Confluence Investment Management LLC Invests $166.24 Million in PepsiCo, Inc. (NASDAQ:PEP)

Confluence Investment Management LLC purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 949,904 shares of the company’s stock, valued at approximately $166,243,000. PepsiCo comprises approximately 2.2% of Confluence Investment Management LLC’s holdings, making the stock its 6th biggest holding.

Other large investors also recently modified their holdings of the company. LFA Lugano Financial Advisors SA increased its position in shares of PepsiCo by 80.5% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 157 shares of the company’s stock valued at $27,000 after purchasing an additional 70 shares during the period. Fortis Group Advisors LLC increased its position in shares of PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares during the period. Life Planning Partners Inc bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $34,000. Naples Money Management LLC bought a new stake in shares of PepsiCo during the fourth quarter valued at approximately $36,000. Finally, Criterion Capital Advisors LLC bought a new stake in PepsiCo in the fourth quarter valued at $39,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $178.00, for a total transaction of $1,000,360.00. Following the transaction, the chief executive officer now owns 53,953 shares of the company’s stock, valued at $9,603,634. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

PepsiCo Price Performance

Shares of PEP stock opened at $166.48 on Wednesday. The stock’s fifty day moving average is $173.81 and its 200-day moving average is $170.39. 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 has a market capitalization of $228.88 billion, a PE ratio of 25.03, a PEG ratio of 2.71 and a beta of 0.52. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $192.38.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 earnings per share (EPS) 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 business had revenue of $18.25 billion for the quarter, compared to analyst estimates of $18.08 billion. During the same quarter in the prior year, the firm posted $1.50 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.26%. The ex-dividend date is Friday, June 7th. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is 81.50%.

Analyst Upgrades and Downgrades

PEP has been the topic of a number of analyst reports. Wedbush reiterated an “outperform” rating and issued a $195.00 price target on shares of PepsiCo in a research report on Tuesday, April 23rd. Jefferies Financial Group upped their price target on PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Barclays lowered their price target 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. upped their price target on PepsiCo from $178.00 to $181.00 and gave the company a “neutral” rating in a research report on Wednesday, April 24th. Finally, Argus cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and a consensus target price of $187.17.

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.