Wills Financial Group Inc. lowered its stake in shares of PepsiCo Inc. (NYSE:PEP) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,529 shares of the company’s stock after selling 242 shares during the period. PepsiCo makes up 3.6% of Wills Financial Group Inc.’s portfolio, making the stock its 7th largest position. Wills Financial Group Inc.’s holdings in PepsiCo were worth $4,294,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ronna Sue Cohen boosted its stake in shares of PepsiCo by 0.3% in the first quarter. Ronna Sue Cohen now owns 7,199 shares of the company’s stock valued at $738,000 after buying an additional 23 shares in the last quarter. Hutner Daniel Ellsworth raised its stake in PepsiCo by 1.6% in the first quarter. Hutner Daniel Ellsworth now owns 63,091 shares of the company’s stock worth $6,466,000 after buying an additional 970 shares during the period. Kelman Lazarov Inc. purchased a new stake in PepsiCo during the first quarter worth $832,000. V Wealth Management LLC purchased a new stake in PepsiCo during the first quarter worth $669,000. Finally, Private Trust Co. NA raised its stake in PepsiCo by 44.6% in the first quarter. Private Trust Co. NA now owns 40,084 shares of the company’s stock worth $4,107,000 after buying an additional 12,367 shares during the period. 69.81% of the stock is owned by institutional investors and hedge funds.
PepsiCo Inc. (NYSE:PEP) traded down 0.39% on Friday, reaching $105.99. 4,398,433 shares of the company’s stock were exchanged. The company has a market capitalization of $152.01 billion, a P/E ratio of 23.25 and a beta of 0.46. The firm has a 50-day moving average price of $106.96 and a 200-day moving average price of $105.32. PepsiCo Inc. has a 1-year low of $93.25 and a 1-year high of $110.94.
PepsiCo (NYSE:PEP) last issued its earnings results on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.08. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. The business earned $16 billion during the quarter. During the same quarter in the previous year, the company posted $1.35 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Equities research analysts expect that PepsiCo Inc. will post $4.79 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend was Wednesday, August 31st. PepsiCo’s payout ratio is 66.01%.
PEP has been the topic of a number of recent analyst reports. Deutsche Bank AG upped their target price on shares of PepsiCo from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, July 8th. Jefferies Group restated a “buy” rating and issued a $124.00 target price (up from $119.00) on shares of PepsiCo in a research note on Wednesday, July 6th. Argus upped their target price on shares of PepsiCo from $116.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, July 13th. Zacks Investment Research upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research note on Tuesday, June 21st. Finally, Vetr upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 target price on the stock in a research note on Wednesday, September 7th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company’s stock. PepsiCo currently has an average rating of “Buy” and a consensus target price of $113.68.
In related news, EVP Mehmood Khan sold 51,137 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $107.30, for a total transaction of $5,487,000.10. Following the completion of the sale, the executive vice president now owns 164,464 shares in the company, valued at approximately $17,646,987.20. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Albert P. Carey sold 170,003 shares of the stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total transaction of $18,498,026.43. Following the sale, the chief executive officer now owns 306,138 shares of the company’s stock, valued at approximately $33,310,875.78. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.