Selway Asset Management Purchases 7,910 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Selway Asset Management lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEPFree Report) by 51.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 23,372 shares of the company’s stock after purchasing an additional 7,910 shares during the quarter. PepsiCo accounts for about 1.6% of Selway Asset Management’s holdings, making the stock its 19th largest holding. Selway Asset Management’s holdings in PepsiCo were worth $4,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of PepsiCo in the fourth quarter worth about $2,686,139,000. International Assets Investment Management LLC lifted its position in PepsiCo by 9,623.6% in 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 purchasing an additional 3,026,611 shares during the last quarter. Flossbach Von Storch AG boosted its stake 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 purchasing an additional 1,495,586 shares during the period. California Public Employees Retirement System grew its holdings in shares of PepsiCo by 17.9% in the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after purchasing an additional 1,470,064 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after buying an additional 1,345,065 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Up 0.4 %

Shares of PEP stock traded up $0.60 during mid-day trading on Friday, reaching $167.28. 10,899,173 shares of the company’s stock traded hands, compared to its average volume of 5,526,777. The company’s 50-day moving average price is $173.73 and its 200-day moving average price is $170.33. The company has a market cap of $229.97 billion, a P/E ratio of 25.06, a P/E/G ratio of 2.72 and a beta of 0.52. 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 12 month low of $155.83 and a 12 month high of $192.38.

PepsiCo (NASDAQ:PEPGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The business had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same quarter in the previous year, the firm posted $1.50 earnings per share. PepsiCo’s quarterly revenue was up 2.3% on a year-over-year basis. On average, equities analysts expect that PepsiCo, Inc. will post 8.16 earnings per share for the current fiscal year.

PepsiCo Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date is Friday, June 7th. This represents a $5.42 dividend on an annualized basis and a yield of 3.24%. PepsiCo’s payout ratio is presently 81.50%.

Insiders Place Their Bets

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the sale, 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 accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley raised shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a report on Monday, March 18th. JPMorgan Chase & Co. raised their target price on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Wedbush reiterated an “outperform” rating and issued a $195.00 price objective on shares of PepsiCo in a report on Tuesday, April 23rd. Barclays reduced 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. Finally, Jefferies Financial Group raised their price target on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, PepsiCo presently has a consensus rating of “Moderate Buy” and an average target price of $187.17.

Read Our Latest Stock Analysis on PEP

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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