MetLife Investment Advisors LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the first quarter, HoldingsChannel.com reports. The fund owned 399,316 shares of the company’s stock after selling 4,375 shares during the period. MetLife Investment Advisors LLC’s holdings in PepsiCo were worth $48,936,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the company. Oregon Public Employees Retirement Fund lifted its position in PepsiCo by 10,622.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock worth $314,000 after purchasing an additional 34,380,553 shares during the period. Matthew Goff Investment Advisor LLC lifted its position in PepsiCo by 10,787.1% during the third quarter. Matthew Goff Investment Advisor LLC now owns 4,492,767 shares of the company’s stock worth $41,267,000 after purchasing an additional 4,451,500 shares during the period. BlackRock Inc. lifted its position in PepsiCo by 2.4% during the fourth quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock worth $10,727,836,000 after purchasing an additional 2,275,511 shares during the period. California Public Employees Retirement System lifted its position in PepsiCo by 34.2% during the fourth quarter. California Public Employees Retirement System now owns 6,285,045 shares of the company’s stock worth $694,372,000 after purchasing an additional 1,600,360 shares during the period. Finally, Vanguard Group Inc lifted its position in PepsiCo by 1.4% during the third quarter. Vanguard Group Inc now owns 119,706,640 shares of the company’s stock worth $13,383,201,000 after purchasing an additional 1,595,038 shares during the period. 70.84% of the stock is owned by institutional investors.
In other news, 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 $7,013,233.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Yawman sold 25,263 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were 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 directly owns 80,934 shares of the company’s stock, valued at approximately $10,231,676.28. The disclosure for this sale can be found here. Insiders sold 48,494 shares of company stock valued at $6,173,705 in the last ninety days. 0.28% of the stock is currently owned by insiders.
PepsiCo (NASDAQ:PEP) last posted its earnings results on Wednesday, April 17th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 19.37% and a return on equity of 65.12%. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. As a group, analysts anticipate that PepsiCo, Inc. will post 5.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a $0.955 dividend. The ex-dividend date is Thursday, June 6th. This represents a $3.82 annualized dividend and a dividend yield of 2.88%. This is an increase from PepsiCo’s previous quarterly dividend of $0.93. PepsiCo’s dividend payout ratio is currently 67.49%.
Several equities research analysts recently weighed in on PEP shares. Macquarie raised shares of PepsiCo from a “neutral” rating to an “outperform” rating and set a $126.00 price objective for the company in a research report on Tuesday, February 19th. Gabelli reaffirmed a “buy” rating on shares of PepsiCo in a research report on Tuesday, February 19th. BidaskClub raised shares of PepsiCo from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 7th. Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating in a research report on Thursday, February 21st. Finally, Royal Bank of Canada reaffirmed a “neutral” rating and set a $115.00 price objective on shares of PepsiCo in a research report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. PepsiCo presently has an average 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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