CI Global Investments Inc. Has $9,852,000 Position in PepsiCo Inc. (PEP)
CI Global Investments Inc. held its stake in shares of PepsiCo Inc. (NYSE:PEP) during the second quarter, Holdings Channel reports. The fund owned 93,000 shares of the company’s stock at the end of the second quarter. CI Global Investments Inc.’s holdings in PepsiCo were worth $9,852,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. D. Scott Neal Inc. boosted its stake in PepsiCo by 8.1% in the second quarter. D. Scott Neal Inc. now owns 944 shares of the company’s stock valued at $100,000 after buying an additional 71 shares during the period. Piershale Financial Group Inc. boosted its stake in PepsiCo by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock valued at $106,000 after buying an additional 4 shares during the period. Stelac Advisory Services LLC boosted its stake in PepsiCo by 13.9% in the second quarter. Stelac Advisory Services LLC now owns 1,185 shares of the company’s stock valued at $126,000 after buying an additional 145 shares during the period. Cypress Capital Management LLC WY purchased a new stake in PepsiCo during the second quarter valued at approximately $129,000. Finally, Gradient Investments LLC boosted its stake in PepsiCo by 7.0% in the second quarter. Gradient Investments LLC now owns 1,530 shares of the company’s stock valued at $162,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 70.04% of the company’s stock.
PepsiCo Inc. (NYSE:PEP) traded up 0.16% during midday trading on Monday, hitting $107.00. 673,317 shares of the company traded hands. PepsiCo Inc. has a 12-month low of $93.25 and a 12-month high of $110.94. The stock has a 50 day moving average price of $106.69 and a 200-day moving average price of $105.47. The company has a market cap of $153.46 billion, a PE ratio of 23.48 and a beta of 0.46.
PepsiCo (NYSE:PEP) last issued its quarterly earnings results on Thursday, September 29th. The company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.32 by $0.08. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. The firm had revenue of $16 billion for the quarter. During the same quarter last year, the firm posted $1.35 earnings per share. PepsiCo’s revenue was down 1.9% compared to the same quarter last year. Analysts expect that PepsiCo Inc. will post $4.79 EPS for the current year.
PEP has been the subject of several recent analyst reports. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $104.00 target price (down previously from $105.00) on shares of PepsiCo in a research note on Wednesday, June 29th. Sanford C. Bernstein restated an “outperform” rating and issued a $118.00 target price on shares of PepsiCo in a research note on Wednesday, August 10th. Morgan Stanley reiterated an “overweight” rating and issued a $121.00 price target on shares of PepsiCo in a report on Friday, September 30th. Credit Agricole SA reiterated an “outperform” rating on shares of PepsiCo in a report on Monday, August 22nd. Finally, Bank of America Corp. reiterated a “buy” rating and issued a $120.00 price target on shares of PepsiCo in a report on Thursday, September 22nd. One 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’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $113.68.
In other PepsiCo news, EVP Mehmood Khan sold 51,137 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 164,464 shares in the company, valued at $17,646,987.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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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