Navellier & Associates Inc Increases Position in PepsiCo Inc. (PEP)
Navellier & Associates Inc raised its position in shares of PepsiCo Inc. (NYSE:PEP) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,059 shares of the company’s stock after buying an additional 659 shares during the period. Navellier & Associates Inc’s holdings in PepsiCo were worth $1,701,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. State Street Corp raised its stake in PepsiCo by 1.5% in the first quarter. State Street Corp now owns 58,107,763 shares of the company’s stock worth $5,954,891,000 after buying an additional 860,005 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in PepsiCo by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 38,394,081 shares of the company’s stock worth $3,934,625,000 after buying an additional 320,953 shares during the last quarter. Wellington Management Group LLP raised its stake in PepsiCo by 40.9% in the first quarter. Wellington Management Group LLP now owns 21,691,078 shares of the company’s stock worth $2,222,902,000 after buying an additional 6,297,861 shares during the last quarter. BlackRock Fund Advisors raised its stake in PepsiCo by 2.8% in the first quarter. BlackRock Fund Advisors now owns 20,058,028 shares of the company’s stock worth $2,055,547,000 after buying an additional 543,183 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in PepsiCo by 4.8% in the first quarter. Geode Capital Management LLC now owns 12,518,040 shares of the company’s stock worth $1,280,408,000 after buying an additional 573,839 shares during the last quarter. 70.08% of the stock is currently owned by institutional investors and hedge funds.
Shares of PepsiCo Inc. (NYSE:PEP) traded up 0.60% during mid-day trading on Tuesday, reaching $106.30. 3,561,663 shares of the company traded hands. The stock has a market capitalization of $152.98 billion, a PE ratio of 30.04 and a beta of 0.48. PepsiCo Inc. has a 52-week low of $91.45 and a 52-week high of $110.94. The stock’s 50 day moving average is $107.46 and its 200 day moving average is $104.72.
PepsiCo (NYSE:PEP) last issued its quarterly earnings data on Thursday, July 7th. The company reported $1.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. PepsiCo had a net margin of 8.34% and a return on equity of 54.91%. The business earned $15.40 billion during the quarter. During the same quarter in the previous year, the firm posted $1.32 earnings per share. PepsiCo’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, analysts anticipate that PepsiCo Inc. will post $4.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date is Wednesday, August 31st. PepsiCo’s payout ratio is 84.79%.
A number of equities research analysts recently weighed in on the stock. BMO Capital Markets reaffirmed an “outperform” rating on shares of PepsiCo in a report on Friday, July 15th. Zacks Investment Research lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Vetr lowered shares of PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 price target for the company. in a report on Wednesday, June 29th. Argus raised their price target on shares of PepsiCo from $116.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, July 13th. Finally, Susquehanna reaffirmed a “neutral” rating on shares of PepsiCo in a report on Sunday, July 10th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $110.96.
In other news, CEO Laxman Narasimhan sold 3,219 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $109.11, for a total value of $351,225.09. Following the completion of the sale, the chief executive officer now directly owns 97,057 shares in the company, valued at $10,589,889.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Albert P. Carey sold 170,003 shares of the business’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total transaction of $18,498,026.43. Following the completion of the sale, the chief executive officer now owns 306,138 shares of the company’s stock, valued at $33,310,875.78. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.
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