First National Bank of Omaha Sells 5,643 Shares of Pepsico, Inc. (PEP)
First National Bank of Omaha decreased its position in shares of Pepsico, Inc. (NYSE:PEP) by 2.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,925 shares of the company’s stock after selling 5,643 shares during the period. Pepsico accounts for approximately 1.4% of First National Bank of Omaha’s portfolio, making the stock its 9th largest position. First National Bank of Omaha’s holdings in Pepsico were worth $21,935,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. 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 worth $112,000 after buying an additional 399 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in Pepsico during the fourth quarter worth $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 worth $142,000 after buying an additional 165 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. acquired a new position in Pepsico during the first quarter worth $157,000. Finally, Israel Discount Bank of New York GFN acquired a new position in Pepsico during the fourth quarter worth $150,000. Institutional investors and hedge funds own 70.52% of the company’s stock.
Pepsico, Inc. (NYSE:PEP) traded up 0.11% during mid-day trading on Friday, reaching $116.51. 2,759,739 shares of the company’s stock traded hands. The firm has a market cap of $166.09 billion, a PE ratio of 24.67 and a beta of 0.67. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $118.24. The firm has a 50 day moving average of $115.87 and a 200 day moving average of $112.81.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.10. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.35 earnings per share. Analysts forecast that Pepsico, Inc. will post $5.16 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a $0.805 dividend. This represents a $3.22 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Wednesday, August 30th. Pepsico’s payout ratio is presently 68.22%.
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PEP has been the topic of several recent analyst reports. Vetr upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $125.54 target price on the stock in a report on Wednesday, April 26th. BidaskClub downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Royal Bank Of Canada reiterated a “hold” rating and issued a $115.00 target price on shares of Pepsico in a report on Thursday, May 25th. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $133.00 target price (down previously from $134.00) on shares of Pepsico in a report on Thursday, July 6th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $123.40.
In related news, 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 value of $4,844,670.53. Following the transaction, the senior vice president now directly owns 76,037 shares in the company, valued at $8,878,840.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Indra K. Nooyi sold 340,449 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 733,315 shares in the company, valued at $85,372,532.30. The disclosure for this sale can be found here. Insiders sold 898,164 shares of company stock worth $104,585,929 over the last three months. 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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