Eastern Bank raised its stake in PepsiCo, Inc. (NASDAQ:PEP) by 188.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 123,469 shares of the company’s stock after buying an additional 80,671 shares during the period. Eastern Bank’s holdings in PepsiCo were worth $13,641,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Highwater Wealth Management LLC acquired a new position in shares of PepsiCo in the 4th quarter valued at about $28,000. Sound Income Strategies LLC raised its stake in PepsiCo by 50.8% during the 4th quarter. Sound Income Strategies LLC now owns 597 shares of the company’s stock worth $66,000 after buying an additional 201 shares during the period. Mainstay Capital Management LLC ADV raised its stake 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 worth $100,000 after buying an additional 10,787 shares during the period. Prime Capital Investment Advisors LLC raised its stake in PepsiCo by 351.5% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 903 shares of the company’s stock worth $101,000 after buying an additional 703 shares during the period. Finally, WealthTrust Arizona LLC raised its stake in shares of PepsiCo by 268.7% in the third quarter. WealthTrust Arizona LLC now owns 1,106 shares of the company’s stock worth $124,000 after purchasing an additional 806 shares during the last quarter. Hedge funds and other institutional investors own 71.93% of the company’s stock.
In other PepsiCo news, CEO Vivek Sankaran sold 13,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $117.28, for a total transaction of $1,524,640.00. Following the completion of the transaction, the chief executive officer now directly owns 90,379 shares of the company’s stock, valued at $10,599,649.12. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.27% of the stock is currently owned by corporate insiders.
Several analysts have recently commented on PEP shares. ValuEngine raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Zacks Investment Research downgraded PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Morgan Stanley increased their price objective on PepsiCo from $125.00 to $130.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 19th. Jefferies Financial Group upped their target price on PepsiCo to $119.00 and gave the company a “hold” rating in a report on Tuesday, February 19th. They noted that the move was a valuation call. Finally, BidaskClub raised PepsiCo from a “buy” rating to a “strong-buy” rating in a report on Wednesday, December 12th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $118.79.
PEP stock opened at $115.66 on Friday. The company has a market capitalization of $162.42 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.95 and a beta of 0.64. The company has a debt-to-equity ratio of 1.94, a current ratio of 0.99 and a quick ratio of 0.85. PepsiCo, Inc. has a 12-month low of $95.94 and a 12-month high of $122.00.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Friday, February 15th. The company reported $1.49 earnings per share for the quarter, meeting the consensus estimate of $1.49. PepsiCo had a return on equity of 69.83% and a net margin of 19.35%. The business had revenue of $19.52 billion during the quarter, compared to analyst estimates of $19.52 billion. During the same period in the prior year, the company earned $1.31 earnings per share. PepsiCo’s revenue was up .0% compared to the same quarter last year. Analysts anticipate that PepsiCo, Inc. will post 5.5 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 1st will be issued a dividend of $0.9275 per share. This represents a $3.71 annualized dividend and a yield of 3.21%. The ex-dividend date is Thursday, February 28th. PepsiCo’s dividend payout ratio (DPR) is 65.55%.
TRADEMARK VIOLATION WARNING: This story was posted by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of US and international copyright legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2019/03/17/eastern-bank-has-13-64-million-holdings-in-pepsico-inc-pep.html.
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.
Recommended Story: Cost of Capital Explained
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP).
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.