PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 9.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,887,532 shares of the company’s stock after selling 862,910 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.57% of PepsiCo worth $1,380,398,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PEP. Kestra Advisory Services LLC boosted its stake in PepsiCo by 9.2% in the 1st quarter. Kestra Advisory Services LLC now owns 177,893 shares of the company’s stock worth $31,148,000 after purchasing an additional 15,024 shares during the period. Steel Grove Capital Advisors LLC boosted its stake in PepsiCo by 18.9% in the 1st quarter. Steel Grove Capital Advisors LLC now owns 2,944 shares of the company’s stock worth $515,000 after purchasing an additional 467 shares during the period. Bank of Nova Scotia Trust Co. boosted its stake in PepsiCo by 19.4% in the 1st quarter. Bank of Nova Scotia Trust Co. now owns 7,864 shares of the company’s stock worth $1,376,000 after purchasing an additional 1,278 shares during the period. LRI Investments LLC acquired a new position in PepsiCo in the 1st quarter worth approximately $911,000. Finally, Stonebridge Capital Advisors LLC boosted its stake in shares of PepsiCo by 1.5% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 12,198 shares of the company’s stock valued at $2,135,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Wells Fargo & Company cut their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Bank of America cut their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, BNP Paribas assumed coverage on shares of PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $185.53.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.15% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ:PEP traded up $1.73 on Friday, hitting $172.75. 5,746,255 shares of the company were exchanged, compared to its average volume of 5,470,916. The company’s 50 day moving average price is $168.72 and its two-hundred day moving average price is $169.87. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $192.29. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm has a market capitalization of $237.28 billion, a price-to-earnings ratio of 25.07, a PEG ratio of 2.99 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The business’s revenue was up .8% compared to the same quarter last year. Research analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.14%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods 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.