PepsiCo Inc. (PEP) Position Boosted by Bath Savings Trust Co
Bath Savings Trust Co raised its position in PepsiCo Inc. (NYSE:PEP) by 0.9% during the second quarter, Holdings Channel reports. The fund owned 29,547 shares of the company’s stock after buying an additional 268 shares during the period. Bath Savings Trust Co’s holdings in PepsiCo were worth $3,130,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP raised 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 last quarter. Renaissance Technologies LLC raised its stake in PepsiCo by 108.4% in the first quarter. Renaissance Technologies LLC now owns 3,729,062 shares of the company’s stock worth $382,154,000 after buying an additional 1,940,000 shares during the last quarter. State Street Corp raised 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 last quarter. Svenska Handelsbanken AB publ raised its stake in PepsiCo by 5,341.9% in the second quarter. Svenska Handelsbanken AB publ now owns 815,737 shares of the company’s stock worth $86,419,000 after buying an additional 800,747 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in PepsiCo by 36.0% in the first quarter. Canada Pension Plan Investment Board now owns 2,479,680 shares of the company’s stock worth $254,118,000 after buying an additional 655,841 shares during the last quarter. 70.06% of the stock is owned by institutional investors and hedge funds.
Shares of PepsiCo Inc. (NYSE:PEP) traded up 0.86% during midday trading on Friday, reaching $106.83. The company’s stock had a trading volume of 4,788,606 shares. PepsiCo Inc. has a 52 week low of $93.25 and a 52 week high of $110.94. The company has a 50 day moving average price of $106.69 and a 200-day moving average price of $105.47. The stock has a market capitalization of $153.21 billion, a PE ratio of 23.44 and a beta of 0.46.
PepsiCo (NYSE:PEP) last announced its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.08. The company had revenue of $16 billion for the quarter. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. PepsiCo’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.35 earnings per share. On average, equities research analysts expect that PepsiCo Inc. will post $4.79 EPS for the current year.
A number of analysts have commented on PEP shares. Vetr raised PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 target price for the company in a report on Wednesday, September 7th. Argus lifted their price objective on PepsiCo from $116.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, July 13th. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a report on Wednesday, September 7th. Jefferies Group reaffirmed a “buy” rating and issued a $119.00 price objective on shares of PepsiCo in a report on Wednesday, June 29th. Finally, Credit Suisse Group AG initiated coverage on PepsiCo in a report on Thursday, September 15th. They issued an “outperform” rating and a $121.00 price objective for the company. 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. The stock has an average rating of “Buy” and a consensus target price of $113.68.
In other PepsiCo news, EVP Mehmood Khan sold 51,137 shares of the stock in a transaction dated 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 directly owns 164,464 shares of the company’s stock, valued at approximately $17,646,987.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company 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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