Welch & Forbes LLC Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Welch & Forbes LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 602,112 shares of the company’s stock after selling 4,244 shares during the quarter. PepsiCo accounts for 1.9% of Welch & Forbes LLC’s investment portfolio, making the stock its 13th largest position. Welch & Forbes LLC’s holdings in PepsiCo were worth $78,955,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Country Club Trust Company n.a. increased its position in shares of PepsiCo by 3.4% in the second quarter. Country Club Trust Company n.a. now owns 18,047 shares of the company’s stock valued at $2,366,000 after buying an additional 598 shares in the last quarter. Clark Capital Management Group Inc. raised its holdings in shares of PepsiCo by 17.1% in the 2nd quarter. Clark Capital Management Group Inc. now owns 7,817 shares of the company’s stock valued at $1,025,000 after buying an additional 1,144 shares during the period. CENTRAL TRUST Co raised its holdings in shares of PepsiCo by 0.9% in the 2nd quarter. CENTRAL TRUST Co now owns 239,358 shares of the company’s stock valued at $32,158,000 after buying an additional 2,041 shares during the period. Smith Salley & Associates raised its holdings in shares of PepsiCo by 6.1% in the 2nd quarter. Smith Salley & Associates now owns 70,265 shares of the company’s stock valued at $9,214,000 after buying an additional 4,059 shares during the period. Finally, Sheets Smith Wealth Management raised its holdings in shares of PepsiCo by 380.0% in the 2nd quarter. Sheets Smith Wealth Management now owns 42,444 shares of the company’s stock valued at $5,566,000 after buying an additional 33,601 shares during the period. Institutional investors and hedge funds own 71.21% of the company’s stock.

In other PepsiCo news, CEO Steven C. Williams sold 2,420 shares of the stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $133.95, for a total transaction of $324,159.00. Following the completion of the sale, the chief executive officer now directly owns 54,920 shares of the company’s stock, valued at approximately $7,356,534. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Ramon Laguarta sold 15,431 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $129.43, for a total value of $1,997,234.33. Following the sale, the chairman now directly owns 232,394 shares of the company’s stock, valued at $30,078,755.42. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

Shares of NASDAQ PEP traded up $0.78 during trading hours on Friday, reaching $127.92. The stock had a trading volume of 5,572,475 shares, compared to its average volume of 4,336,851. The stock has a market capitalization of $178.70 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 3.32 and a beta of 0.60. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.66 and a current ratio of 0.86. PepsiCo, Inc. has a fifty-two week low of $104.53 and a fifty-two week high of $135.24. The business’s 50-day simple moving average is $132.05.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.05. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. The company had revenue of $16.45 billion during the quarter, compared to analysts’ expectations of $16.44 billion. During the same period last year, the firm earned $1.61 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities analysts anticipate that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a dividend of $0.955 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a yield of 2.99%. PepsiCo’s payout ratio is 67.49%.

Several equities research analysts recently issued reports on PEP shares. Atlantic Securities started coverage on PepsiCo in a report on Monday, July 29th. They issued an “overweight” rating and a $145.00 price objective on the stock. Deutsche Bank upped their price objective on PepsiCo from $120.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price objective for the company in a research report on Tuesday, April 23rd. Macquarie upped their price objective on PepsiCo from $126.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Finally, BMO Capital Markets reaffirmed an “average” rating and set a $128.00 price objective on shares of PepsiCo in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $129.35.

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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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