SevenBridge Financial Group LLC Grows Stock Position in PepsiCo, Inc. (NASDAQ:PEP)



SevenBridge Financial Group LLC boosted its position in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 77.7% during the first quarter, Holdings Channel reports. The institutional investor owned 35,990 shares of the company’s stock after purchasing an additional 15,740 shares during the quarter. PepsiCo comprises approximately 2.1% of SevenBridge Financial Group LLC’s portfolio, making the stock its 8th largest holding. SevenBridge Financial Group LLC’s holdings in PepsiCo were worth $6,024,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capstone Triton Financial Group LLC increased its position in shares of PepsiCo by 22.1% during the 3rd quarter. Capstone Triton Financial Group LLC now owns 3,407 shares of the company’s stock worth $542,000 after purchasing an additional 617 shares during the last quarter. Studio Investment Management LLC acquired a new position in shares of PepsiCo during the 3rd quarter worth approximately $2,604,000. Willis Investment Counsel increased its position in shares of PepsiCo by 12.1% during the 3rd quarter. Willis Investment Counsel now owns 134,161 shares of the company’s stock worth $20,179,000 after purchasing an additional 14,468 shares during the last quarter. Wealthsource Partners LLC increased its position in shares of PepsiCo by 8.3% during the 3rd quarter. Wealthsource Partners LLC now owns 11,386 shares of the company’s stock worth $1,713,000 after purchasing an additional 868 shares during the last quarter. Finally, EP Wealth Advisors LLC increased its position in shares of PepsiCo by 6.0% during the 3rd quarter. EP Wealth Advisors LLC now owns 231,094 shares of the company’s stock worth $34,759,000 after purchasing an additional 13,182 shares during the last quarter. 72.12% of the stock is currently owned by institutional investors and hedge funds.

PEP opened at $166.13 on Monday. The business has a fifty day simple moving average of $166.74 and a 200 day simple moving average of $167.98. The company has a market capitalization of $229.71 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 3.30 and a beta of 0.59. PepsiCo, Inc. has a 1 year low of $145.24 and a 1 year high of $177.62. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.87 and a quick ratio of 0.68.

PepsiCo (NASDAQ:PEP – Get Rating) last released its earnings results on Tuesday, April 26th. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.05. The firm had revenue of $16.20 billion during the quarter, compared to the consensus estimate of $15.54 billion. PepsiCo had a return on equity of 53.44% and a net margin of 12.57%. The company’s revenue was up 9.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. Equities analysts anticipate that PepsiCo, Inc. will post 6.64 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Stockholders of record on Friday, June 3rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annual basis and a dividend yield of 2.77%. This is an increase from PepsiCo’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Thursday, June 2nd. PepsiCo’s dividend payout ratio is presently 62.93%.

In other news, CEO Eugene Willemsen sold 4,560 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $175.61, for a total transaction of $800,781.60. Following the completion of the transaction, the chief executive officer now owns 8,277 shares of the company’s stock, valued at approximately $1,453,523.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP David Flavell sold 5,150 shares of the business’s stock in a transaction on Monday, May 16th. The stock was sold at an average price of $175.11, for a total value of $901,816.50. Following the transaction, the executive vice president now directly owns 28,275 shares of the company’s stock, valued at approximately $4,951,235.25. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

A number of research analysts recently weighed in on the company. Citigroup boosted their target price on PepsiCo from $194.00 to $198.00 in a report on Wednesday, April 27th. Wells Fargo & Company decreased their target price on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 21st. StockNews.com assumed coverage on PepsiCo in a report on Thursday, March 31st. They set a “buy” rating on the stock. Guggenheim boosted their target price on PepsiCo from $188.00 to $193.00 in a report on Wednesday, April 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on PepsiCo from $173.00 to $175.00 in a report on Wednesday, April 27th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $177.13.

About PepsiCo (Get Rating)

PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)



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