Norris Perne & French LLP MI Buys 781 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Norris Perne & French LLP MI increased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 13.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,485 shares of the company’s stock after acquiring an additional 781 shares during the quarter. Norris Perne & French LLP MI’s holdings in PepsiCo were worth $1,135,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. LFA Lugano Financial Advisors SA increased its holdings in PepsiCo by 80.5% in the 4th quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after buying an additional 70 shares during the period. Fortis Group Advisors LLC boosted its stake in shares of PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares in the last quarter. Life Planning Partners Inc acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $34,000. Naples Money Management LLC acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $36,000. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of PepsiCo in the 4th quarter valued at approximately $39,000. 73.07% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PEP. JPMorgan Chase & Co. raised their price target on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday. BNP Paribas started coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Jefferies Financial Group lifted their target price on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Wedbush reiterated an “outperform” rating and set a $195.00 target price 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 given a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo presently has an average rating of “Hold” and a consensus target price of $186.38.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the business’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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is owned by insiders.

PepsiCo Stock Down 0.8 %

PEP stock traded down $1.33 during midday trading on Friday, reaching $164.93. 8,756,033 shares of the company’s stock traded hands, compared to its average volume of 5,392,291. The company has a market cap of $226.74 billion, a price-to-earnings ratio of 24.80, a P/E/G ratio of 2.73 and a beta of 0.52. The firm’s fifty day moving average price is $173.37 and its 200-day moving average price is $170.30. 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.

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, topping analysts’ consensus estimates 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 net margin of 10.00% and a return on equity of 57.37%. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.50 EPS. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a $1.355 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s payout ratio is 81.50%.

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.