PepsiCo Inc. (PEP) Stake Cut by Manning & Napier Advisors LLC
Manning & Napier Advisors LLC decreased its stake in shares of PepsiCo Inc. (NYSE:PEP) by 10.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 267,606 shares of the company’s stock after selling 30,941 shares during the period. Manning & Napier Advisors LLC’s holdings in PepsiCo were worth $28,349,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in PEP. D. Scott Neal Inc. increased its position in shares of 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 during the period. Piershale Financial Group Inc. increased its position in shares of 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 period. Stelac Advisory Services LLC increased its position in shares of 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 during the period. Cypress Capital Management LLC WY bought a new position in shares of PepsiCo during the second quarter worth about $129,000. Finally, Gradient Investments LLC increased its position in shares of 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 during the period. 70.06% of the stock is owned by hedge funds and other institutional investors.
PepsiCo Inc. (NYSE:PEP) traded up 0.2810% during mid-day trading on Wednesday, reaching $105.8666. The company’s stock had a trading volume of 921,850 shares. The firm’s 50 day moving average price is $106.83 and its 200 day moving average price is $105.42. The stock has a market cap of $151.83 billion, a price-to-earnings ratio of 23.2265 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 issued its earnings results on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, topping 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 business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the company posted $1.35 earnings per share. On average, equities analysts predict that PepsiCo Inc. will post $4.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Wednesday, August 31st. PepsiCo’s dividend payout ratio (DPR) is 66.01%.
Several research firms have weighed in on PEP. Vetr downgraded PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 price target for the company. in a research note on Wednesday, June 29th. Argus upped their price target on PepsiCo from $116.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, July 13th. BMO Capital Markets restated an “outperform” rating on shares of PepsiCo in a research note on Friday, July 15th. Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a research note on Tuesday, June 21st. Finally, Jefferies Group restated a “buy” rating and issued a $122.00 price target (down from $124.00) on shares of PepsiCo in a research note 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 stock. The stock presently has an average rating of “Buy” and an average price target of $113.68.
In other news, EVP Mehmood Khan sold 51,137 shares of the 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 completion of the transaction, the executive vice president now directly owns 164,464 shares of the company’s stock, valued at approximately $17,646,987.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.33% of the company’s stock.
PepsiCo Company Profile
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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