Alta Capital Management LLC Has $37,688,000 Position in PepsiCo Inc. (PEP)
Alta Capital Management LLC boosted its position in PepsiCo Inc. (NYSE:PEP) by 2.1% during the second quarter, Holdings Channel reports. The firm owned 355,752 shares of the company’s stock after buying an additional 7,350 shares during the period. PepsiCo accounts for 2.3% of Alta Capital Management LLC’s holdings, making the stock its 23rd largest position. Alta Capital Management LLC’s holdings in PepsiCo were worth $37,688,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in PepsiCo by 1.5% in the first quarter. State Street Corp now owns 58,107,763 shares of the company’s stock worth $5,954,891,000 after buying an additional 860,005 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in 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 increased its stake in 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 increased its stake in 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 increased its stake in 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 institutional investors and hedge funds.
Shares of PepsiCo Inc. (NYSE:PEP) traded down 0.15% during mid-day trading on Thursday, hitting $105.92. 3,582,563 shares of the company’s stock traded hands. The company has a market cap of $151.91 billion, a PE ratio of 23.24 and a beta of 0.46. The firm has a 50-day moving average of $106.78 and a 200 day moving average of $105.43. 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 results on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.08. The business 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 business’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.35 EPS. Equities research analysts predict that PepsiCo Inc. will post $4.79 EPS for the current year.
PEP has been the topic of a number of recent research reports. Goldman Sachs Group Inc. reissued a “neutral” rating and set a $104.00 target price (down from $105.00) on shares of PepsiCo in a research report on Wednesday, June 29th. Sanford C. Bernstein reissued an “outperform” rating and set a $118.00 target price on shares of PepsiCo in a research report on Wednesday, August 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $121.00 price objective on shares of PepsiCo in a report on Friday, September 30th. Credit Agricole SA reaffirmed an “outperform” rating on shares of PepsiCo in a report on Monday, August 22nd. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $120.00 price objective on shares of PepsiCo in a report on Thursday, September 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $113.68.
In related news, EVP Mehmood Khan sold 51,137 shares of the stock in a transaction that occurred on Thursday, July 28th. The shares were 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 in the company, valued at approximately $17,646,987.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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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