Pepsico, Inc. (PEP) Position Boosted by Flagship Harbor Advisors LLC
Flagship Harbor Advisors LLC raised its stake in shares of Pepsico, Inc. (NYSE:PEP) by 21.0% during the first quarter, Holdings Channel reports. The firm owned 7,682 shares of the company’s stock after buying an additional 1,335 shares during the period. Flagship Harbor Advisors LLC’s holdings in Pepsico were worth $859,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of PEP. Sterling Investment Advisors Ltd. boosted its stake in Pepsico by 0.3% in the first quarter. Sterling Investment Advisors Ltd. now owns 15,560 shares of the company’s stock valued at $1,741,000 after buying an additional 50 shares during the period. Edgestream Partners L.P. boosted its stake in Pepsico by 317.9% in the first quarter. Edgestream Partners L.P. now owns 27,675 shares of the company’s stock valued at $3,096,000 after buying an additional 21,052 shares during the period. Shelton Capital Management boosted its stake in Pepsico by 51.2% in the first quarter. Shelton Capital Management now owns 46,056 shares of the company’s stock valued at $5,152,000 after buying an additional 15,586 shares during the period. New England Asset Management Inc. boosted its stake in Pepsico by 23.1% in the first quarter. New England Asset Management Inc. now owns 42,676 shares of the company’s stock valued at $4,773,000 after buying an additional 7,997 shares during the period. Finally, Day & Ennis LLC boosted its stake in Pepsico by 2.1% in the first quarter. Day & Ennis LLC now owns 4,244 shares of the company’s stock valued at $475,000 after buying an additional 88 shares during the period. Institutional investors own 70.52% of the company’s stock.
Pepsico, Inc. (PEP) traded up 0.11% during trading on Friday, reaching $116.51. The company had a trading volume of 2,759,739 shares. The company has a market capitalization of $166.09 billion, a P/E ratio of 24.67 and a beta of 0.67. The stock has a 50 day moving average of $115.87 and a 200-day moving average of $112.81. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $118.24.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.35 EPS. Equities research analysts expect that Pepsico, Inc. will post $5.16 EPS for the current fiscal 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 issued a dividend of $0.805 per share. 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 68.22%.
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Several analysts have commented on the company. Zacks Investment Research cut Pepsico from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cowen and Company restated an “outperform” rating and issued a $128.00 price target on shares of Pepsico in a report on Thursday, July 13th. Jefferies Group LLC restated a “buy” rating and issued a $133.00 price target (up previously from $130.00) on shares of Pepsico in a report on Wednesday, July 12th. Credit Suisse Group lifted their price target on Pepsico from $124.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, July 12th. Finally, J P Morgan Chase & Co restated an “overweight” rating on shares of Pepsico in a report on Wednesday, July 12th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $123.40.
In other news, 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 owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Indra K. Nooyi sold 340,449 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.42, for a total value of $39,635,072.58. Following the transaction, the chief executive officer now directly owns 733,315 shares in the company, valued at approximately $85,372,532.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 898,164 shares of company stock worth $104,585,929. 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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