Mitchell Sinkler & Starr PA trimmed its position in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 0.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,360 shares of the company’s stock after selling 144 shares during the quarter. PepsiCo makes up approximately 2.5% of Mitchell Sinkler & Starr PA’s portfolio, making the stock its 14th largest position. Mitchell Sinkler & Starr PA’s holdings in PepsiCo were worth $7,927,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Aprio Wealth Management LLC raised its position in shares of PepsiCo by 26.0% in the first quarter. Aprio Wealth Management LLC now owns 1,780 shares of the company’s stock worth $298,000 after purchasing an additional 367 shares in the last quarter. Revolve Wealth Partners LLC raised its position in shares of PepsiCo by 10.8% in the first quarter. Revolve Wealth Partners LLC now owns 1,709 shares of the company’s stock worth $286,000 after purchasing an additional 166 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of PepsiCo by 0.8% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 112,299 shares of the company’s stock worth $18,797,000 after purchasing an additional 906 shares in the last quarter. PFG Advisors lifted its position in shares of PepsiCo by 7.0% in the first quarter. PFG Advisors now owns 22,963 shares of the company’s stock worth $3,844,000 after purchasing an additional 1,494 shares in the last quarter. Finally, MJP Associates Inc. ADV lifted its position in shares of PepsiCo by 7.4% in the first quarter. MJP Associates Inc. ADV now owns 5,435 shares of the company’s stock worth $910,000 after purchasing an additional 373 shares in the last quarter. Institutional investors own 72.12% of the company’s stock.
Several brokerages recently weighed in on PEP. Citigroup raised their price objective on shares of PepsiCo from $194.00 to $198.00 in a research report on Wednesday, April 27th. StockNews.com started coverage on shares of PepsiCo in a report on Thursday, March 31st. They set a “buy” rating on the stock. UBS Group cut 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. JPMorgan Chase & Co. raised their price target on shares of PepsiCo from $183.00 to $186.00 in a report on Wednesday, April 27th. Finally, Guggenheim raised their price target on shares of PepsiCo from $188.00 to $193.00 in a report on Wednesday, April 27th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.13.
In other news, CEO Eugene Willemsen sold 4,560 shares of PepsiCo stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $175.61, for a total transaction of $800,781.60. Following the sale, the chief executive officer now directly owns 8,277 shares in the company, valued at approximately $1,453,523.97. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP David Flavell sold 5,150 shares of the business’s stock in a transaction dated Monday, May 16th. The shares were 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 $4,951,235.25. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.
Shares of PEP opened at $164.01 on Wednesday. The company has a market capitalization of $226.77 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 3.30 and a beta of 0.59. PepsiCo, Inc. has a one year low of $146.40 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 company’s fifty day moving average price is $166.48 and its 200 day moving average price is $167.93.
PepsiCo (NASDAQ:PEP – Get Rating) last posted its quarterly earnings results on Tuesday, April 26th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.05. The company had revenue of $16.20 billion for the quarter, compared to analyst estimates of $15.54 billion. PepsiCo had a net margin of 12.57% and a return on equity of 53.44%. The business’s quarterly revenue was up 9.3% on a year-over-year basis. During the same period last year, the business posted $1.21 EPS. Analysts anticipate that PepsiCo, Inc. will post 6.64 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Friday, June 3rd will be given a dividend of $1.15 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.08. This represents a $4.60 annualized dividend and a dividend yield of 2.80%. The ex-dividend date is Thursday, June 2nd. PepsiCo’s payout ratio is 62.93%.
About PepsiCo: (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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