Richard Bernstein Advisors LLC Holds Stake in Pepsico, Inc. (NYSE:PEP)
Richard Bernstein Advisors LLC maintained its position in Pepsico, Inc. (NYSE:PEP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,191 shares of the company’s stock at the end of the first quarter. Richard Bernstein Advisors LLC’s holdings in Pepsico were worth $2,706,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of PEP. Norges Bank purchased a new position in Pepsico during the fourth quarter valued at approximately $1,492,411,000. Fiera Capital Corp boosted 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 worth $252,989,000 after buying an additional 1,656,939 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of Pepsico by 92.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock worth $371,065,000 after buying an additional 1,593,550 shares during the last quarter. Karp Capital Management Corp bought a new position in shares of Pepsico during the first quarter worth about $112,080,000. Finally, Bank of Montreal Can boosted 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 worth $650,189,000 after buying an additional 827,376 shares during the last quarter. 70.52% of the stock is owned by hedge funds and other institutional investors.
Shares of Pepsico, Inc. (NYSE:PEP) opened at 116.37 on Monday. The company’s 50-day moving average price is $116.01 and its 200-day moving average price is $112.24. The firm has a market capitalization of $165.89 billion, a PE 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.
Pepsico (NYSE:PEP) last posted its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. Pepsico’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $1.35 earnings per share. Analysts anticipate that Pepsico, Inc. will post $5.16 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a dividend of $0.805 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a yield of 2.77%. Pepsico’s dividend payout ratio (DPR) is currently 68.22%.
A number of equities analysts have recently issued reports on PEP shares. Zacks Investment Research cut Pepsico from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. BMO Capital Markets reissued a “buy” rating and issued a $115.00 target price on shares of Pepsico in a report on Thursday, April 27th. Jefferies Group LLC reissued a “buy” rating and issued a $127.00 target price on shares of Pepsico in a report on Friday, May 19th. Susquehanna Bancshares Inc raised 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 report on Wednesday, April 12th. Finally, Vetr raised Pepsico from a “buy” rating to a “strong-buy” rating and set a $125.54 target price for the company in a report on Wednesday, May 3rd. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $123.04.
In other Pepsico news, CEO Indra K. Nooyi sold 340,449 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the sale, the chief executive officer now owns 733,315 shares of the company’s stock, valued at $85,372,532.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Indra K. Nooyi sold 452,830 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the sale, the chairman now directly owns 733,315 shares in the company, valued at approximately $85,387,198.60. The disclosure for this sale can be found here. Insiders have sold 856,675 shares of company stock worth $99,741,258 in the last ninety days. Insiders own 0.26% of the company’s stock.
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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