SteelPeak Wealth LLC Has $1.66 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

SteelPeak Wealth LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% during the 1st quarter, Holdings Channel reports. The firm owned 9,402 shares of the company’s stock after selling 173 shares during the quarter. SteelPeak Wealth LLC’s holdings in PepsiCo were worth $1,659,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PEP. Charles Schwab Investment Management Inc. increased its stake in shares of PepsiCo by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after buying an additional 578,083 shares in the last quarter. Norges Bank acquired a new position in shares of PepsiCo during the fourth quarter worth approximately $2,686,139,000. California Public Employees Retirement System grew its stake in shares of PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after purchasing an additional 1,470,064 shares during the last quarter. Franklin Resources Inc. raised its position in PepsiCo by 17.7% in the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in PepsiCo by 15.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after buying an additional 1,105,127 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Insider Transactions 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 transaction of $1,000,360.00. Following the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on PEP. JPMorgan Chase & Co. boosted their target price on PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 26th. Wedbush restated an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a research report on Tuesday, April 23rd. Jefferies Financial Group lifted their price target on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research note on Monday, March 18th. Finally, Barclays dropped their target price on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $186.38.

PepsiCo Stock Down 0.8 %

PepsiCo stock opened at $164.93 on Monday. The company has a 50 day moving average of $173.37 and a 200-day moving average of $170.30. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38. The stock has a market capitalization of $226.74 billion, a PE ratio of 24.80, a price-to-earnings-growth ratio of 2.71 and a beta of 0.52.

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

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were paid a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.29%. The ex-dividend date was Friday, June 7th. PepsiCo’s dividend payout ratio (DPR) is currently 81.50%.

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.