CI Investments Inc. Reduces Position in PepsiCo Inc. (PEP)
CI Investments Inc. cut its position in shares of PepsiCo Inc. (NYSE:PEP) by 6.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 781,447 shares of the company’s stock after selling 54,000 shares during the period. CI Investments Inc. owned approximately 0.05% of PepsiCo worth $82,786,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the stock. Wellington Management Group LLP boosted its position in PepsiCo by 40.9% in the first quarter. Wellington Management Group LLP now owns 21,691,078 shares of the company’s stock valued at $2,222,902,000 after buying an additional 6,297,861 shares in the last quarter. Bank of Montreal Can purchased a new position in PepsiCo during the second quarter valued at about $519,379,000. Emerald Acquisition Ltd. purchased a new position in PepsiCo during the second quarter valued at about $370,675,000. Renaissance Technologies LLC boosted its position in PepsiCo by 108.4% in the first quarter. Renaissance Technologies LLC now owns 3,729,062 shares of the company’s stock valued at $382,154,000 after buying an additional 1,940,000 shares in the last quarter. Finally, State Street Corp boosted its position in 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. 70.06% of the stock is owned by institutional investors and hedge funds.
Shares of PepsiCo Inc. (NYSE:PEP) traded down 0.84% on Tuesday, reaching $105.33. 1,079,386 shares of the company’s stock traded hands. The company’s 50-day moving average is $106.90 and its 200-day moving average is $105.42. PepsiCo Inc. has a 52 week low of $93.25 and a 52 week high of $110.94. The firm has a market capitalization of $151.06 billion, a P/E ratio of 23.11 and a beta of 0.46.
PepsiCo (NYSE:PEP) last posted its earnings results on Thursday, September 29th. The company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.08. The company earned $16 billion during the quarter. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. The business’s revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.35 earnings per share. Equities research analysts anticipate that PepsiCo Inc. will post $4.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were given a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 2.83%. The ex-dividend date was Wednesday, August 31st. PepsiCo’s dividend payout ratio is 66.01%.
Several research analysts recently issued reports on the stock. Deutsche Bank AG reissued a “buy” rating and set a $120.00 price target on shares of PepsiCo in a report on Monday, October 3rd. Morgan Stanley reissued an “overweight” rating and set a $121.00 price target on shares of PepsiCo in a report on Friday, September 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $120.00 target price (up from $116.00) on shares of PepsiCo in a report on Friday, September 30th. Bank of America Corp. reaffirmed a “buy” rating and issued a $120.00 target price on shares of PepsiCo in a report on Friday, September 30th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating and issued a $122.00 target price on shares of PepsiCo in a report on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $113.68.
In other PepsiCo news, EVP Mehmood Khan sold 51,137 shares of the business’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $107.30, for a total value of $5,487,000.10. Following the completion of the sale, the executive vice president now directly owns 164,464 shares of the company’s stock, valued at $17,646,987.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laxman Narasimhan sold 3,219 shares of the business’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 sale, the chief executive officer now directly owns 97,057 shares of the company’s stock, valued at $10,589,889.27. 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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