Plancorp LLC Increases Position in PepsiCo Inc. (PEP)
Plancorp LLC increased its position in shares of PepsiCo Inc. (NYSE:PEP) by 793.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,722 shares of the company’s stock after buying an additional 28,170 shares during the period. PepsiCo makes up approximately 3.0% of Plancorp LLC’s holdings, making the stock its 10th largest position. Plancorp LLC’s holdings in PepsiCo were worth $3,361,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. D. Scott Neal Inc. boosted its position in PepsiCo by 8.1% in the second quarter. D. Scott Neal Inc. now owns 944 shares of the company’s stock worth $100,000 after buying an additional 71 shares in the last quarter. Piershale Financial Group Inc. boosted its position in PepsiCo by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock worth $106,000 after buying an additional 4 shares in the last quarter. Stelac Advisory Services LLC boosted its position in PepsiCo by 13.9% in the second quarter. Stelac Advisory Services LLC now owns 1,185 shares of the company’s stock worth $126,000 after buying an additional 145 shares in the last quarter. Cypress Capital Management LLC WY bought a new position in PepsiCo during the second quarter worth $129,000. Finally, Gradient Investments LLC boosted its position in PepsiCo by 7.0% in the second quarter. Gradient Investments LLC now owns 1,530 shares of the company’s stock worth $162,000 after buying an additional 100 shares in the last quarter. 69.81% of the stock is owned by institutional investors.
Shares of PepsiCo Inc. (NYSE:PEP) traded down 1.05% on Wednesday, reaching $105.98. The company had a trading volume of 2,591,643 shares. PepsiCo Inc. has a one year low of $93.25 and a one year high of $110.94. The company has a 50-day moving average price of $107.14 and a 200-day moving average price of $105.27. The firm has a market cap of $151.99 billion, a P/E ratio of 23.25 and a beta of 0.46.
PepsiCo (NYSE:PEP) last announced its quarterly earnings data on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.08. PepsiCo had a return on equity of 57.14% and a net margin of 10.74%. The company had revenue of $16 billion for the quarter. During the same period in the previous year, the business posted $1.35 EPS. PepsiCo’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, analysts expect that PepsiCo Inc. will post $4.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were given a dividend of $0.7525 per share. The ex-dividend date was Wednesday, August 31st. This represents a $3.01 annualized dividend and a dividend yield of 2.81%. PepsiCo’s dividend payout ratio (DPR) is presently 66.01%.
A number of equities analysts have weighed in on PEP shares. Vetr upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 price target for the company in a report on Wednesday, September 7th. Argus upped their target price on PepsiCo from $116.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, July 13th. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a research report on Wednesday, September 7th. Jefferies Group reaffirmed a “buy” rating and issued a $119.00 target price on shares of PepsiCo in a research report on Wednesday, June 29th. Finally, Credit Suisse Group AG began coverage on PepsiCo in a research report on Thursday, September 15th. They issued an “outperform” rating and a $121.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. PepsiCo has an average rating of “Buy” and a consensus price target of $112.25.
In related news, CEO Laxman Narasimhan sold 3,219 shares of the firm’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $109.11, for a total transaction of $351,225.09. Following the completion of the transaction, the chief executive officer now owns 97,057 shares in the company, valued at approximately $10,589,889.27. The transaction 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 firm’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $108.81, for a total value of $18,498,026.43. Following the transaction, the chief executive officer now owns 306,138 shares of the company’s stock, valued at approximately $33,310,875.78. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.
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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