Thursday, July 7th. Credit Suisse Group boosted their price objective on shares of PepsiCo from $168.00 to $170.00 and gave the company a “neutral” rating in a research report on Wednesday, July 13th. UBS Group lowered their target price on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. Finally, Barclays cut their price target on shares of PepsiCo from $187.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, July 6th. Five investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.
PepsiCo Company Profile
PepsiCo, Inc manufactures, markets, distributes, and sells 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.
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