Pepsico, Inc. (NYSE:PEP) Shares Sold by Maple Capital Management Inc.
Maple Capital Management Inc. lowered its position in shares of Pepsico, Inc. (NYSE:PEP) by 5.7% during the second quarter, Holdings Channel reports. The firm owned 66,294 shares of the company’s stock after selling 3,977 shares during the period. Pepsico comprises approximately 2.2% of Maple Capital Management Inc.’s investment portfolio, making the stock its 16th largest position. Maple Capital Management Inc.’s holdings in Pepsico were worth $7,656,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Gierl Augustine Investment Management Inc increased its position in shares of Pepsico by 0.8% in the first quarter. Gierl Augustine Investment Management Inc now owns 1,846 shares of the company’s stock worth $207,000 after buying an additional 14 shares during the period. Willingdon Wealth Management increased its position in shares of Pepsico by 0.3% in the first quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock worth $714,000 after buying an additional 16 shares during the period. Univest Corp of Pennsylvania increased its position in shares of Pepsico by 0.7% in the first quarter. Univest Corp of Pennsylvania now owns 2,350 shares of the company’s stock worth $263,000 after buying an additional 17 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Pepsico by 0.7% in the first quarter. SRS Capital Advisors Inc. now owns 2,710 shares of the company’s stock worth $303,000 after buying an additional 20 shares during the period. Finally, Alexandria Capital LLC increased its position in shares of Pepsico by 0.5% in the first quarter. Alexandria Capital LLC now owns 4,160 shares of the company’s stock worth $465,000 after buying an additional 21 shares during the period. Institutional investors own 70.52% of the company’s stock.
Shares of Pepsico, Inc. (NYSE:PEP) traded down 0.02% during mid-day trading on Thursday, hitting $116.61. 625,536 shares of the stock were exchanged. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $118.24. The stock’s 50-day moving average price is $115.89 and its 200-day moving average price is $112.69. The company has a market cap of $166.23 billion, a P/E ratio of 24.70 and a beta of 0.67.
Pepsico (NYSE:PEP) last announced its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating 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 business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. During the same period in the previous year, the business posted $1.35 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be paid a $0.805 dividend. This represents a $3.22 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, August 30th. Pepsico’s dividend payout ratio is currently 68.22%.
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A number of research analysts recently weighed in on the stock. Jefferies Group LLC increased their price objective on shares of Pepsico from $120.00 to $127.00 and gave the company a “buy” rating in a research report on Wednesday, April 19th. UBS AG upgraded shares of Pepsico from a “neutral” rating to a “positive” rating in a research report on Wednesday, April 12th. BMO Capital Markets downgraded shares of Pepsico from an “outperform” rating to a “market perform” rating and increased 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. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada restated a “hold” rating and set a $115.00 price objective on shares of Pepsico in a research report on Thursday, May 25th. Six research 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 company has a consensus rating of “Buy” and a consensus target price of $123.04.
In related news, Chairman Indra K. Nooyi sold 452,830 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were 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 directly owns 733,315 shares in the company, valued at approximately $85,387,198.60. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the completion of the transaction, the senior vice president now owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The disclosure for this sale can be found here. Over the last quarter, insiders sold 898,164 shares of company stock valued at $104,585,929. Company 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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