Commonwealth Equity Services Inc Acquires 9,892 Shares of PepsiCo Inc. (PEP)
Commonwealth Equity Services Inc raised its stake in PepsiCo Inc. (NYSE:PEP) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 597,313 shares of the company’s stock after buying an additional 9,892 shares during the period. Commonwealth Equity Services Inc’s holdings in PepsiCo were worth $63,279,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the company. Piershale Financial Group Inc. raised its stake 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 during the last quarter. Palisade Capital Management LLC NJ raised its stake in PepsiCo by 0.3% in the first quarter. Palisade Capital Management LLC NJ now owns 3,251 shares of the company’s stock worth $333,000 after buying an additional 11 shares during the last quarter. Ronna Sue Cohen raised its stake in PepsiCo by 0.3% in the first quarter. Ronna Sue Cohen now owns 7,199 shares of the company’s stock worth $738,000 after buying an additional 23 shares during the last quarter. Dynamic Advisors Solutions LLC raised its stake in PepsiCo by 0.6% in the first quarter. Dynamic Advisors Solutions LLC now owns 4,548 shares of the company’s stock worth $466,000 after buying an additional 26 shares during the last quarter. Finally, NewSquare Capital LLC raised its stake in PepsiCo by 1.8% in the second quarter. NewSquare Capital LLC now owns 1,578 shares of the company’s stock worth $167,000 after buying an additional 28 shares during the last quarter. 69.81% of the stock is owned by institutional investors.
PepsiCo Inc. (NYSE:PEP) traded up 0.39% during mid-day trading on Thursday, hitting $106.42. 2,466,677 shares of the company were exchanged. The company has a 50 day moving average of $107.08 and a 200 day moving average of $105.28. The stock has a market cap of $152.63 billion, a P/E ratio of 23.35 and a beta of 0.46. PepsiCo Inc. has a 12-month low of $93.25 and a 12-month high of $110.94.
PepsiCo (NYSE:PEP) last announced its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.08. The firm had revenue of $16 billion for the quarter. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned $1.35 EPS. On average, equities research analysts expect that PepsiCo Inc. will post $4.79 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Wednesday, August 31st. PepsiCo’s dividend payout ratio (DPR) is presently 66.01%.
A number of research firms recently weighed in on PEP. 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. BMO Capital Markets reaffirmed an “outperform” rating on shares of PepsiCo in a report on Friday, July 15th. Jefferies Group reaffirmed a “buy” rating and set a $122.00 price target (down from $124.00) on shares of PepsiCo in a report on Friday, September 30th. Finally, Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company. PepsiCo currently has an average rating of “Buy” and a consensus target price of $112.25.
In other news, CEO Albert P. Carey sold 170,003 shares of the company’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $108.81, for a total value of $18,498,026.43. Following the sale, the chief executive officer now owns 306,138 shares of the company’s stock, valued at approximately $33,310,875.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Ramon Laguarta sold 17,221 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $108.27, for a total transaction of $1,864,517.67. Following the completion of the sale, the chief executive officer now directly owns 142,325 shares in the company, valued at approximately $15,409,527.75. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company 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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