BerganKDV Wealth Management LLC Increases Stake in Pepsico, Inc. (PEP)
BerganKDV Wealth Management LLC grew its stake in shares of Pepsico, Inc. (NYSE:PEP) by 3.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,299 shares of the company’s stock after buying an additional 504 shares during the period. BerganKDV Wealth Management LLC’s holdings in Pepsico were worth $1,705,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parsec Financial Management Inc. boosted its position in Pepsico by 2.7% during the 1st quarter. Parsec Financial Management Inc. now owns 183,302 shares of the company’s stock worth $20,504,000 after purchasing an additional 4,823 shares during the period. QV Investors Inc. boosted its position in Pepsico by 18.4% during the 1st quarter. QV Investors Inc. now owns 37,420 shares of the company’s stock worth $4,185,000 after purchasing an additional 5,810 shares during the period. State of New Jersey Common Pension Fund D boosted its position in Pepsico by 73.1% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,539,600 shares of the company’s stock worth $172,220,000 after purchasing an additional 650,000 shares during the period. Russell Investments Group Ltd. boosted its position in Pepsico by 14.6% during the 1st quarter. Russell Investments Group Ltd. now owns 3,881,793 shares of the company’s stock worth $434,310,000 after purchasing an additional 495,542 shares during the period. Finally, Taylor Cottrill Erickson & Associates Inc. lifted its holdings in Pepsico by 3.6% in the 1st quarter. Taylor Cottrill Erickson & Associates Inc. now owns 5,222 shares of the company’s stock worth $584,000 after buying an additional 183 shares in the last quarter. 70.08% of the stock is owned by institutional investors.
A number of brokerages have commented on PEP. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Tuesday, August 22nd. Deutsche Bank began coverage on shares of Pepsico in a report on Wednesday, December 13th. They issued a “buy” rating and a $132.00 price objective on the stock. Credit Suisse Group lowered shares of Pepsico from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $126.00 to $124.00 in a report on Friday, September 8th. Royal Bank of Canada reiterated a “hold” rating and issued a $115.00 price objective on shares of Pepsico in a report on Wednesday, September 6th. Finally, BidaskClub lowered shares of Pepsico from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $122.73.
Pepsico (NYSE:PEP) last issued its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. The business had revenue of $16.24 billion for the quarter, compared to analyst estimates of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.40 EPS. sell-side analysts forecast that Pepsico, Inc. will post 5.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be paid a $0.805 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.71%. Pepsico’s dividend payout ratio (DPR) is presently 66.53%.
In other news, insider Ramon Laguarta sold 21,449 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.
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PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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