PepsiCo, Inc. (NASDAQ:PEP) Shares Bought by Miracle Mile Advisors LLC

Miracle Mile Advisors LLC lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,956 shares of the company’s stock after acquiring an additional 1,127 shares during the period. Miracle Mile Advisors LLC’s holdings in PepsiCo were worth $6,293,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of PepsiCo by 3.1% in 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 purchasing an additional 578,083 shares in the last quarter. Norges Bank acquired a new stake in shares of PepsiCo during the fourth quarter valued at approximately $2,686,139,000. California Public Employees Retirement System raised its holdings in shares of PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock valued at $1,641,389,000 after acquiring an additional 1,470,064 shares during the period. Franklin Resources Inc. raised its holdings in shares of PepsiCo by 17.7% during the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after acquiring an additional 1,345,065 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of PepsiCo by 15.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock valued at $1,430,250,000 after acquiring an additional 1,105,127 shares during the period. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of recent analyst reports. Morgan Stanley upgraded 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. BNP Paribas initiated coverage on shares of PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. Jefferies Financial Group upped their price objective on shares of PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a research note on Thursday, May 16th. JPMorgan Chase & Co. upped their price objective on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a research note on Wednesday, June 26th. Finally, Barclays dropped their price objective on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Seven research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, PepsiCo presently has an average rating of “Hold” and an average target price of $186.38.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly 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 available through this link. 0.14% of the stock is owned by insiders.

PepsiCo Stock Performance

PEP stock opened at $162.89 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The company has a market capitalization of $223.94 billion, a price-to-earnings ratio of 24.49, a P/E/G ratio of 2.71 and a beta of 0.52. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $192.38. The firm has a 50 day moving average of $173.37 and a two-hundred day moving average of $170.30.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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 business had revenue of $18.25 billion during the quarter, compared to the consensus estimate of $18.08 billion. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. PepsiCo’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 EPS. As a group, equities analysts anticipate that PepsiCo, Inc. will post 8.16 EPS for the current fiscal year.

PepsiCo Increases Dividend

The company also recently disclosed 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 an increase from PepsiCo’s previous quarterly dividend of $1.27. This represents a $5.42 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Friday, June 7th. PepsiCo’s dividend payout ratio is currently 81.50%.

PepsiCo Company Profile

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.