PepsiCo, Inc. (NASDAQ:PEP) Shares Acquired by Red Door Wealth Management LLC

Red Door Wealth Management LLC increased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 28,275 shares of the company’s stock after acquiring an additional 2,012 shares during the quarter. Red Door Wealth Management LLC’s holdings in PepsiCo were worth $4,948,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PEP. Norges Bank purchased a new position in shares of PepsiCo during the fourth quarter valued at $2,686,139,000. International Assets Investment Management LLC grew its holdings in shares of PepsiCo by 9,623.6% during the fourth quarter. International Assets Investment Management LLC now owns 3,058,061 shares of the company’s stock valued at $519,381,000 after buying an additional 3,026,611 shares in the last quarter. Flossbach Von Storch AG grew its holdings in shares of PepsiCo by 121.4% during the fourth quarter. Flossbach Von Storch AG now owns 2,727,622 shares of the company’s stock valued at $463,259,000 after buying an additional 1,495,586 shares in the last quarter. California Public Employees Retirement System grew its stake in PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after purchasing an additional 1,470,064 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in PepsiCo by 17.7% in the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after purchasing an additional 1,345,065 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PepsiCo

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the business’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 transaction, the chief executive officer now directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of recent research reports. BNP Paribas initiated coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price on the stock. Barclays lowered their target price on PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Jefferies Financial Group boosted their target price on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. Argus downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Wedbush reaffirmed an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research report on Tuesday, April 23rd. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $186.38.

PepsiCo Price Performance

NASDAQ PEP opened at $164.93 on Monday. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $192.38. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.68 and a current ratio of 0.86. The stock has a market capitalization of $226.74 billion, a PE ratio of 24.80, a P/E/G ratio of 2.71 and a beta of 0.52. The stock has a 50-day simple moving average of $173.37 and a 200 day simple moving average of $170.30.

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

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.29%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date was Friday, June 7th. PepsiCo’s payout ratio is currently 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.