PepsiCo, Inc. (NASDAQ:PEP) Shares Purchased by Wolff Wiese Magana LLC

Wolff Wiese Magana LLC boosted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 17.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 12,577 shares of the company’s stock after purchasing an additional 1,907 shares during the period. PepsiCo comprises approximately 1.9% of Wolff Wiese Magana LLC’s portfolio, making the stock its 14th largest position. Wolff Wiese Magana LLC’s holdings in PepsiCo were worth $2,201,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PEP. SRS Capital Advisors Inc. grew its stake in shares of PepsiCo by 22.7% in the third quarter. SRS Capital Advisors Inc. now owns 4,044 shares of the company’s stock worth $685,000 after acquiring an additional 748 shares in the last quarter. Becker Capital Management Inc. grew its stake in shares of PepsiCo by 0.6% in the third quarter. Becker Capital Management Inc. now owns 11,337 shares of the company’s stock worth $1,921,000 after acquiring an additional 73 shares in the last quarter. Axxcess Wealth Management LLC grew its stake in shares of PepsiCo by 78.9% during the third quarter. Axxcess Wealth Management LLC now owns 56,081 shares of the company’s stock worth $9,502,000 after purchasing an additional 24,726 shares in the last quarter. Ameriprise Financial Inc. grew its stake in shares of PepsiCo by 2.1% during the third quarter. Ameriprise Financial Inc. now owns 5,876,920 shares of the company’s stock worth $995,728,000 after purchasing an additional 121,742 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of PepsiCo by 8.7% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,258,829 shares of the company’s stock worth $213,296,000 after purchasing an additional 100,650 shares in the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on PEP shares. Jefferies Financial Group boosted their target price on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Wedbush reiterated an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a research note on Tuesday, April 23rd. Argus downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Monday, March 18th. Finally, Barclays reduced their price target on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating for the company in a research report on Wednesday, June 12th. Seven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $186.38.

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 shares were 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 directly owns 53,953 shares in the company, valued at $9,603,634. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by company insiders.

PepsiCo Price Performance

Shares of NASDAQ:PEP opened at $162.89 on Tuesday. The company has a 50-day simple moving average of $173.37 and a 200-day simple moving average of $170.30. PepsiCo, Inc. has a one year low of $155.83 and a one year 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 has a market capitalization of $223.94 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 2.71 and a beta of 0.52.

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

PepsiCo Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a dividend of $1.355 per share. This is a boost from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Friday, June 7th. PepsiCo’s dividend payout ratio is currently 81.50%.

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.