HB Wealth Management LLC Purchases 5,436 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Defense World · Sep 25, 2022 21:01

HB Wealth Management LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 7.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 81,273 shares of the company's stock after buying an additional 5,436 shares during the period. HB Wealth Management LLC's holdings in PepsiCo were worth $13,545,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cordant Inc. purchased a new position in shares of PepsiCo during the first quarter valued at approximately $27,000. Landmark Wealth Management LLC purchased a new position in shares of PepsiCo during the first quarter valued at approximately $29,000. Strategic Asset Management LLC raised its holdings in shares of PepsiCo by 53.3% during the first quarter. Strategic Asset Management LLC now owns 276 shares of the company's stock valued at $46,000 after purchasing an additional 96 shares during the last quarter. Retirement Group LLC raised its holdings in shares of PepsiCo by 100.0% during the first quarter. Retirement Group LLC now owns 322 shares of the company's stock valued at $54,000 after purchasing an additional 161 shares during the last quarter. Finally, Lansing Street Advisors purchased a new position in shares of PepsiCo during the first quarter valued at approximately $58,000. Institutional investors own 71.38% of the company's stock.

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Insider Buying and Selling

In related news, CEO Steven C. Williams sold 1,753 shares of the company's stock in a transaction on Friday, July 15th. The shares were sold at an average price of $171.18, for a total transaction of $300,078.54. Following the completion of the transaction, the chief executive officer now owns 70,892 shares in the company, valued at $12,135,292.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other PepsiCo news, CEO Steven C. Williams sold 1,753 shares of the stock in a transaction on Friday, July 15th. The shares were sold at an average price of $171.18, for a total transaction of $300,078.54. Following the completion of the transaction, the chief executive officer now owns 70,892 shares in the company, valued at $12,135,292.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $174.83, for a total transaction of $600,191.39. Following the transaction, the chief executive officer now owns 50,577 shares of the company's stock, valued at approximately $8,842,376.91. The disclosure for this sale can be found here. 0.12% of the stock is owned by company insiders.

PepsiCo Stock Performance

Shares of NASDAQ PEP opened at $168.52 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.83 and a quick ratio of 0.64. The firm has a fifty day moving average price of $173.27 and a 200-day moving average price of $170.42. PepsiCo, Inc. has a 1 year low of $149.48 and a 1 year high of $181.07. The stock has a market cap of $232.54 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 3.30 and a beta of 0.55.

PepsiCo (NASDAQ:PEP – Get Rating) last issued its earnings results on Tuesday, July 12th. The company reported $1.86 earnings per share for the quarter, topping analysts' consensus estimates of $1.73 by $0.13. PepsiCo had a net margin of 11.28% and a return on equity of 52.01%. The firm had revenue of $20.23 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. PepsiCo's revenue for the quarter was up 5.2% on a year-over-year basis. Equities analysts anticipate that PepsiCo, Inc. will post 6.66 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be given a dividend of $1.15 per share. The ex-dividend date is Thursday, September 1st. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.73%. PepsiCo's dividend payout ratio is 69.28%.

Analyst Ratings Changes

A number of brokerages have commented on PEP. Barclays reduced their target price on shares of PepsiCo from $187.00 to $183.00 and set an "overweight" rating for the company in a report on Wednesday, July 6th. UBS Group reduced their target price on shares of PepsiCo from $190.00 to $182.00 and set a "buy" rating for the company in a report on Tuesday, June 21st. Credit Suisse Group upped their target price on shares of PepsiCo from $168.00 to $170.00 and gave the company a "neutral" rating in a report on Wednesday, July 13th. Deutsche Bank Aktiengesellschaft upped their target price on shares of PepsiCo from $175.00 to $178.00 and gave the company a "hold" rating in a report on Thursday, July 7th. Finally, JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $186.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, July 6th. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.00.

PepsiCo Company Profile

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PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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