Hartford Investment Management Co. lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 137,778 shares of the company’s stock after selling 9,626 shares during the quarter. PepsiCo makes up approximately 0.6% of Hartford Investment Management Co.’s portfolio, making the stock its 27th largest holding. Hartford Investment Management Co.’s holdings in PepsiCo were worth $23,061,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of PEP. West Oak Capital LLC boosted its position in PepsiCo by 0.4% during the fourth quarter. West Oak Capital LLC now owns 14,389 shares of the company’s stock worth $2,500,000 after purchasing an additional 60 shares during the period. Lenox Wealth Advisors LLC boosted its position in PepsiCo by 4.1% during the fourth quarter. Lenox Wealth Advisors LLC now owns 1,530 shares of the company’s stock worth $266,000 after purchasing an additional 60 shares during the period. Colton Groome Financial Advisors LLC boosted its position in PepsiCo by 1.4% during the fourth quarter. Colton Groome Financial Advisors LLC now owns 4,355 shares of the company’s stock worth $757,000 after purchasing an additional 60 shares during the period. Sugarloaf Wealth Management LLC boosted its position in PepsiCo by 3.5% during the fourth quarter. Sugarloaf Wealth Management LLC now owns 1,755 shares of the company’s stock worth $305,000 after purchasing an additional 60 shares during the period. Finally, Donald L. Hagan LLC boosted its position in PepsiCo by 1.2% during the fourth quarter. Donald L. Hagan LLC now owns 5,118 shares of the company’s stock worth $889,000 after purchasing an additional 60 shares during the period. Institutional investors own 72.12% of the company’s stock.
A number of equity research analysts have recently issued reports on PEP shares. UBS Group lowered their price target on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Tuesday, June 21st. Citigroup increased their price target on shares of PepsiCo from $194.00 to $198.00 in a report on Wednesday, April 27th. JPMorgan Chase & Co. increased their price target on shares of PepsiCo from $183.00 to $186.00 in a report on Wednesday, April 27th. StockNews.com started coverage on shares of PepsiCo in a report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of PepsiCo from $173.00 to $175.00 in a report on Wednesday, April 27th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.13.
In other news, CEO Eugene Willemsen sold 4,560 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The shares were sold at an average price of $175.61, for a total value of $800,781.60. Following the transaction, the chief executive officer now owns 8,277 shares in the company, valued at $1,453,523.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Flavell sold 5,150 shares of the firm’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of $175.11, for a total transaction of $901,816.50. Following the completion of the transaction, the executive vice president now owns 28,275 shares in the company, valued at approximately $4,951,235.25. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.
Shares of NASDAQ PEP opened at $166.66 on Friday. PepsiCo, Inc. has a one year low of $147.77 and a one year high of $177.62. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.87 and a quick ratio of 0.68. The firm’s 50 day simple moving average is $166.31 and its two-hundred day simple moving average is $167.92. The stock has a market capitalization of $230.44 billion, a P/E ratio of 22.80, a PEG ratio of 3.30 and a beta of 0.59.
PepsiCo (NASDAQ:PEP – Get Rating) last issued its quarterly earnings results on Tuesday, April 26th. The company reported $1.29 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. PepsiCo had a net margin of 12.57% and a return on equity of 53.44%. The business had revenue of $16.20 billion for the quarter, compared to analysts’ expectations of $15.54 billion. During the same period last year, the business earned $1.21 earnings per share. The business’s quarterly revenue was up 9.3% on a year-over-year basis. As a group, equities analysts expect that PepsiCo, Inc. will post 6.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Friday, June 3rd were given a dividend of $1.15 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.08. This represents a $4.60 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Thursday, June 2nd. PepsiCo’s dividend payout ratio (DPR) is currently 62.93%.
PepsiCo Company Profile: (Get Rating)
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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