Howe & Rusling Inc. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 89,972 shares of the company’s stock after selling 746 shares during the quarter. PepsiCo makes up 2.1% of Howe & Rusling Inc.’s investment portfolio, making the stock its 12th largest position. Howe & Rusling Inc.’s holdings in PepsiCo were worth $9,940,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Highwater Wealth Management LLC purchased a new position in shares of PepsiCo during the 4th quarter valued at about $28,000. Horan Securities Inc. increased its stake in PepsiCo by 460.0% in the 4th quarter. Horan Securities Inc. now owns 280 shares of the company’s stock worth $30,000 after purchasing an additional 230 shares during the period. Financial Gravity Companies Inc. purchased a new position in PepsiCo in the 4th quarter worth approximately $41,000. Sound Income Strategies LLC increased its stake in PepsiCo by 50.8% in the 4th quarter. Sound Income Strategies LLC now owns 597 shares of the company’s stock worth $66,000 after purchasing an additional 201 shares during the period. Finally, Ayalon Holdings Ltd. purchased a new position in PepsiCo in the 4th quarter worth approximately $74,000. Institutional investors own 71.79% of the company’s stock.
In other PepsiCo news, CEO Vivek Sankaran sold 13,000 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $117.28, for a total transaction of $1,524,640.00. Following the sale, the chief executive officer now directly owns 90,379 shares in the company, valued at $10,599,649.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Ramon Laguarta sold 15,431 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $129.43, for a total value of $1,997,234.33. Following the sale, the chairman now owns 232,394 shares in the company, valued at $30,078,755.42. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,494 shares of company stock valued at $7,698,345. 0.28% of the stock is owned by corporate insiders.
NASDAQ:PEP traded up $1.02 during mid-day trading on Wednesday, hitting $130.07. 2,765,228 shares of the company traded hands, compared to its average volume of 4,947,987. PepsiCo, Inc. has a one year low of $99.61 and a one year high of $130.87. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.75 and a current ratio of 0.94. The firm has a market capitalization of $182.33 billion, a PE ratio of 22.98, a P/E/G ratio of 3.39 and a beta of 0.66.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, April 17th. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.05. The firm had revenue of $12.88 billion during the quarter, compared to analyst estimates of $12.68 billion. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.96 earnings per share. Equities analysts forecast that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a dividend of $0.955 per share. The ex-dividend date of this dividend is Thursday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $0.93. This represents a $3.82 dividend on an annualized basis and a yield of 2.94%. PepsiCo’s dividend payout ratio is presently 65.55%.
A number of equities research analysts have recently weighed in on the company. Argus reiterated a “buy” rating on shares of PepsiCo in a research report on Thursday, April 18th. Bank of America lifted their price objective on PepsiCo from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Morgan Stanley reiterated an “overweight” rating and issued a $137.00 price objective (up from $130.00) on shares of PepsiCo in a research report on Thursday, April 18th. Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $142.00 price objective on the stock in a research report on Tuesday, April 23rd. Finally, ValuEngine upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $124.65.
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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