Benson Investment Management Company Inc. decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,575 shares of the company’s stock after selling 310 shares during the quarter. PepsiCo makes up 2.3% of Benson Investment Management Company Inc.’s portfolio, making the stock its 25th biggest holding. Benson Investment Management Company Inc.’s holdings in PepsiCo were worth $2,715,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Highwater Wealth Management LLC bought a new stake in PepsiCo during the 4th quarter valued at $28,000. Sound Income Strategies LLC raised its position in PepsiCo by 50.8% during the 4th quarter. Sound Income Strategies LLC now owns 597 shares of the company’s stock valued at $66,000 after purchasing an additional 201 shares in the last quarter. Mainstay Capital Management LLC ADV raised its position in PepsiCo by 10,787.0% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 10,887 shares of the company’s stock valued at $100,000 after purchasing an additional 10,787 shares in the last quarter. Prime Capital Investment Advisors LLC raised its position in PepsiCo by 351.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 903 shares of the company’s stock valued at $101,000 after purchasing an additional 703 shares in the last quarter. Finally, WealthTrust Arizona LLC raised its position in PepsiCo by 268.7% during the 3rd quarter. WealthTrust Arizona LLC now owns 1,106 shares of the company’s stock valued at $124,000 after purchasing an additional 806 shares in the last quarter. Institutional investors and hedge funds own 71.93% of the company’s stock.
A number of research analysts have recently issued reports on PEP shares. Macquarie upgraded PepsiCo from a “neutral” rating to an “outperform” rating and set a $126.00 price target on the stock in a report on Tuesday, February 19th. Gabelli reiterated a “buy” rating on shares of PepsiCo in a report on Tuesday, February 19th. BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. Zacks Investment Research downgraded PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Finally, Morgan Stanley boosted their target price on PepsiCo from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 19th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $118.79.
In related news, CEO Vivek Sankaran sold 13,000 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $117.28, for a total value of $1,524,640.00. Following the completion of the transaction, the chief executive officer now directly owns 90,379 shares in the company, valued at $10,599,649.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is owned by corporate insiders.
NASDAQ:PEP opened at $116.58 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.99 and a debt-to-equity ratio of 1.94. The company has a market cap of $163.70 billion, a price-to-earnings ratio of 20.60, a PEG ratio of 2.95 and a beta of 0.64. PepsiCo, Inc. has a 12 month low of $95.94 and a 12 month high of $122.00.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Friday, February 15th. The company reported $1.49 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.49. The business had revenue of $19.52 billion during the quarter, compared to analyst estimates of $19.52 billion. PepsiCo had a return on equity of 69.83% and a net margin of 19.35%. The business’s revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.31 earnings per share. Equities research analysts forecast that PepsiCo, Inc. will post 5.5 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be given a $0.9275 dividend. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 3.18%. PepsiCo’s dividend payout ratio (DPR) is presently 65.55%.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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