MEMBERS Trust Co Acquires New Position in Pepsico, Inc. (NYSE:PEP)
MEMBERS Trust Co acquired a new stake in shares of Pepsico, Inc. (NYSE:PEP) during the first quarter, according to its most recent disclosure with the SEC. The fund acquired 6,648 shares of the company’s stock, valued at approximately $744,000. Pepsico comprises 0.0% of MEMBERS Trust Co’s holdings, making the stock its 29th largest position.
Several other hedge funds have also modified their holdings of PEP. Asset Planning Services Ltd. raised its stake 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 valued at $112,000 after buying an additional 399 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in shares of Pepsico during the fourth quarter valued at approximately $125,000. Riggs Asset Managment Co. Inc. raised its stake 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 valued at $142,000 after buying an additional 165 shares in the last quarter. Israel Discount Bank of New York GFN acquired a new stake in shares of Pepsico during the fourth quarter valued at approximately $150,000. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new stake in shares of Pepsico during the first quarter valued at approximately $157,000. Hedge funds and other institutional investors own 70.52% of the company’s stock.
Pepsico, Inc. (NYSE:PEP) traded up 0.73% during midday trading on Friday, hitting $117.23. The stock had a trading volume of 541,071 shares. The stock has a market cap of $167.11 billion, a price-to-earnings ratio of 24.83 and a beta of 0.67. The stock has a 50 day moving average of $115.86 and a 200 day moving average of $112.72. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $118.24.
Pepsico (NYSE:PEP) last announced its earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates 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 prior year, the company earned $1.35 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.805 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 annualized dividend and a yield of 2.77%. Pepsico’s dividend payout ratio is currently 68.22%.
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A number of equities analysts recently issued reports on the company. Jefferies Group LLC raised their target price on Pepsico from $120.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Credit Suisse Group restated a “buy” rating on shares of Pepsico in a research note on Thursday, April 27th. BMO Capital Markets restated a “buy” rating and issued a $115.00 target price on shares of Pepsico in a research note on Thursday, April 27th. Vetr upgraded Pepsico from a “hold” rating to a “buy” rating and set a $125.54 target price for the company in a research note on Wednesday, April 26th. Finally, Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research note 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 stock. The stock currently has a consensus rating of “Buy” and an average price target of $123.40.
In related news, EVP Mehmood Khan sold 63,396 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the transaction, the executive vice president now directly owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the transaction, 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 898,164 shares of company stock valued at $104,585,929 over the last three months. 0.26% of the stock is currently owned by corporate 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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