Virginia Retirement Systems ET AL Sells 700 Shares of PepsiCo, Inc. (PEP)
Virginia Retirement Systems ET AL lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 300,862 shares of the company’s stock after selling 700 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in PepsiCo were worth $33,239,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Telos Capital Management Inc. raised its stake in shares of PepsiCo by 0.3% during the 4th quarter. Telos Capital Management Inc. now owns 34,032 shares of the company’s stock worth $3,760,000 after acquiring an additional 101 shares in the last quarter. Whitnell & Co. raised its stake in shares of PepsiCo by 0.4% during the 4th quarter. Whitnell & Co. now owns 26,335 shares of the company’s stock worth $2,909,000 after acquiring an additional 103 shares in the last quarter. Leavell Investment Management Inc. raised its stake in shares of PepsiCo by 0.6% during the 4th quarter. Leavell Investment Management Inc. now owns 16,637 shares of the company’s stock worth $1,853,000 after acquiring an additional 106 shares in the last quarter. Hayek Kallen Investment Management raised its stake in shares of PepsiCo by 0.4% during the 4th quarter. Hayek Kallen Investment Management now owns 27,585 shares of the company’s stock worth $3,048,000 after acquiring an additional 110 shares in the last quarter. Finally, Kovack Advisors Inc. raised its stake in shares of PepsiCo by 0.8% during the 4th quarter. Kovack Advisors Inc. now owns 14,539 shares of the company’s stock worth $1,606,000 after acquiring an additional 110 shares in the last quarter. Institutional investors and hedge funds own 71.79% of the company’s stock.
Several research analysts recently commented on PEP shares. Goldman Sachs Group set a $132.00 price objective on shares of PepsiCo and gave the stock a “neutral” rating in a research note on Wednesday, April 24th. Royal Bank of Canada set a $115.00 price target on shares of PepsiCo and gave the company a “neutral” rating in a research note on Wednesday, April 24th. Zacks Investment Research lowered shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Morgan Stanley upped their price target on shares of PepsiCo from $125.00 to $130.00 and gave the company an “overweight” rating in a research note on Tuesday, February 19th. Finally, SunTrust Banks upped their price target on shares of PepsiCo to $120.00 and gave the company a “hold” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $124.65.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, April 17th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.92 by $0.05. The business had revenue of $12.88 billion for the quarter, compared to the consensus estimate of $12.68 billion. PepsiCo had a net margin of 19.37% and a return on equity of 65.12%. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. On average, research analysts expect that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 7th will be issued a $0.955 dividend. This is an increase from PepsiCo’s previous quarterly dividend of $0.93. This represents a $3.82 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend is Thursday, June 6th. PepsiCo’s dividend payout ratio is 65.55%.
In other news, CEO Vivek Sankaran sold 13,000 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $117.28, for a total value of $1,524,640.00. Following the sale, the chief executive officer now directly owns 90,379 shares of the company’s stock, valued at approximately $10,599,649.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Yawman sold 25,263 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $126.42, for a total transaction of $3,193,748.46. Following the completion of the sale, the executive vice president now directly owns 80,934 shares in the company, valued at $10,231,676.28. The disclosure for this sale can be found here. Insiders sold a total of 46,063 shares of company stock worth $5,701,110 over the last ninety days. Insiders own 0.28% of the company’s stock.
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PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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