Douglas Lane & Associates LLC Purchases 10,920 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Douglas Lane & Associates LLC increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 149,315 shares of the company’s stock after buying an additional 10,920 shares during the quarter. Douglas Lane & Associates LLC’s holdings in PepsiCo were worth $26,132,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Kayne Anderson Rudnick Investment Management LLC lifted its position in shares of PepsiCo by 0.9% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 265,572 shares of the company’s stock worth $44,999,000 after purchasing an additional 2,418 shares during the last quarter. Personal CFO Solutions LLC lifted its position in shares of PepsiCo by 1.4% during the third quarter. Personal CFO Solutions LLC now owns 5,870 shares of the company’s stock worth $995,000 after purchasing an additional 79 shares during the last quarter. Jacobi Capital Management LLC lifted its position in shares of PepsiCo by 1.0% during the third quarter. Jacobi Capital Management LLC now owns 17,173 shares of the company’s stock worth $2,910,000 after purchasing an additional 167 shares during the last quarter. Natixis Advisors L.P. lifted its position in shares of PepsiCo by 2.1% during the third quarter. Natixis Advisors L.P. now owns 960,684 shares of the company’s stock worth $162,778,000 after purchasing an additional 19,671 shares during the last quarter. Finally, GSB Wealth Management LLC lifted its position in shares of PepsiCo by 0.5% during the third quarter. GSB Wealth Management LLC now owns 17,436 shares of the company’s stock worth $2,954,000 after purchasing an additional 95 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.4 %

Shares of NASDAQ:PEP opened at $167.28 on Monday. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $192.38. The company has a market capitalization of $229.97 billion, a PE ratio of 25.15, a PEG ratio of 2.72 and a beta of 0.52. The business has a 50 day moving average of $173.71 and a two-hundred day moving average of $170.36. The company has a current ratio of 0.86, a quick ratio of 0.68 and a debt-to-equity ratio of 1.96.

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

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.24%. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date is Friday, June 7th. PepsiCo’s payout ratio is presently 81.50%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PEP. Jefferies Financial Group raised their price target on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a research note on Monday, March 18th. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Wedbush reiterated an “outperform” rating and issued a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their target price on PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $187.17.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by company insiders.

About PepsiCo

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.