Legacy Financial Group LLC Acquires Shares of 1,418 PepsiCo, Inc. (NASDAQ:PEP)

Legacy Financial Group LLC acquired a new stake in PepsiCo, Inc. (NASDAQ:PEPFree Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,418 shares of the company’s stock, valued at approximately $248,000.

Several other hedge funds also recently modified their holdings of the stock. Selway Asset Management boosted its position in shares of PepsiCo by 51.2% during the first quarter. Selway Asset Management now owns 23,372 shares of the company’s stock valued at $4,090,000 after buying an additional 7,910 shares during the last quarter. American National Bank boosted its position in shares of PepsiCo by 5.7% during the first quarter. American National Bank now owns 31,543 shares of the company’s stock valued at $5,520,000 after buying an additional 1,693 shares during the last quarter. Lantz Financial LLC boosted its position in shares of PepsiCo by 0.7% during the first quarter. Lantz Financial LLC now owns 12,419 shares of the company’s stock valued at $2,173,000 after buying an additional 90 shares during the last quarter. First National Bank of Mount Dora Trust Investment Services boosted its position in shares of PepsiCo by 2.5% during the first quarter. First National Bank of Mount Dora Trust Investment Services now owns 3,500 shares of the company’s stock valued at $613,000 after buying an additional 87 shares during the last quarter. Finally, St. Louis Financial Planners Asset Management LLC purchased a new position in shares of PepsiCo during the first quarter valued at approximately $1,821,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 5,620 shares of the firm’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 sale, the chief executive officer now owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

PEP has been the topic of several research analyst reports. Barclays cut their price objective on PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 12th. JPMorgan Chase & Co. boosted their price objective on PepsiCo from $178.00 to $181.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Morgan Stanley raised PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price objective on the stock in a research report on Monday, March 18th. Argus cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Jefferies Financial Group boosted their price objective on PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $187.17.

Read Our Latest Stock Report on PepsiCo

PepsiCo Price Performance

PEP traded up $0.60 during trading on Friday, reaching $167.28. 10,899,173 shares of the company were exchanged, compared to its average volume of 5,526,777. The company’s 50-day moving average is $173.73 and its two-hundred day moving average is $170.33. The company has a market cap of $229.97 billion, a price-to-earnings 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 issued 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 business had revenue of $18.25 billion for the quarter, compared to analysts’ expectations of $18.08 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.00%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.50 EPS. Research analysts forecast 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. Investors of record on Friday, June 7th will be issued 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 dividend payout ratio is 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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