Rehmann Capital Advisory Group Lowers Position in Pepsico, Inc. (NYSE:PEP)
Rehmann Capital Advisory Group decreased its stake in shares of Pepsico, Inc. (NYSE:PEP) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 263,546 shares of the company’s stock after selling 2,272 shares during the period. Pepsico accounts for about 5.8% of Rehmann Capital Advisory Group’s holdings, making the stock its largest position. Rehmann Capital Advisory Group’s holdings in Pepsico were worth $30,437,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the stock. Franklin Resources Inc. boosted its position in Pepsico by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 15,671,152 shares of the company’s stock valued at $1,639,677,000 after buying an additional 340,666 shares during the last quarter. Norges Bank bought a new position in Pepsico during the fourth quarter valued at $1,492,411,000. Schwab Charles Investment Management Inc. boosted its position in Pepsico by 3.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 7,543,614 shares of the company’s stock valued at $843,829,000 after buying an additional 280,480 shares during the last quarter. Bank of Montreal Can boosted its position in 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. Finally, Fisher Asset Management LLC boosted its position in Pepsico by 5.0% in the second quarter. Fisher Asset Management LLC now owns 5,775,278 shares of the company’s stock valued at $666,987,000 after buying an additional 277,607 shares during the last quarter. 70.52% of the stock is owned by institutional investors.
Pepsico, Inc. (PEP) traded down 0.02% during midday trading on Thursday, hitting $116.61. 625,536 shares of the stock traded hands. The stock has a 50-day moving average of $115.89 and a 200 day moving average of $112.69. The firm has a market cap of $166.23 billion, a PE ratio of 24.70 and a beta of 0.67. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $118.24.
Pepsico (NYSE:PEP) last announced its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ 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 analyst estimates of $15.57 billion. During the same quarter in the prior year, the firm posted $1.35 earnings per share. 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 year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.805 dividend. This represents a $3.22 dividend on an annualized basis 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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PEP has been the subject of several research analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $133.00 target price (up from $130.00) on shares of Pepsico in a research note on Wednesday, July 12th. BidaskClub cut shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Vetr raised shares of Pepsico from a “buy” rating to a “strong-buy” rating and set a $125.54 target price for the company in a research note on Wednesday, May 3rd. Royal Bank Of Canada set a $115.00 target price on shares of Pepsico and gave the company a “hold” rating in a research note on Monday, April 24th. Finally, UBS AG raised shares of Pepsico from a “neutral” rating to a “positive” rating in a research note on Wednesday, April 12th. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $123.04.
In related news, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the sale, the executive vice president now owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. Insiders sold 898,164 shares of company stock valued at $104,585,929 in the last three months. 0.26% of the stock is currently owned by insiders.
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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