Westpac Banking Corp lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 105,625 shares of the company’s stock after buying an additional 4,273 shares during the quarter. Westpac Banking Corp’s holdings in PepsiCo were worth $11,669,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. HC Financial Advisors Inc. grew its position in PepsiCo by 4.2% in the 3rd quarter. HC Financial Advisors Inc. now owns 8,967 shares of the company’s stock valued at $1,003,000 after purchasing an additional 363 shares during the period. Lau Associates LLC increased its position in shares of PepsiCo by 7.6% during the fourth quarter. Lau Associates LLC now owns 57,455 shares of the company’s stock valued at $6,348,000 after buying an additional 4,035 shares during the period. Meritage Portfolio Management increased its position in shares of PepsiCo by 4.3% during the fourth quarter. Meritage Portfolio Management now owns 5,149 shares of the company’s stock valued at $569,000 after buying an additional 210 shares during the period. CWM LLC grew its holdings in shares of PepsiCo by 155.2% during the fourth quarter. CWM LLC now owns 30,636 shares of the company’s stock worth $3,385,000 after purchasing an additional 18,630 shares in the last quarter. Finally, Pflug Koory LLC grew its holdings in shares of PepsiCo by 13.5% during the fourth quarter. Pflug Koory LLC now owns 10,061 shares of the company’s stock worth $1,112,000 after purchasing an additional 1,200 shares in the last quarter. 71.79% of the stock is owned by institutional investors.
Several brokerages have issued reports on PEP. Gabelli reaffirmed a “buy” rating on shares of PepsiCo in a research note on Tuesday, February 19th. BidaskClub raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, March 27th. Argus reaffirmed a “buy” rating on shares of PepsiCo in a research note on Thursday, April 18th. Bank of America upped their target price on PepsiCo from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 target price for the company in a research note on Tuesday, April 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $124.65.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Wednesday, April 17th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. The firm had revenue of $12.88 billion for the quarter, compared to the consensus estimate of $12.68 billion. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 earnings per share. On average, equities analysts predict that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.955 per share. This represents a $3.82 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend is Thursday, June 6th. This is an increase from PepsiCo’s previous quarterly dividend of $0.93. PepsiCo’s dividend payout ratio (DPR) is 65.55%.
In other PepsiCo news, CEO Vivek Sankaran sold 13,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $117.28, for a total transaction of $1,524,640.00. Following the completion of the transaction, the chief executive officer now owns 90,379 shares in the company, valued at approximately $10,599,649.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Marie T. Gallagher sold 7,800 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $125.99, for a total value of $982,722.00. Following 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. Insiders have sold a total of 46,063 shares of company stock worth $5,701,110 in the last three months. 0.28% of the stock is owned by corporate insiders.
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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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