Tower Bridge Advisors Sells 6,466 Shares of PepsiCo, Inc. (PEP)

Tower Bridge Advisors reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 107,905 shares of the company’s stock after selling 6,466 shares during the quarter. PepsiCo comprises about 1.5% of Tower Bridge Advisors’ holdings, making the stock its 19th largest position. Tower Bridge Advisors’ holdings in PepsiCo were worth $11,921,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PEP. Telos Capital Management Inc. boosted its position 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 purchasing an additional 101 shares in the last quarter. Whitnell & Co. boosted its position 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 purchasing an additional 103 shares in the last quarter. Leavell Investment Management Inc. boosted its position 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 purchasing an additional 106 shares in the last quarter. Hayek Kallen Investment Management boosted its position 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 purchasing an additional 110 shares in the last quarter. Finally, Kovack Advisors Inc. boosted its position 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 purchasing an additional 110 shares in the last quarter. 71.79% of the stock is currently owned by institutional investors.

In related news, EVP David Yawman sold 25,263 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $126.42, for a total value of $3,193,748.46. Following the sale, the executive vice president now directly owns 80,934 shares in the company, valued at approximately $10,231,676.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Vivek Sankaran sold 13,000 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were 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 approximately $10,599,649.12. 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 quarter. Insiders own 0.28% of the company’s stock.

Several equities research analysts have commented on PEP shares. Macquarie upgraded shares of PepsiCo from a “neutral” rating to an “outperform” rating and set a $126.00 target price on the stock in a research report on Tuesday, February 19th. Gabelli restated a “buy” rating on shares of PepsiCo in a research report on Tuesday, February 19th. Zacks Investment Research lowered shares of PepsiCo from a “hold” rating to a “sell” rating in a research report on Thursday, February 21st. Royal Bank of Canada restated a “neutral” rating and set a $115.00 target price on shares of PepsiCo in a research report on Thursday, April 18th. Finally, Deutsche Bank boosted their target price on shares of PepsiCo from $120.00 to $131.00 and gave the stock a “hold” rating in a research report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $124.65.

PepsiCo stock opened at $130.51 on Friday. PepsiCo, Inc. has a 52 week low of $97.32 and a 52 week high of $130.87. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.75 and a current ratio of 0.94. The stock has a market capitalization of $182.95 billion, a P/E ratio of 23.06, a price-to-earnings-growth ratio of 3.39 and a beta of 0.66.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, April 17th. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.92 by $0.05. PepsiCo had a net margin of 19.37% and a return on equity of 65.12%. The business had revenue of $12.88 billion for the quarter, compared to analyst estimates of $12.68 billion. During the same period in the previous year, the firm earned $0.96 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts forecast 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. Investors of record on Friday, June 7th will be given a $0.955 dividend. The ex-dividend date is Thursday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $0.93. This represents a $3.82 annualized dividend and a dividend yield of 2.93%. PepsiCo’s payout ratio is currently 65.55%.

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PepsiCo Profile

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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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