Highstreet Asset Management Inc. Has $1,913,000 Position in PepsiCo Inc. (PEP)
Highstreet Asset Management Inc. increased its stake in shares of PepsiCo Inc. (NYSE:PEP) by 51.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,060 shares of the company’s stock after buying an additional 6,156 shares during the period. Highstreet Asset Management Inc.’s holdings in PepsiCo were worth $1,913,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. BlackRock Fund Advisors raised 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 valued at $2,055,547,000 after buying an additional 543,183 shares during the last quarter. Credit Agricole S A raised its stake in PepsiCo by 3.9% in the first quarter. Credit Agricole S A now owns 2,119,767 shares of the company’s stock valued at $217,235,000 after buying an additional 80,183 shares during the last quarter. AMP Capital Investors Ltd raised its stake in PepsiCo by 7.9% in the first quarter. AMP Capital Investors Ltd now owns 956,160 shares of the company’s stock valued at $98,191,000 after buying an additional 70,410 shares during the last quarter. BlackRock Japan Co. Ltd raised its stake in PepsiCo by 4.3% in the first quarter. BlackRock Japan Co. Ltd now owns 1,912,976 shares of the company’s stock valued at $196,042,000 after buying an additional 78,848 shares during the last quarter. Finally, 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 valued at $86,419,000 after buying an additional 800,747 shares during the last quarter. 70.04% of the stock is owned by institutional investors and hedge funds.
PepsiCo Inc. (NYSE:PEP) traded up 0.09% during mid-day trading on Tuesday, reaching $106.95. 3,850,027 shares of the company traded hands. PepsiCo Inc. has a one year low of $93.25 and a one year high of $110.94. The stock’s 50-day moving average price is $106.64 and its 200-day moving average price is $105.58. The firm has a market cap of $153.39 billion, a PE ratio of 23.46 and a beta of 0.46.
PepsiCo (NYSE:PEP) last released its quarterly earnings data on Thursday, September 29th. The company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.08. The company earned $16 billion during the quarter. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. PepsiCo’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.35 earnings per share. Analysts forecast that PepsiCo Inc. will post $4.79 earnings per share for the current fiscal year.
PEP has been the subject of a number of research analyst reports. Bank of America Corp. reissued a “buy” rating and set a $120.00 price target on shares of PepsiCo in a research note on Thursday, September 22nd. Credit Agricole SA reissued an “outperform” rating on shares of PepsiCo in a research note on Monday, August 22nd. Credit Suisse Group AG initiated coverage on PepsiCo in a research note on Thursday, September 15th. They set 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 research note on Wednesday, September 7th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $120.00 price target on shares of PepsiCo in a research note on Monday, October 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. PepsiCo has an average rating of “Buy” and an average target price 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 transaction of $5,487,000.10. Following the completion of the sale, the executive vice president now owns 164,464 shares in the company, valued at approximately $17,646,987.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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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