Crossvault Capital Management LLC Decreases Stake in Pepsico, Inc. (PEP)
Crossvault Capital Management LLC lowered its stake in Pepsico, Inc. (NYSE:PEP) by 0.6% during the first quarter, Holdings Channel reports. The fund owned 22,182 shares of the company’s stock after selling 141 shares during the period. Pepsico makes up 1.5% of Crossvault Capital Management LLC’s portfolio, making the stock its 25th largest position. Crossvault Capital Management LLC’s holdings in Pepsico were worth $2,481,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Pepsico during the fourth quarter valued at about $1,492,411,000. Asset Management One Co. Ltd. raised its position in shares of Pepsico by 692.2% in the fourth quarter. Asset Management One Co. Ltd. now owns 2,564,260 shares of the company’s stock valued at $268,372,000 after buying an additional 2,240,572 shares during the last quarter. Fiera Capital Corp raised its position in shares of Pepsico by 217.7% in the fourth quarter. Fiera Capital Corp now owns 2,417,934 shares of the company’s stock valued at $252,989,000 after buying an additional 1,656,939 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Pepsico by 179.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,276,462 shares of the company’s stock valued at $238,186,000 after buying an additional 1,462,000 shares during the last quarter. Finally, Bank of Montreal Can raised its position in shares of Pepsico by 16.6% in the first quarter. Bank of Montreal Can now owns 5,812,519 shares of the company’s stock valued at $650,189,000 after buying an additional 827,376 shares during the last quarter. 70.40% of the stock is currently owned by institutional investors.
Shares of Pepsico, Inc. (NYSE:PEP) opened at 115.34 on Thursday. The company has a 50-day moving average of $116.13 and a 200-day moving average of $111.37. The firm has a market cap of $164.42 billion, a P/E ratio of 24.43 and a beta of 0.67. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $118.24. Pepsico also was the recipient of unusually large options trading activity on Wednesday. Traders bought 1,176 call options on the stock. This represents an increase of approximately 536% compared to the average daily volume of 185 call options.
Pepsico (NYSE:PEP) last posted its earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.40 by $0.10. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. During the same quarter in the prior year, the firm earned $1.35 EPS. Pepsico’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts forecast that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, August 30th. Pepsico’s dividend payout ratio (DPR) is 68.22%.
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Several equities research analysts have recently weighed in on the stock. Credit Suisse Group increased their target price on shares of Pepsico from $115.00 to $121.00 and gave the stock a “buy” rating in a research note on Thursday, March 23rd. Zacks Investment Research downgraded shares of Pepsico from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. BMO Capital Markets reiterated a “buy” rating and set a $115.00 target price on shares of Pepsico in a research note on Thursday, April 27th. Jefferies Group LLC reiterated a “buy” rating and set a $127.00 target price on shares of Pepsico in a research note on Friday, May 19th. Finally, Susquehanna Bancshares Inc upgraded shares of Pepsico from a “neutral” rating to a “positive” rating and increased their target price for the stock from $118.00 to $132.00 in a research note on Wednesday, April 12th. Five analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $123.04.
Pepsico Company Profile
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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