PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Perkins Coie Trust Co

Perkins Coie Trust Co lifted its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,203 shares of the company’s stock after buying an additional 445 shares during the quarter. PepsiCo makes up about 1.4% of Perkins Coie Trust Co’s investment portfolio, making the stock its 18th largest holding. Perkins Coie Trust Co’s holdings in PepsiCo were worth $5,986,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC boosted its holdings in PepsiCo by 59.4% in the fourth quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock worth $168,747,000 after purchasing an additional 370,122 shares during the period. Harbour Capital Advisors LLC lifted its stake in PepsiCo by 0.4% in the fourth quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock valued at $4,747,000 after buying an additional 102 shares during the last quarter. Meadow Creek Wealth Advisors LLC bought a new stake in PepsiCo in the fourth quarter valued at $405,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in PepsiCo by 34.5% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock valued at $2,091,000 after buying an additional 3,159 shares during the last quarter. Finally, Marion Wealth Management lifted its stake in PepsiCo by 31.7% in the fourth quarter. Marion Wealth Management now owns 7,888 shares of the company’s stock valued at $1,340,000 after buying an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PEP. BNP Paribas began coverage on PepsiCo in a research note on Monday. They issued a “neutral” rating and a $174.00 target price on the stock. Wedbush restated an “outperform” rating and set a $195.00 price objective on shares of PepsiCo in a research note on Tuesday, April 23rd. Barclays cut their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Argus cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus target price of $186.15.

PepsiCo Price Performance

PEP stock opened at $168.08 on Tuesday. The firm has a 50-day moving average of $173.73 and a two-hundred day moving average of $170.36. The firm has a market capitalization of $231.07 billion, a PE ratio of 25.28, a P/E/G ratio of 2.73 and a beta of 0.52. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $192.38.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same quarter last year, the business posted $1.50 EPS. The company’s revenue was up 2.3% on a year-over-year basis. On average, analysts forecast that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be paid a $1.355 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.22%. The ex-dividend date is Friday, June 7th. PepsiCo’s dividend payout ratio is currently 81.50%.

Insiders Place Their Bets

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

PepsiCo Company Profile

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.