First Trust Advisors LP boosted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.5% during the fourth quarter, HoldingsChannel reports. The firm owned 1,032,917 shares of the company’s stock after acquiring an additional 98,038 shares during the period. First Trust Advisors LP’s holdings in PepsiCo were worth $114,117,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Alliancebernstein L.P. grew its stake in PepsiCo by 1.2% in the third quarter. Alliancebernstein L.P. now owns 5,688,336 shares of the company’s stock worth $635,956,000 after purchasing an additional 64,813 shares in the last quarter. AXA grew its stake in PepsiCo by 23.8% in the third quarter. AXA now owns 1,624,395 shares of the company’s stock worth $181,608,000 after purchasing an additional 312,804 shares in the last quarter. FormulaFolio Investments LLC grew its stake in PepsiCo by 4.6% in the third quarter. FormulaFolio Investments LLC now owns 11,605 shares of the company’s stock worth $1,297,000 after purchasing an additional 509 shares in the last quarter. Northeast Financial Consultants Inc grew its stake in PepsiCo by 47.2% in the third quarter. Northeast Financial Consultants Inc now owns 16,531 shares of the company’s stock worth $1,848,000 after purchasing an additional 5,298 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its stake in PepsiCo by 1.7% in the third quarter. Jupiter Asset Management Ltd. now owns 64,375 shares of the company’s stock worth $7,197,000 after purchasing an additional 1,076 shares in the last quarter. 71.79% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Vivek Sankaran sold 13,000 shares of the stock in a transaction 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 sale, the chief executive officer now 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 is accessible through the SEC website. Also, SVP Marie T. Gallagher sold 7,800 shares of the stock in a transaction 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 sale, 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 quarter, insiders have sold 61,494 shares of company stock valued at $7,698,345. Company insiders own 0.28% of the company’s stock.
PepsiCo (NASDAQ:PEP) last posted its earnings results on Wednesday, April 17th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 65.12% and a net margin of 19.37%. PepsiCo’s revenue was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a dividend of $0.955 per share. This represents a $3.82 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Thursday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $0.93. PepsiCo’s dividend payout ratio is currently 65.55%.
Several research analysts recently issued reports on PEP shares. Goldman Sachs Group set a $132.00 price objective on PepsiCo and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Macquarie raised PepsiCo from a “neutral” rating to an “outperform” rating and set a $126.00 price objective on the stock in a research note on Tuesday, February 19th. Barclays reissued a “hold” rating and issued a $111.00 price objective (up previously from $104.00) on shares of PepsiCo in a research note on Monday, February 18th. Finally, Credit Suisse Group started coverage on PepsiCo in a research note on Wednesday, March 6th. They issued an “underperform” rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $124.65.
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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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