Pepsico, Inc. (PEP) Shares Sold by Cape ANN Savings Bank
Cape ANN Savings Bank lowered its position in shares of Pepsico, Inc. (NYSE:PEP) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 17,148 shares of the company’s stock after selling 35 shares during the period. Pepsico comprises approximately 2.6% of Cape ANN Savings Bank’s portfolio, making the stock its 12th largest position. Cape ANN Savings Bank’s holdings in Pepsico were worth $1,981,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Pepsico during the fourth quarter worth approximately $1,492,411,000. Sanders Capital LLC purchased a new position in shares of Pepsico during the first quarter worth approximately $254,277,000. Canada Pension Plan Investment Board boosted its position in shares of Pepsico by 92.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock worth $371,065,000 after buying an additional 1,593,550 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of Pepsico during the first quarter worth approximately $112,080,000. Finally, Bank of Montreal Can boosted its position in shares of Pepsico by 16.6% in the first quarter. Bank of Montreal Can now owns 5,812,519 shares of the company’s stock worth $650,189,000 after buying an additional 827,376 shares during the last quarter. 70.19% of the stock is owned by institutional investors and hedge funds.
Pepsico, Inc. (NYSE:PEP) traded down 0.67% during midday trading on Friday, reaching $117.60. The company’s stock had a trading volume of 3,776,515 shares. The firm’s 50-day moving average price is $116.16 and its 200-day moving average price is $113.32. The stock has a market capitalization of $167.64 billion, a PE ratio of 24.90 and a beta of 0.67. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $119.39. Pepsico also was the recipient of unusually large options trading activity on Wednesday. Stock traders acquired 1,176 call options on the stock. This represents an increase of approximately 536% compared to the average volume of 185 call options.
Pepsico (NYSE:PEP) last released its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.10. The firm 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%. Pepsico’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 earnings per share. On average, analysts anticipate that Pepsico, Inc. will post $5.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be paid 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 2.74%. Pepsico’s dividend payout ratio (DPR) is 68.22%.
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Several equities research analysts recently commented on the company. BMO Capital Markets reaffirmed a “buy” rating and issued a $115.00 price target on shares of Pepsico in a report on Thursday, April 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $127.00 price target on shares of Pepsico in a report on Friday, May 19th. Vetr raised Pepsico from a “buy” rating to a “strong-buy” rating and set a $125.54 price target for the company in a report on Wednesday, May 3rd. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a report on Friday, July 14th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $134.00 price target (up previously from $132.00) on shares of Pepsico in a report on Monday, May 1st. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $123.40.
In related news, 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 transaction of $39,635,072.58. Following the sale, the chief executive officer now owns 733,315 shares in the company, valued at $85,372,532.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Indra K. Nooyi sold 452,830 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the sale, the chairman now owns 733,315 shares in the company, valued at approximately $85,387,198.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 898,164 shares of company stock worth $104,585,929. 0.26% of the stock is owned by company 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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