Hartline Investment Corp Invests $2.07 Million in PepsiCo, Inc. (NASDAQ:PEP)

Hartline Investment Corp acquired a new position in PepsiCo, Inc. (NASDAQ:PEP) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 11,797 shares of the company’s stock, valued at approximately $2,065,000.

Several other institutional investors have also recently modified their holdings of the company. Capital Advisors Ltd. LLC raised its position in PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after acquiring an additional 139 shares in the last quarter. Cerity Partners LLC raised its position in PepsiCo by 59.4% during the fourth quarter. Cerity Partners LLC now owns 993,567 shares of the company’s stock valued at $168,747,000 after acquiring an additional 370,122 shares in the last quarter. Harbour Capital Advisors LLC raised its position in PepsiCo by 0.4% during the fourth quarter. Harbour Capital Advisors LLC now owns 27,446 shares of the company’s stock valued at $4,747,000 after acquiring an additional 102 shares in the last quarter. Meadow Creek Wealth Advisors LLC purchased a new position in PepsiCo during the fourth quarter valued at approximately $405,000. Finally, Householder Group Estate & Retirement Specialist LLC raised its position in PepsiCo by 34.5% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 12,317 shares of the company’s stock valued at $2,091,000 after acquiring an additional 3,159 shares in the last quarter. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PEP has been the topic of several research analyst reports. BNP Paribas initiated coverage on PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a report on Wednesday, June 26th. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, April 3rd. Wedbush reissued an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group lifted their price target on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $186.64.

Insiders Place Their Bets

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the sale, the chief executive officer now owns 53,953 shares in the company, valued at approximately $9,603,634. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

PepsiCo Trading Up 1.1 %

NASDAQ:PEP traded up $1.79 on Friday, reaching $164.39. The company’s stock had a trading volume of 3,951,590 shares, compared to its average volume of 5,470,685. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $192.38. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The firm has a market cap of $226.00 billion, a price-to-earnings ratio of 24.58, a price-to-earnings-growth ratio of 2.67 and a beta of 0.52. The stock has a 50 day moving average price of $172.37 and a 200 day moving average price of $170.13.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.52 by $0.09. The firm had revenue of $18.25 billion for the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.50 EPS. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 7th were issued a dividend of $1.355 per share. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date was Friday, June 7th. This represents a $5.42 annualized dividend and a yield of 3.30%. PepsiCo’s dividend payout ratio is 81.50%.

PepsiCo Profile

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of 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.