HL Financial Services LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 348,668 shares of the company’s stock after selling 7,187 shares during the period. HL Financial Services LLC’s holdings in PepsiCo were worth $38,521,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in PEP. Telos Capital Management Inc. increased its stake in shares of PepsiCo by 0.3% during the 4th quarter. Telos Capital Management Inc. now owns 34,032 shares of the company’s stock valued at $3,760,000 after acquiring an additional 101 shares during the last quarter. Whitnell & Co. increased its position in PepsiCo by 0.4% during the 4th quarter. Whitnell & Co. now owns 26,335 shares of the company’s stock worth $2,909,000 after purchasing an additional 103 shares in the last quarter. Leavell Investment Management Inc. increased its position in PepsiCo by 0.6% during the 4th quarter. Leavell Investment Management Inc. now owns 16,637 shares of the company’s stock worth $1,853,000 after purchasing an additional 106 shares in the last quarter. Hayek Kallen Investment Management increased its position in PepsiCo by 0.4% during the 4th quarter. Hayek Kallen Investment Management now owns 27,585 shares of the company’s stock worth $3,048,000 after purchasing an additional 110 shares in the last quarter. Finally, Kovack Advisors Inc. increased its position in PepsiCo by 0.8% during the 4th quarter. Kovack Advisors Inc. now owns 14,539 shares of the company’s stock worth $1,606,000 after purchasing an additional 110 shares in the last quarter. Institutional investors own 71.79% of the company’s stock.
A number of research firms recently issued reports on PEP. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday. Wells Fargo & Co increased their target price on shares of PepsiCo from $120.00 to $127.00 and gave the stock a “positive” rating in a research report on Tuesday. ValuEngine raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. Royal Bank of Canada set a $115.00 target price on shares of PepsiCo and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, Goldman Sachs Group set a $132.00 target price on shares of PepsiCo and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $124.65.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Wednesday, April 17th. The company reported $0.97 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.05. The firm had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $12.68 billion. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. PepsiCo’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 EPS. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be issued a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date is Thursday, June 6th. This is a boost from PepsiCo’s previous quarterly dividend of $0.93. PepsiCo’s dividend payout ratio is currently 65.55%.
In other PepsiCo news, EVP David Yawman sold 25,263 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $126.42, for a total value of $3,193,748.46. Following the completion of the transaction, the executive vice president now owns 80,934 shares in the company, valued at approximately $10,231,676.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Marie T. Gallagher sold 7,800 shares of the company’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 transaction, the senior vice president now owns 55,665 shares of the company’s stock, valued at approximately $7,013,233.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,063 shares of company stock valued at $5,701,110. 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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