Parthenon LLC Buys 612 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Parthenon LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 101,407 shares of the company’s stock after acquiring an additional 612 shares during the quarter. PepsiCo accounts for approximately 2.2% of Parthenon LLC’s holdings, making the stock its 14th biggest holding. Parthenon LLC’s holdings in PepsiCo were worth $17,747,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PEP. Charles Schwab Investment Management Inc. increased its stake in shares of PepsiCo by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock worth $3,227,287,000 after buying an additional 578,083 shares during the period. Norges Bank purchased a new position in shares of PepsiCo in the fourth quarter worth $2,686,139,000. California Public Employees Retirement System boosted its holdings in PepsiCo by 17.9% in 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 in the last quarter. Franklin Resources Inc. boosted its holdings in PepsiCo by 17.7% in 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 in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in PepsiCo by 15.1% in 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 in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value 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 Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by insiders.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded up $1.79 during midday trading on Friday, hitting $164.39. 4,208,217 shares of the company’s stock traded hands, compared to its average volume of 4,996,291. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $192.38. The stock has a market capitalization of $226.00 billion, a price-to-earnings ratio of 24.72, a price-to-earnings-growth ratio of 2.67 and a beta of 0.52. 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 firm has a fifty day moving average of $172.15 and a 200 day moving average of $170.10.

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

PepsiCo Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 7th were issued a $1.355 dividend. This represents a $5.42 annualized dividend and a yield of 3.30%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. The ex-dividend date was Friday, June 7th. PepsiCo’s dividend payout ratio is currently 81.50%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Jefferies Financial Group lifted their price target on shares of PepsiCo from $209.00 to $211.00 and gave the company a “buy” rating in a report on Thursday, May 16th. TD Cowen dropped their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday. Wedbush restated an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a report on Tuesday, April 23rd. BNP Paribas began coverage on shares of PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. Finally, JPMorgan Chase & Co. boosted their target price on shares of PepsiCo from $181.00 to $184.00 and gave the company a “neutral” rating in a report on Wednesday, June 26th. Seven research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $186.64.

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.