Spire Wealth Management reduced its stake in PepsiCo, Inc. (NASDAQ: PEP – Get Rating) by 24.5% in the 1st quarter, Holdings Channel reports. The firm owned 38,556 shares of the company stock after selling 12,522 shares during the quarter. Spire Wealth Management’s holdings in PepsiCo were worth $ 6,454,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in PEP. Norges Bank acquired a new stake in shares of PepsiCo during the fourth quarter valued at about $ 2,180,925,000. BlackRock Inc. lifted its position in shares of PepsiCo by 5.5% during the fourth quarter. BlackRock Inc. now owns 105,501,759 shares of the company stock worth $ 18,326,710,000 after purchasing an additional 5,454,097 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of PepsiCo by 24.8% during the third quarter. UBS Asset Management Americas Inc. now owns 9,226,501 shares of the company stock worth $ 1,387,758,000 after purchasing an additional 1,834,683 shares during the last quarter. Sanders Capital LLC lifted its position in shares of PepsiCo by 34.3% during the fourth quarter. Sanders Capital LLC now owns 6,691,540 shares of the company stock worth $ 1,285,136,000 after purchasing an additional 1,708,005 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of PepsiCo by 9.6% during the fourth quarter. Capital Research Global Investors now owns 18,698,968 shares of the company stock worth $ 3,248,196,000 after purchasing an additional 1,634,702 shares during the last quarter. Institutional investors own 72.12% of the company stock.
In related 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 completion of the transaction, the chief executive officer now owns 8,277 shares of the company stock, valued at approximately $ 1,453,523.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 directly owns 28,275 shares of the company stock, valued at approximately $ 4,951,235.25. The disclosure for this sale can be found here. Insiders own 0.12% of the company stock.
NASDAQ PEP opened at $ 166.13 on Monday. PepsiCo, Inc. has a 12 month low of $ 145.24 and a 12 month 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 has a market capitalization of $ 229.71 billion, a PE ratio of 22.73, a P / E / G ratio of 3.30 and a beta of 0.59. The company 50 day simple moving average is $ 166.74 and its 200 day simple moving average is $ 167.98.
PepsiCo (NASDAQ: PEP – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The company reported $ 1.29 EPS for the quarter, beating analysts’ consensus estimates of $ 1.24 by $ 0.05. The business 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 revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the business earned $ 1.21 earnings per share. Sell-side analysts anticipate that PepsiCo, Inc. will post 6.64 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Friday, June 3rd will be given a $ 1.15 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $ 1.08. The ex-dividend date is Thursday, June 2nd. This represents a $ 4.60 annualized dividend and a yield of 2.77%. PepsiCo’s payout ratio is 62.93%.
PEP has been the topic of several research analyst reports. JPMorgan Chase & Co. increased their price target on shares of PepsiCo from $ 183.00 to $ 186.00 in a research report on Wednesday, April 27th. Citigroup raised their target price on shares of PepsiCo from $ 194.00 to $ 198.00 in a report on Wednesday, April 27th. Deutsche Bank Aktiengesellschaft raised their target price on shares of PepsiCo from $ 173.00 to $ 175.00 in a report on Wednesday, April 27th. Wells Fargo & Company cut their target price on shares of PepsiCo from $ 175.00 to $ 172.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 21st. Finally, UBS Group cut their target price 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. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $ 177.13.
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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