DF Dent & Co. Inc. Continues to Hold Stake in Pepsico, Inc. (NYSE:PEP)
DF Dent & Co. Inc. held its position in Pepsico, Inc. (NYSE:PEP) during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,247 shares of the company’s stock at the end of the first quarter. DF Dent & Co. Inc.’s holdings in Pepsico were worth $587,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Asset Planning Services Ltd. increased 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 in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Pepsico during the fourth quarter valued at $125,000. Riggs Asset Managment Co. Inc. increased its position in Pepsico by 14.9% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after buying an additional 165 shares in the last quarter. Israel Discount Bank of New York GFN bought a new position in Pepsico during the fourth quarter valued at $150,000. Finally, Leith Wheeler Investment Counsel Ltd. bought a new position in Pepsico during the first quarter valued at $157,000. 70.52% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pepsico, Inc. (NYSE PEP) traded down 0.353% during midday trading on Thursday, hitting $116.218. The company had a trading volume of 288,781 shares. The firm has a market capitalization of $165.67 billion, a PE ratio of 24.612 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 $115.89 and a 200 day moving average of $112.69.
Pepsico (NYSE:PEP) last released its earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ 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 return on equity of 59.74% and a net margin of 10.77%. Pepsico’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.35 EPS. On average, analysts expect that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders 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 2.76%. The ex-dividend date is Wednesday, August 30th. Pepsico’s dividend payout ratio (DPR) is 68.22%.
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Several research firms have recently weighed in on PEP. Vetr raised Pepsico from a “hold” rating to a “buy” rating and set a $125.54 target price on the stock in a research report on Wednesday, April 26th. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a research report on Friday, July 14th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $133.00 price objective (down previously from $134.00) on shares of Pepsico in a research report on Thursday, July 6th. Jefferies Group LLC upped their price objective on Pepsico from $120.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. Finally, BMO Capital Markets downgraded Pepsico from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $118.00 to $120.00 in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Pepsico currently has a consensus rating of “Buy” and an average price target of $123.04.
In other Pepsico news, Chairman Indra K. Nooyi sold 452,830 shares of Pepsico stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the completion of the sale, the chairman now directly owns 733,315 shares of the company’s stock, valued at approximately $85,387,198.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Marie T. Gallagher sold 41,489 shares of Pepsico stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.77, for a total value of $4,844,670.53. Following the sale, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The disclosure for this sale can be found here. Insiders have sold a total of 898,164 shares of company stock valued at $104,585,929 over the last ninety days. 0.26% of the stock is owned by company insiders.
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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