Opal Wealth Advisors LLC Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Opal Wealth Advisors LLC lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,321 shares of the company’s stock after selling 83 shares during the quarter. Opal Wealth Advisors LLC’s holdings in PepsiCo were worth $221,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in PepsiCo by 5.5% in the fourth quarter. BlackRock Inc. now owns 105,501,759 shares of the company’s stock valued at $18,326,710,000 after purchasing an additional 5,454,097 shares during the period. State Street Corp lifted its position in PepsiCo by 1.3% in the fourth quarter. State Street Corp now owns 58,904,562 shares of the company’s stock valued at $10,293,622,000 after purchasing an additional 763,595 shares during the period. Geode Capital Management LLC lifted its position in shares of PepsiCo by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 23,137,438 shares of the company’s stock valued at $4,008,329,000 after acquiring an additional 585,018 shares during the period. Capital Research Global Investors lifted its position in shares of PepsiCo by 9.6% during the 4th quarter. Capital Research Global Investors now owns 18,698,968 shares of the company’s stock valued at $3,248,196,000 after acquiring an additional 1,634,702 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PepsiCo by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,837,497 shares of the company’s stock valued at $2,403,712,000 after acquiring an additional 93,169 shares during the period. Institutional investors and hedge funds own 72.12% of the company’s stock.

PepsiCo Stock Performance

NASDAQ:PEP traded down $2.42 during midday trading on Friday, reaching $173.45. The stock had a trading volume of 151,796 shares, compared to its average volume of 4,064,957. PepsiCo, Inc. has a 1-year low of $149.48 and a 1-year high of $177.69. The firm’s fifty day simple moving average is $167.60 and its 200-day simple moving average is $169.49. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.83 and a quick ratio of 0.64. The stock has a market capitalization of $239.35 billion, a P/E ratio of 26.05, a PEG ratio of 3.47 and a beta of 0.55.

PepsiCo (NASDAQ:PEPGet Rating) last issued its quarterly earnings results on Tuesday, July 12th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.73 by $0.13. PepsiCo had a net margin of 11.28% and a return on equity of 52.01%. The firm had revenue of $20.23 billion during the quarter, compared to the consensus estimate of $19.51 billion. During the same period in the prior year, the firm earned $1.72 EPS. The business’s revenue was up 5.2% on a year-over-year basis. On average, equities research analysts forecast that PepsiCo, Inc. will post 6.65 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Thursday, September 1st. PepsiCo’s payout ratio is 69.28%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 21st. Guggenheim boosted their price objective on shares of PepsiCo from $188.00 to $193.00 in a research note on Wednesday, April 27th. UBS Group reduced their target price on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Tuesday, June 21st. Citigroup boosted their price objective on shares of PepsiCo from $194.00 to $198.00 in a report on Wednesday, April 27th. Finally, Credit Suisse Group boosted their price objective on shares of PepsiCo from $168.00 to $170.00 and gave the stock a “neutral” rating in a report on Wednesday, July 13th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.00.

Insider Transactions at PepsiCo

In other news, EVP David Flavell sold 5,150 shares of the firm’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $175.11, for a total transaction of $901,816.50. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Ramkumar Krishnan sold 3,433 shares of PepsiCo stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $174.83, for a total transaction of $600,191.39. Following the completion of the transaction, the chief executive officer now directly owns 50,577 shares of the company’s stock, valued at approximately $8,842,376.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Flavell sold 5,150 shares of PepsiCo stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $175.11, for a total transaction of $901,816.50. Following the transaction, the executive vice president now directly owns 28,275 shares of the company’s stock, valued at $4,951,235.25. The disclosure for this sale can be found here. In the last three months, insiders sold 14,896 shares of company stock valued at $2,602,868. Company insiders own 0.12% of the company’s stock.

PepsiCo Company Profile

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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.

See Also

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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