Tarbox Family Office Inc. trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 69.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,884 shares of the company’s stock after selling 4,321 shares during the period. Tarbox Family Office Inc.’s holdings in PepsiCo were worth $247,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Laurel Wealth Advisors Inc. increased its holdings in PepsiCo by 1.3% during the first quarter. Laurel Wealth Advisors Inc. now owns 23,826 shares of the company’s stock valued at $2,920,000 after buying an additional 296 shares during the last quarter. Lau Associates LLC boosted its position in shares of PepsiCo by 7.6% in the fourth quarter. Lau Associates LLC now owns 57,455 shares of the company’s stock worth $6,348,000 after purchasing an additional 4,035 shares during the period. AE Wealth Management LLC boosted its position in shares of PepsiCo by 72.6% in the second quarter. AE Wealth Management LLC now owns 64,904 shares of the company’s stock worth $8,511,000 after purchasing an additional 27,302 shares during the period. CenturyLink Investment Management Co boosted its position in shares of PepsiCo by 41.5% in the second quarter. CenturyLink Investment Management Co now owns 17,769 shares of the company’s stock worth $2,330,000 after purchasing an additional 5,209 shares during the period. Finally, Dixon Hubard Feinour & Brown Inc. VA boosted its position in shares of PepsiCo by 0.8% in the first quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 26,334 shares of the company’s stock worth $3,227,000 after purchasing an additional 207 shares during the period. 71.26% of the stock is owned by hedge funds and other institutional investors.
PEP has been the subject of a number of recent analyst reports. Goldman Sachs Group set a $132.00 price target on shares of PepsiCo and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Jefferies Financial Group upped their price target on shares of PepsiCo from $123.00 to $134.00 and gave the stock a “hold” rating in a research report on Wednesday, July 10th. Atlantic Securities initiated coverage on shares of PepsiCo in a research report on Monday, July 29th. They issued an “overweight” rating and a $145.00 price target for the company. Royal Bank of Canada set a $115.00 price target on shares of PepsiCo and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Finally, BMO Capital Markets reiterated an “average” rating and issued a $128.00 price target on shares of PepsiCo in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $129.35.
PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.05. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The firm had revenue of $16.45 billion during the quarter, compared to analyst estimates of $16.44 billion. During the same quarter in the prior year, the business earned $1.61 earnings per share. PepsiCo’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, sell-side analysts expect that PepsiCo, Inc. will post 5.51 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.955 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.90%. PepsiCo’s dividend payout ratio is 67.49%.
In related news, CEO Kirk Tanner sold 9,573 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Steven C. Williams sold 2,420 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $133.95, for a total transaction of $324,159.00. Following the transaction, the chief executive officer now owns 54,920 shares of the company’s stock, valued at approximately $7,356,534. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.
PepsiCo Company Profile
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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