Pennsylvania Trust Co Raises Stake in PepsiCo, Inc. (NASDAQ:PEP)
Pennsylvania Trust Co increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 285,552 shares of the company’s stock after buying an additional 3,197 shares during the quarter. PepsiCo accounts for approximately 1.6% of Pennsylvania Trust Co’s portfolio, making the stock its 12th largest holding. Pennsylvania Trust Co’s holdings in PepsiCo were worth $39,149,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of PEP. Personal Wealth Partners purchased a new stake in PepsiCo during the second quarter valued at about $25,000. Krane Funds Advisors LLC purchased a new stake in PepsiCo during the second quarter valued at about $25,000. Evolution Wealth Advisors LLC purchased a new stake in PepsiCo during the second quarter valued at about $27,000. Financial Advantage Inc. purchased a new stake in PepsiCo during the second quarter valued at about $28,000. Finally, Mackey Komara & Dankovich LLC lifted its holdings in PepsiCo by 199.0% during the second quarter. Mackey Komara & Dankovich LLC now owns 858 shares of the company’s stock valued at $38,000 after purchasing an additional 571 shares during the last quarter. 71.46% of the stock is currently owned by institutional investors.
In related news, CEO Steven C. Williams sold 2,420 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total value of $324,159.00. Following the transaction, the chief executive officer now directly owns 54,920 shares in the company, valued at $7,356,534. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kirk Tanner sold 9,573 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the transaction, the chief executive officer now owns 105,350 shares in the company, valued at $13,500,602.50. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $1.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.06. The company had revenue of $17.19 billion for the quarter, compared to analysts’ expectations of $16.93 billion. PepsiCo had a net margin of 18.78% and a return on equity of 55.00%. PepsiCo’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.59 earnings per share. Sell-side analysts forecast that PepsiCo, Inc. will post 5.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were given a $0.955 dividend. This represents a $3.82 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Thursday, September 5th. PepsiCo’s dividend payout ratio (DPR) is 67.49%.
PEP has been the topic of several recent research reports. Citigroup upped their price objective on shares of PepsiCo from $139.00 to $143.00 and gave the company a “neutral” rating in a report on Friday, October 4th. JPMorgan Chase & Co. set a $154.00 price target on PepsiCo and gave the company a “buy” rating in a research report on Thursday, October 3rd. Jefferies Financial Group upped their price target on PepsiCo from $123.00 to $134.00 and gave the company a “hold” rating in a research report on Wednesday, July 10th. Atlantic Securities initiated coverage on PepsiCo in a research report on Monday, July 29th. They set an “overweight” rating and a $145.00 price target on the stock. Finally, BMO Capital Markets reiterated a “market perform” rating and set a $133.00 price target (up from $128.00) on shares of PepsiCo in a research report on Friday, October 4th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $135.53.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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