Cowen Prime Services LLC Maintains Position in PepsiCo Inc. (PEP)
Cowen Prime Services LLC held its stake in PepsiCo Inc. (NYSE:PEP) during the second quarter, Holdings Channel reports. The fund owned 1,011 shares of the company’s stock at the end of the second quarter. Cowen Prime Services LLC’s holdings in PepsiCo were worth $104,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the company. Moreno Evelyn V increased its stake in shares of PepsiCo by 2.6% in the first quarter. Moreno Evelyn V now owns 46,085 shares of the company’s stock worth $4,723,000 after buying an additional 1,155 shares in the last quarter. Rosenbaum Jay D. increased its stake in shares of PepsiCo by 5.5% in the first quarter. Rosenbaum Jay D. now owns 12,372 shares of the company’s stock worth $1,268,000 after buying an additional 642 shares in the last quarter. Carroll Financial Associates Inc. increased its stake in shares of PepsiCo by 4.3% in the first quarter. Carroll Financial Associates Inc. now owns 26,323 shares of the company’s stock worth $2,697,000 after buying an additional 1,093 shares in the last quarter. Ronna Sue Cohen raised its position in PepsiCo by 0.3% in the first quarter. Ronna Sue Cohen now owns 7,199 shares of the company’s stock valued at $738,000 after buying an additional 23 shares during the period. Finally, Hutner Daniel Ellsworth raised its position in PepsiCo by 1.6% in the first quarter. Hutner Daniel Ellsworth now owns 63,091 shares of the company’s stock valued at $6,466,000 after buying an additional 970 shares during the period. Hedge funds and other institutional investors own 70.06% of the company’s stock.
PepsiCo Inc. (NYSE:PEP) traded up 0.29% during mid-day trading on Monday, reaching $106.30. The company’s stock had a trading volume of 747,940 shares. The firm has a market capitalization of $152.45 billion, a P/E ratio of 23.32 and a beta of 0.46. The firm’s 50 day moving average price is $106.96 and its 200 day moving average price is $105.32. PepsiCo Inc. has a 52 week low of $93.25 and a 52 week high of $110.94.
PepsiCo (NYSE:PEP) last posted its quarterly earnings data on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.08. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. The company earned $16 billion during the quarter. During the same quarter last year, the business posted $1.35 EPS. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, analysts anticipate that PepsiCo Inc. will post $4.79 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were issued a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Wednesday, August 31st. PepsiCo’s payout ratio is 66.01%.
Several equities analysts recently commented on PEP shares. Susquehanna reissued a “neutral” rating on shares of PepsiCo in a report on Tuesday, June 14th. Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a report on Tuesday, June 21st. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $104.00 price target (down from $105.00) on shares of PepsiCo in a research note on Wednesday, June 29th. Jefferies Group reiterated a “buy” rating and issued a $119.00 price target on shares of PepsiCo in a research note on Wednesday, June 29th. Finally, Vetr lowered shares of PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 price target on the stock. in a research note on Wednesday, June 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the stock. PepsiCo presently has a consensus rating of “Buy” and an average target price of $113.68.
In related news, CEO Albert P. Carey sold 170,003 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The shares were 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 directly owns 306,138 shares in the company, valued at $33,310,875.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mehmood Khan sold 51,137 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $107.30, for a total transaction of $5,487,000.10. Following the sale, the executive vice president now owns 164,464 shares of the company’s stock, valued at $17,646,987.20. 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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