Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 14,078 Shares of Pepsico, Inc. (NYSE:PEP)
Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its position in shares of Pepsico, Inc. (NYSE:PEP) by 4.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 272,591 shares of the company’s stock after selling 14,078 shares during the period. Pepsico comprises about 0.7% of Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings, making the stock its 29th largest position. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Pepsico were worth $30,492,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Asset Planning Services Ltd. boosted 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 worth $112,000 after buying an additional 399 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Pepsico during the fourth quarter worth approximately $125,000. Riggs Asset Managment Co. Inc. boosted its position in shares of Pepsico by 14.9% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after buying an additional 165 shares during the last quarter. Israel Discount Bank of New York GFN acquired a new position in shares of Pepsico during the fourth quarter worth approximately $150,000. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of Pepsico during the first quarter worth approximately $157,000. 70.52% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pepsico, Inc. (PEP) opened at 116.37 on Monday. The stock has a market capitalization of $165.89 billion, a price-to-earnings ratio of 24.64 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 firm’s 50 day moving average is $116.01 and its 200 day moving average is $112.24.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The company 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 business posted $1.35 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts predict that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a $0.805 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.77%. Pepsico’s payout ratio is 68.22%.
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PEP has been the topic of a number of recent research reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $127.00 target price on shares of Pepsico in a report on Friday, May 19th. Credit Suisse Group reaffirmed a “buy” rating on shares of Pepsico in a report on Thursday, April 27th. BMO Capital Markets reaffirmed a “buy” rating and issued a $115.00 target price on shares of Pepsico in a report on Thursday, April 27th. Vetr raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $125.54 target price on the stock in a report on Wednesday, April 26th. Finally, Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 target price on the stock in a report on Friday, July 14th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $123.04.
In other news, Chairman Indra K. Nooyi sold 452,830 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total value of $52,727,525.20. Following the completion of the transaction, the chairman now owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Indra K. Nooyi sold 340,449 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.42, for a total value of $39,635,072.58. Following the completion of the transaction, the chief executive officer now directly owns 733,315 shares of the company’s stock, valued at approximately $85,372,532.30. The disclosure for this sale can be found here. In the last three months, insiders sold 856,675 shares of company stock valued at $99,741,258. Company insiders own 0.26% of the company’s stock.
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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