UNIVEST FINANCIAL Corp acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,676 shares of the company’s stock, valued at approximately $296,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in PEP. Bartlett & Co. LLC grew its holdings in shares of PepsiCo by 0.5% during the 3rd quarter. Bartlett & Co. LLC now owns 470,849 shares of the company’s stock worth $52,641,000 after purchasing an additional 2,167 shares during the period. Saratoga Research & Investment Management grew its holdings in shares of PepsiCo by 0.4% during the 3rd quarter. Saratoga Research & Investment Management now owns 285,956 shares of the company’s stock worth $31,970,000 after purchasing an additional 1,225 shares during the period. First Hawaiian Bank grew its holdings in shares of PepsiCo by 1,673.7% during the 3rd quarter. First Hawaiian Bank now owns 32,902 shares of the company’s stock worth $3,679,000 after purchasing an additional 31,047 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of PepsiCo by 9.9% during the 3rd quarter. Nisa Investment Advisors LLC now owns 532,268 shares of the company’s stock worth $59,507,000 after purchasing an additional 47,834 shares during the period. Finally, WoodTrust Financial Corp grew its holdings in shares of PepsiCo by 2.7% during the 3rd quarter. WoodTrust Financial Corp now owns 40,622 shares of the company’s stock worth $4,542,000 after purchasing an additional 1,084 shares during the period. 72.31% of the stock is owned by hedge funds and other institutional investors.
In other news, SVP Marie T. Gallagher sold 7,800 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $125.99, for a total value of $982,722.00. Following the completion of the sale, the senior vice president now directly owns 55,665 shares in the company, valued at approximately $7,013,233.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Vivek Sankaran sold 13,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 90,379 shares of the company’s stock, valued at $10,599,649.12. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Wednesday, April 17th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.05. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. The company had revenue of $12.88 billion for the quarter, compared to analyst estimates of $12.68 billion. During the same period in the prior year, the company posted $0.96 EPS. PepsiCo’s quarterly revenue was up 2.6% on a year-over-year basis. On average, analysts forecast that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 1st were given a $0.9275 dividend. This represents a $3.71 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date was Thursday, February 28th. PepsiCo’s payout ratio is 65.55%.
A number of analysts have recently issued reports on the company. BidaskClub cut PepsiCo from a “buy” rating to a “hold” rating in a report on Tuesday, April 9th. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating in a report on Wednesday, January 23rd. Royal Bank of Canada reiterated a “neutral” rating and set a $115.00 target price on shares of PepsiCo in a report on Thursday, April 18th. Goldman Sachs Group set a $132.00 target price on PepsiCo and gave the stock a “neutral” rating in a report on Wednesday. Finally, Bank of America boosted their price target on PepsiCo from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $123.80.
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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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