Hurlow Wealth Management Group Inc. bought a new stake in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,894 shares of the company’s stock, valued at approximately $424,000.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in PepsiCo by 1.4% during the 3rd quarter. Vanguard Group Inc. now owns 119,706,640 shares of the company’s stock valued at $13,383,201,000 after buying an additional 1,595,038 shares during the period. Vanguard Group Inc boosted its position in PepsiCo by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 119,706,640 shares of the company’s stock valued at $13,383,201,000 after buying an additional 1,595,038 shares during the period. BlackRock Inc. lifted its position in shares of PepsiCo by 1.0% in the 3rd quarter. BlackRock Inc. now owns 94,826,560 shares of the company’s stock worth $10,601,611,000 after purchasing an additional 974,404 shares during the period. Bank of New York Mellon Corp lifted its position in shares of PepsiCo by 3,272,537.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 19,930,365 shares of the company’s stock worth $2,228,213,000 after purchasing an additional 19,929,756 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of PepsiCo by 2.9% in the 4th quarter. Fisher Asset Management LLC now owns 6,851,582 shares of the company’s stock worth $756,963,000 after purchasing an additional 193,336 shares during the period. 72.30% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on the stock. SunTrust Banks raised their target price on shares of PepsiCo to $120.00 and gave the stock a “hold” rating in a research report on Thursday. Morgan Stanley reaffirmed an “overweight” rating and issued a $137.00 target price (up from $130.00) on shares of PepsiCo in a research report on Thursday. Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating in a research report on Thursday. Macquarie raised their target price on shares of PepsiCo from $126.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Royal Bank of Canada reaffirmed a “neutral” rating and issued a $115.00 target price on shares of PepsiCo in a research report on Thursday. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. PepsiCo has a consensus rating of “Hold” and a consensus target price of $123.00.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Wednesday, April 17th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The company had revenue of $12.88 billion during the quarter, compared to analyst estimates of $12.68 billion. PepsiCo had a net margin of 19.35% and a return on equity of 69.83%. PepsiCo’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period last year, the business earned $0.96 EPS. Equities research analysts expect that PepsiCo, Inc. will post 5.5 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 1st were paid a $0.9275 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $3.71 annualized dividend and a dividend yield of 2.92%. PepsiCo’s payout ratio is 65.55%.
In related news, CEO Vivek Sankaran sold 13,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $117.28, for a total value of $1,524,640.00. Following the completion of the transaction, the chief executive officer now directly owns 90,379 shares in the company, valued at approximately $10,599,649.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is owned by company insiders.
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PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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