First Mercantile Trust Co. Has $1.03 Million Position in Pepsico, Inc. (PEP)
First Mercantile Trust Co. cut its stake in shares of Pepsico, Inc. (NYSE:PEP) by 71.2% during the first quarter, Holdings Channel reports. The firm owned 9,238 shares of the company’s stock after selling 22,885 shares during the period. First Mercantile Trust Co.’s holdings in Pepsico were worth $1,033,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of PEP. Asset Planning Services Ltd. boosted its position in Pepsico by 66.1% in the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock valued at $112,000 after buying an additional 399 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in Pepsico during the fourth quarter valued at about $125,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Pepsico by 11,898.4% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146,861 shares of the company’s stock valued at $147,000 after buying an additional 145,637 shares during the period. Israel Discount Bank of New York GFN bought a new position in Pepsico during the fourth quarter valued at about $150,000. Finally, Leith Wheeler Investment Counsel Ltd. bought a new position in Pepsico during the first quarter valued at about $157,000. Institutional investors and hedge funds own 70.31% of the company’s stock.
Shares of Pepsico, Inc. (PEP) opened at 114.93 on Monday. The stock has a market cap of $163.83 billion, a P/E ratio of 24.34 and a beta of 0.67. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $118.24. The company has a 50 day moving average of $116.14 and a 200 day moving average of $110.39.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.35 earnings per share. Equities research analysts expect that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a yield of 2.80%. Pepsico’s dividend payout ratio is currently 68.22%.
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Several research analysts have recently issued reports on the stock. Vetr upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $125.54 price objective for the company in a report on Wednesday, April 26th. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research note on Friday. Susquehanna Bancshares Inc reissued a “positive” rating and set a $133.00 target price (down from $134.00) on shares of Pepsico in a research note on Thursday, July 6th. J P Morgan Chase & Co began coverage on shares of Pepsico in a research note on Tuesday, March 21st. They set an “overweight” rating and a $125.00 target price for the company. Finally, Jefferies Group LLC increased their target price on shares of Pepsico from $120.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $123.04.
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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