Bluefin Capital Management LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 8.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,304 shares of the company’s stock after buying an additional 270 shares during the quarter. Bluefin Capital Management LLC’s holdings in PepsiCo were worth $467,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Emerson Wealth Management LLC acquired a new position in PepsiCo in the first quarter valued at about $28,000. Defined Wealth Management LLC acquired a new position in PepsiCo in the fourth quarter worth $36,000. Mayar Capital Ltd. acquired a new position in PepsiCo in the first quarter worth $42,000. Pacific Center for Financial Services boosted its stake in PepsiCo by 100.7% in the fourth quarter. Pacific Center for Financial Services now owns 307 shares of the company’s stock worth $45,000 after purchasing an additional 154 shares in the last quarter. Finally, Goodwin Investment Advisory boosted its stake in PepsiCo by 1,515.0% in the first quarter. Goodwin Investment Advisory now owns 323 shares of the company’s stock worth $46,000 after purchasing an additional 303 shares in the last quarter. 70.14% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Silviu Popovici sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $145.40, for a total transaction of $2,908,000.00. Following the sale, the chief executive officer now owns 75,886 shares of the company’s stock, valued at $11,033,824.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Marie T. Gallagher sold 7,409 shares of the firm’s stock in a transaction on Monday, July 19th. The stock was sold at an average price of $155.70, for a total transaction of $1,153,581.30. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.
PepsiCo (NASDAQ:PEP) last posted its earnings results on Monday, July 12th. The company reported $1.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.19. The company had revenue of $19.22 billion for the quarter, compared to analyst estimates of $17.95 billion. PepsiCo had a net margin of 11.01% and a return on equity of 59.56%. The business’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period last year, the business posted $1.32 earnings per share. As a group, research analysts anticipate that PepsiCo, Inc. will post 6.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, September 3rd will be issued a $1.075 dividend. The ex-dividend date of this dividend is Thursday, September 2nd. This represents a $4.30 annualized dividend and a yield of 2.78%. PepsiCo’s dividend payout ratio (DPR) is presently 77.90%.
A number of equities analysts have recently issued reports on PEP shares. UBS Group upgraded shares of PepsiCo from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $165.00 in a research report on Wednesday, April 21st. Morgan Stanley upped their target price on shares of PepsiCo from $165.00 to $172.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 14th. Guggenheim reaffirmed a “buy” rating on shares of PepsiCo in a research note on Thursday, April 1st. Royal Bank of Canada upped their price target on PepsiCo from $153.00 to $155.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 14th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on PepsiCo from $149.00 to $154.00 and gave the company a “hold” rating in a research note on Wednesday, July 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $157.75.
PepsiCo Company Profile
PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.
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