PepsiCo, Inc. (NYSE:PEP) Position Reduced by River Road Asset Management LLC
River Road Asset Management LLC decreased its stake in PepsiCo, Inc. (NYSE:PEP) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 388,877 shares of the company’s stock after selling 11,020 shares during the period. River Road Asset Management LLC’s holdings in PepsiCo were worth $43,500,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Asset Planning Services Ltd. raised its position in shares of 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 acquired a new stake in PepsiCo during the fourth quarter valued at about $125,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its stake 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 in the last quarter. Israel Discount Bank of New York GFN acquired a new stake in PepsiCo during the fourth quarter valued at about $150,000. Finally, Leith Wheeler Investment Counsel Ltd. purchased a new position in shares of PepsiCo during the first quarter valued at $157,000. 70.40% of the stock is owned by hedge funds and other institutional investors.
PepsiCo, Inc. (PEP) opened at 114.93 on Tuesday. The firm’s 50-day moving average price is $116.14 and its 200-day moving average price is $110.39. PepsiCo, Inc. has a 52-week low of $98.50 and a 52-week high of $118.24. The firm has a market cap of $163.83 billion, a P/E ratio of 24.34 and a beta of 0.68.
PepsiCo (NYSE:PEP) last announced its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.10. The company had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $15.57 billion. PepsiCo had a return on equity of 75.35% and a net margin of 13.48%. PepsiCo’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.35 earnings per share. Equities research analysts expect that PepsiCo, Inc. will post $5.16 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a dividend of $0.805 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.80%. PepsiCo’s payout ratio is 68.22%.
Several brokerages have recently weighed in on PEP. Stifel Nicolaus restated a “hold” rating on shares of PepsiCo in a research note on Wednesday, May 31st. BMO Capital Markets cut shares of PepsiCo from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $118.00 to $120.00 in a report on Wednesday, June 7th. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “hold” rating and set a $115.00 target price on shares of PepsiCo in a report on Thursday, May 25th. BidaskClub cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $130.00 price objective (up previously from $127.00) on shares of PepsiCo in a report on Thursday, July 6th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target 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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