Park Place Capital Corp Acquires 164 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Park Place Capital Corp boosted its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,770 shares of the company’s stock after acquiring an additional 164 shares during the quarter. Park Place Capital Corp’s holdings in PepsiCo were worth $835,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PEP. Charles Schwab Investment Management Inc. boosted its position in shares of PepsiCo by 3.1% during 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 during the last quarter. Norges Bank purchased a new position in PepsiCo during the 4th quarter worth $2,686,139,000. California Public Employees Retirement System grew its stake in shares of PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after acquiring an additional 1,470,064 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after purchasing an additional 1,345,065 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in PepsiCo by 15.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after purchasing an additional 1,105,127 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

PEP has been the topic of several recent analyst reports. Jefferies Financial Group lifted their target price 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. JPMorgan Chase & Co. boosted their price objective on PepsiCo from $181.00 to $184.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 26th. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research report on Monday, March 18th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Tuesday, April 23rd. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $186.38.

PepsiCo Trading Down 1.2 %

Shares of PEP stock opened at $162.89 on Tuesday. The stock has a market capitalization of $223.94 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 2.71 and a beta of 0.52. The company’s fifty day simple moving average is $173.37 and its two-hundred day simple moving average is $170.30. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $192.38. The company has a debt-to-equity ratio of 1.96, a current ratio of 0.86 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The business had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. During the same quarter last year, the company earned $1.50 EPS. The firm’s revenue was up 2.3% compared to the same quarter last year. As a group, analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were paid a $1.355 dividend. The ex-dividend date was Friday, June 7th. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.33%. PepsiCo’s dividend payout ratio is currently 81.50%.

Insider Buying and Selling at PepsiCo

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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.