PepsiCo, Inc. (NASDAQ:PEP) Holdings Raised by West Coast Financial LLC

West Coast Financial LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEPFree Report) by 0.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,232 shares of the company’s stock after buying an additional 278 shares during the quarter. PepsiCo comprises approximately 1.8% of West Coast Financial LLC’s holdings, making the stock its 11th largest position. West Coast Financial LLC’s holdings in PepsiCo were worth $14,917,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its stake in PepsiCo by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock worth $3,227,287,000 after buying an additional 578,083 shares during the last quarter. Norges Bank acquired a new position in PepsiCo during the 4th quarter worth $2,686,139,000. California Public Employees Retirement System boosted its position in PepsiCo by 17.9% during the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after acquiring an additional 1,470,064 shares during the period. Franklin Resources Inc. boosted its position in PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after acquiring an additional 1,345,065 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in PepsiCo by 15.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after acquiring an additional 1,105,127 shares during the period. 73.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PEP. Argus lowered PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Barclays reduced their price target on PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Wedbush restated an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. Jefferies Financial Group upped their price objective on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Finally, Morgan Stanley upgraded PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective for the company in a report on Monday, March 18th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $186.15.

Get Our Latest Analysis on PepsiCo

Insiders Place Their Bets

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was 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 SEC, which is accessible through the SEC website. Insiders own 0.14% of the company’s stock.

PepsiCo Stock Down 0.1 %

NASDAQ:PEP traded down $0.20 during trading hours on Tuesday, hitting $167.88. 1,825,815 shares of the company’s stock traded hands, compared to its average volume of 5,487,621. The firm has a market cap of $230.80 billion, a P/E ratio of 25.28, a P/E/G ratio of 2.73 and a beta of 0.52. 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’s fifty day moving average price is $173.73 and its two-hundred day moving average price is $170.36.

PepsiCo (NASDAQ:PEPGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share for the quarter, beating 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 firm had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same period in the previous year, the firm earned $1.50 earnings per share. PepsiCo’s quarterly revenue was up 2.3% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $1.355 dividend. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.23%. The ex-dividend date is Friday, June 7th. PepsiCo’s dividend payout ratio is presently 81.50%.

About PepsiCo

(Free Report)

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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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