PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Drexel Morgan & Co.

Drexel Morgan & Co. raised its position in PepsiCo, Inc. (NASDAQ:PEP) by 7.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,800 shares of the company’s stock after purchasing an additional 200 shares during the quarter. Drexel Morgan & Co.’s holdings in PepsiCo were worth $490,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. LFA Lugano Financial Advisors SA lifted its holdings in shares of PepsiCo by 80.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock worth $27,000 after acquiring an additional 70 shares during the last quarter. Valued Wealth Advisors LLC lifted its holdings in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares during the last quarter. Fortis Group Advisors LLC lifted its holdings in shares of PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares during the last quarter. Life Planning Partners Inc acquired a new position in shares of PepsiCo in the 4th quarter worth approximately $34,000. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of PepsiCo in the 1st quarter worth approximately $35,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Stock Performance

PEP stock traded up $1.79 during trading on Friday, hitting $164.39. 3,951,590 shares of the company’s stock traded hands, compared to its average volume of 5,470,685. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $192.38. The stock has a fifty day moving average price of $172.37 and a two-hundred day moving average price of $170.13. The stock has a market capitalization 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.

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

PepsiCo Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Jefferies Financial Group increased their price objective on shares of PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Wedbush reissued an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. increased their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research report on Wednesday, June 26th. Barclays dropped their target price on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. Finally, Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, PepsiCo has a consensus rating of “Moderate Buy” and an average price target of $186.64.

Insider Buying and Selling

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

PepsiCo Company 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.