EFG Asset Management Americas Corp. Buys 49,586 Shares of PepsiCo, Inc. (NASDAQ:PEP)

EFG Asset Management Americas Corp. grew its stake in PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 969.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,703 shares of the company’s stock after purchasing an additional 49,586 shares during the quarter. PepsiCo makes up approximately 2.2% of EFG Asset Management Americas Corp.’s holdings, making the stock its 10th biggest holding. EFG Asset Management Americas Corp.’s holdings in PepsiCo were worth $9,137,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PEP. Cordant Inc. bought a new stake in shares of PepsiCo during the 1st quarter valued at about $27,000. Landmark Wealth Management LLC bought a new stake in shares of PepsiCo during the 1st quarter valued at about $29,000. Strategic Asset Management LLC grew its position in PepsiCo by 53.3% in the 1st quarter. Strategic Asset Management LLC now owns 276 shares of the company’s stock worth $46,000 after purchasing an additional 96 shares during the last quarter. Retirement Group LLC grew its position in PepsiCo by 100.0% in the 1st quarter. Retirement Group LLC now owns 322 shares of the company’s stock worth $54,000 after purchasing an additional 161 shares during the last quarter. Finally, Lansing Street Advisors bought a new position in PepsiCo in the 1st quarter worth about $58,000. Institutional investors and hedge funds own 71.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 21st. Barclays decreased their target price on shares of PepsiCo from $187.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. JPMorgan Chase & Co. decreased their target price on shares of PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Credit Suisse Group increased their price objective on shares of PepsiCo from $168.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. Finally, UBS Group decreased their price objective on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $182.00.

PepsiCo Stock Up 0.1 %

PEP stock opened at $168.60 on Friday. PepsiCo, Inc. has a 12 month low of $149.48 and a 12 month high of $181.07. The firm has a market cap of $232.65 billion, a PE ratio of 25.39, a P/E/G ratio of 3.30 and a beta of 0.55. The firm has a 50 day simple moving average of $173.32 and a 200 day simple moving average of $170.45. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEPGet Rating) last released its earnings results on Tuesday, July 12th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.73 by $0.13. PepsiCo had a net margin of 11.28% and a return on equity of 52.01%. The business had revenue of $20.23 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period in the prior year, the business earned $1.72 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Equities research analysts forecast that PepsiCo, Inc. will post 6.66 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be given a $1.15 dividend. The ex-dividend date is Thursday, September 1st. This represents a $4.60 annualized dividend and a dividend yield of 2.73%. PepsiCo’s dividend payout ratio (DPR) is presently 69.28%.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 3,433 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $174.83, for a total value of $600,191.39. Following the completion of the sale, the chief executive officer now owns 50,577 shares in the company, valued at approximately $8,842,376.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other PepsiCo news, CEO Steven C. Williams sold 1,753 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $171.18, for a total value of $300,078.54. Following the transaction, the chief executive officer now owns 70,892 shares in the company, valued at approximately $12,135,292.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ramkumar Krishnan sold 3,433 shares of the company’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $174.83, for a total transaction of $600,191.39. Following the completion of the transaction, the chief executive officer now owns 50,577 shares in the company, valued at approximately $8,842,376.91. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

About PepsiCo

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PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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