Long Road Investment Counsel LLC Has $3,178,000 Stake in PepsiCo Inc. (PEP)
Long Road Investment Counsel LLC held its position in shares of PepsiCo Inc. (NYSE:PEP) during the second quarter, Holdings Channel reports. The firm owned 30,000 shares of the company’s stock at the end of the second quarter. PepsiCo accounts for approximately 2.5% of Long Road Investment Counsel LLC’s investment portfolio, making the stock its 11th largest position. Long Road Investment Counsel LLC’s holdings in PepsiCo were worth $3,178,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Chesley Taft & Associates LLC raised its position in PepsiCo by 4.3% in the first quarter. Chesley Taft & Associates LLC now owns 243,537 shares of the company’s stock worth $24,958,000 after buying an additional 10,023 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its position in PepsiCo by 1.1% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 78,076 shares of the company’s stock worth $8,001,000 after buying an additional 824 shares during the last quarter. IMS Capital Management raised its position in PepsiCo by 11.6% in the first quarter. IMS Capital Management now owns 2,444 shares of the company’s stock worth $250,000 after buying an additional 254 shares during the last quarter. Acropolis Investment Management LLC raised its position in PepsiCo by 4.1% in the first quarter. Acropolis Investment Management LLC now owns 10,109 shares of the company’s stock worth $1,006,000 after buying an additional 398 shares during the last quarter. Finally, Douglas Lane & Associates LLC bought a new position in PepsiCo during the first quarter worth approximately $37,227,000. 70.04% of the stock is owned by institutional investors and hedge funds.
Shares of PepsiCo Inc. (NYSE:PEP) traded up 0.16% on Monday, reaching $107.00. The company had a trading volume of 673,317 shares. The stock’s 50 day moving average is $106.69 and its 200 day moving average is $105.47. 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 $153.46 billion, a price-to-earnings ratio of 23.48 and a beta of 0.46.
PepsiCo (NYSE:PEP) last announced its quarterly earnings results on Thursday, September 29th. The company reported $1.40 EPS for the quarter, beating the Zacks’ 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 earned $16 billion during the quarter. During the same period in the previous year, the business posted $1.35 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. On average, equities analysts anticipate that PepsiCo Inc. will post $4.79 EPS for the current year.
A number of equities analysts have recently commented on PEP shares. Bank of America Corp. reaffirmed a “buy” rating and issued a $120.00 price target on shares of PepsiCo in a report on Thursday, September 22nd. Credit Agricole SA reaffirmed an “outperform” rating on shares of PepsiCo in a report on Monday, August 22nd. Credit Suisse Group AG started coverage on PepsiCo in a report on Thursday, September 15th. They issued an “outperform” rating and a $121.00 price target for the company. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a report on Wednesday, September 7th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $120.00 price objective on shares of PepsiCo in a research note on Monday, October 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $113.68.
In related news, EVP Mehmood Khan sold 51,137 shares of the 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 of the company’s stock, valued at approximately $17,646,987.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by corporate 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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