Heritage Trust Co raised its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.0% in the first quarter, Holdings Channel reports. The fund owned 17,130 shares of the company’s stock after buying an additional 163 shares during the period. Heritage Trust Co’s holdings in PepsiCo were worth $2,423,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. Emerson Wealth Management LLC purchased a new stake in shares of PepsiCo in the 1st quarter valued at approximately $28,000. Inspire Advisors LLC purchased a new position in shares of PepsiCo during the 4th quarter worth approximately $31,000. Defined Wealth Management LLC purchased a new position in shares of PepsiCo during the 4th quarter worth approximately $36,000. Mayar Capital Ltd. purchased a new position in shares of PepsiCo during the 1st quarter worth approximately $42,000. Finally, Oder Investment Management LLC purchased a new position in shares of PepsiCo during the 4th quarter worth approximately $45,000. Institutional investors own 70.64% of the company’s stock.
In related news, CEO Silviu Popovici sold 20,000 shares of PepsiCo stock in a transaction on Friday, May 7th. The shares were 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 directly owns 75,886 shares in the company, valued at approximately $11,033,824.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Wednesday, April 14th. The company reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.09. PepsiCo had a net margin of 10.51% and a return on equity of 58.55%. The firm had revenue of $14.82 billion for the quarter, compared to analyst estimates of $14.54 billion. During the same period last year, the business earned $1.07 EPS. PepsiCo’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts anticipate that PepsiCo, Inc. will post 6.05 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Friday, June 4th will be paid a dividend of $1.075 per share. This is a positive change from PepsiCo’s previous quarterly dividend of $1.02. This represents a $4.30 annualized dividend and a yield of 2.93%. The ex-dividend date is Thursday, June 3rd. PepsiCo’s dividend payout ratio (DPR) is currently 77.90%.
Several equities analysts have commented on the stock. Wolfe Research assumed coverage on shares of PepsiCo in a research report on Monday, April 12th. They issued a “peer perform” rating for the company. Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price target for the company in a research report on Friday, February 12th. Barclays raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $151.00 price target for the company in a research report on Monday, March 22nd. Guggenheim reissued a “buy” rating on shares of PepsiCo in a research report on Thursday, April 1st. Finally, Credit Suisse Group raised their price target on shares of PepsiCo from $144.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, April 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $149.23.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.
Read More: What is the LIBOR?
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP).
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.