ERTS Wealth Advisors LLC raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 4,028 shares of the company’s stock after acquiring an additional 270 shares during the period. ERTS Wealth Advisors LLC’s holdings in PepsiCo were worth $528,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Gantzert Investment Co. LLC ADV purchased a new stake in PepsiCo during the 4th quarter valued at $2,231,000. Buckingham Capital Management Inc. increased its position in shares of PepsiCo by 8.4% during the fourth quarter. Buckingham Capital Management Inc. now owns 35,608 shares of the company’s stock worth $3,934,000 after purchasing an additional 2,755 shares in the last quarter. Portfolio Solutions LLC acquired a new position in shares of PepsiCo during the fourth quarter worth $111,000. InterOcean Capital LLC increased its position in shares of PepsiCo by 60.8% during the fourth quarter. InterOcean Capital LLC now owns 202,035 shares of the company’s stock worth $22,321,000 after purchasing an additional 76,427 shares in the last quarter. Finally, Westpac Banking Corp increased its position in shares of PepsiCo by 4.2% during the fourth quarter. Westpac Banking Corp now owns 105,625 shares of the company’s stock worth $11,669,000 after purchasing an additional 4,273 shares in the last quarter. Hedge funds and other institutional investors own 71.51% of the company’s stock.
In other news, CEO Steven C. Williams sold 2,420 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total transaction of $324,159.00. Following the sale, the chief executive officer now directly owns 54,920 shares of the company’s stock, valued at $7,356,534. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kirk Tanner sold 9,573 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the sale, the chief executive officer now directly owns 105,350 shares in the company, valued at $13,500,602.50. The disclosure for this sale can be found here. 0.28% of the stock is owned by insiders.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.05. The firm had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.44 billion. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.61 earnings per share. As a group, research analysts predict 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. Stockholders of record on Friday, September 6th will be issued a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Thursday, September 5th. PepsiCo’s dividend payout ratio (DPR) is presently 67.49%.
A number of brokerages have recently issued reports on PEP. Bank of America upped their price target on PepsiCo from $135.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Credit Suisse Group upped their price target on PepsiCo from $110.00 to $117.00 and gave the stock an “underperform” rating in a research report on Friday, September 6th. Morgan Stanley upped their price target on PepsiCo from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Wednesday. They noted that the move was a valuation call. ValuEngine raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, August 27th. Finally, Atlantic Securities began coverage on PepsiCo in a research report on Monday, July 29th. They set an “overweight” rating and a $145.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the stock. PepsiCo currently has an average rating of “Buy” and an average target price of $130.50.
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.
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.