Csenge Advisory Group lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 33.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,999 shares of the company’s stock after purchasing an additional 744 shares during the quarter. Csenge Advisory Group’s holdings in PepsiCo were worth $331,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in PepsiCo by 1.4% in the third quarter. Vanguard Group Inc. now owns 119,706,640 shares of the company’s stock valued at $13,383,201,000 after purchasing an additional 1,595,038 shares in the last quarter. Vanguard Group Inc boosted its stake in shares of PepsiCo by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 119,706,640 shares of the company’s stock worth $13,383,201,000 after acquiring an additional 1,595,038 shares during the period. BlackRock Inc. boosted its stake in shares of PepsiCo by 1.0% during the 3rd quarter. BlackRock Inc. now owns 94,826,560 shares of the company’s stock worth $10,601,611,000 after acquiring an additional 974,404 shares during the period. Oregon Public Employees Retirement Fund boosted its stake in shares of PepsiCo by 10,622.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock worth $314,000 after acquiring an additional 34,380,553 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of PepsiCo by 3,272,537.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 19,930,365 shares of the company’s stock worth $2,228,213,000 after acquiring an additional 19,929,756 shares during the period. Institutional investors and hedge funds own 70.91% of the company’s stock.
In related news, EVP David Yawman sold 25,263 shares of the business’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 in the company, valued at approximately $10,231,676.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Ramon Laguarta sold 15,431 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $129.43, for a total transaction of $1,997,234.33. Following the sale, the chairman now owns 232,394 shares of the company’s stock, valued at $30,078,755.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,494 shares of company stock worth $6,173,705. 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The company had revenue of $12.88 billion for the quarter, compared to analysts’ expectations of $12.68 billion. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. PepsiCo’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.96 earnings per share. As a group, research analysts predict 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. Shareholders of record on Friday, June 7th will be given a dividend of $0.955 per share. This represents a $3.82 annualized dividend and a yield of 2.87%. This is a boost from PepsiCo’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, June 6th. PepsiCo’s payout ratio is presently 67.49%.
Several brokerages have weighed in on PEP. BidaskClub raised PepsiCo from a “buy” rating to a “strong-buy” rating in a report on Friday. Wells Fargo & Co upped their price target on PepsiCo from $120.00 to $127.00 and gave the company a “positive” rating in a research report on Tuesday, May 14th. Zacks Investment Research raised PepsiCo from a “sell” rating to a “hold” rating in a research note on Tuesday, February 12th. Deutsche Bank increased their price objective on PepsiCo from $120.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, April 18th. Finally, SunTrust Banks increased their price objective on PepsiCo to $120.00 and gave the stock a “hold” rating in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $124.65.
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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