Montrusco Bolton Investments Inc. Acquires 515 Shares of PepsiCo Inc. (PEP)
Montrusco Bolton Investments Inc. increased its stake in PepsiCo Inc. (NYSE:PEP) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 40,510 shares of the company’s stock after buying an additional 515 shares during the period. Montrusco Bolton Investments Inc.’s holdings in PepsiCo were worth $4,292,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. State Street Corp raised its stake in shares of PepsiCo by 1.5% in the first quarter. State Street Corp now owns 58,107,763 shares of the company’s stock valued at $5,954,891,000 after buying an additional 860,005 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of 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 period. Wellington Management Group LLP raised its position in shares of 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 period. BlackRock Fund Advisors raised its position in shares of 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 period. Finally, Geode Capital Management LLC raised its position in shares of 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 period. 70.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PepsiCo Inc. (NYSE:PEP) traded up 0.22% during midday trading on Monday, hitting $106.22. The stock had a trading volume of 3,119,298 shares. PepsiCo Inc. has a one year low of $93.25 and a one year high of $110.94. The firm’s 50-day moving average is $106.90 and its 200 day moving average is $105.42. The company has a market capitalization of $152.34 billion, a PE ratio of 23.30 and a beta of 0.46.
PepsiCo (NYSE:PEP) last released its quarterly earnings data on Thursday, September 29th. The company reported $1.40 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.08. The business earned $16 billion during the quarter. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.35 EPS. Equities analysts expect that PepsiCo Inc. will post $4.79 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were issued a $0.7525 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $3.01 dividend on an annualized basis and a yield of 2.83%. PepsiCo’s dividend payout ratio is presently 66.01%.
PEP has been the topic of a number of research analyst reports. Bank of America Corp. reissued a “buy” rating and set a $120.00 price target on shares of PepsiCo in a report on Thursday, September 22nd. Credit Agricole SA reissued an “outperform” rating on shares of PepsiCo in a report on Monday, August 22nd. Credit Suisse Group AG initiated coverage on PepsiCo in a report on Thursday, September 15th. They set an “outperform” rating and a $121.00 price target on the stock. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a report on Wednesday, September 7th. Finally, Susquehanna reissued a “neutral” rating on shares of PepsiCo in a report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $113.68.
In related news, CEO Albert P. Carey sold 170,003 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 306,138 shares in the company, valued at $33,310,875.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laxman Narasimhan sold 3,219 shares of the company’s stock in a transaction dated 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 owns 97,057 shares of the company’s stock, valued at approximately $10,589,889.27. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate 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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