Meyer Handelman Co. Sells 2,300 Shares of Pepsico, Inc. (PEP)
Meyer Handelman Co. lowered its position in Pepsico, Inc. (NYSE:PEP) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 390,553 shares of the company’s stock after selling 2,300 shares during the period. Pepsico comprises about 1.9% of Meyer Handelman Co.’s holdings, making the stock its 9th largest position. Meyer Handelman Co.’s holdings in Pepsico were worth $45,104,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. 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 valued at $112,000 after buying an additional 399 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in Pepsico during the fourth quarter valued at approximately $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 valued at $142,000 after buying an additional 165 shares in the last quarter. Israel Discount Bank of New York GFN bought a new position in Pepsico during the fourth quarter valued at approximately $150,000. Finally, Leith Wheeler Investment Counsel Ltd. bought a new position in Pepsico during the first quarter valued at approximately $157,000. Institutional investors and hedge funds own 70.19% of the company’s stock.
Pepsico, Inc. (NYSE PEP) traded down 0.369% on Wednesday, hitting $117.485. 1,021,063 shares of the stock were exchanged. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. The company has a 50-day moving average price of $116.24 and a 200-day moving average price of $113.56. The firm has a market cap of $167.48 billion, a PE ratio of 24.880 and a beta of 0.67.
Pepsico (NYSE:PEP) last released its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. During the same quarter last year, the business posted $1.35 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Wednesday, August 30th. Pepsico’s dividend payout ratio is currently 68.22%.
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PEP has been the topic of several research reports. BMO Capital Markets reiterated a “buy” rating and issued a $115.00 price objective on shares of Pepsico in a report on Thursday, April 27th. Jefferies Group LLC reiterated a “buy” rating and issued a $127.00 price objective on shares of Pepsico in a report on Friday, May 19th. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Vetr upgraded shares of Pepsico from a “buy” rating to a “strong-buy” rating and set a $125.54 price objective on the stock in a report on Wednesday, May 3rd. Finally, Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $134.00 price objective (up from $132.00) on shares of Pepsico in a report on Monday, May 1st. Four investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $123.61.
In related 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 completion of the sale, the senior vice president now owns 76,037 shares in the company, valued at $8,878,840.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $52,727,525.20. Following the sale, the chairman now owns 733,315 shares of the company’s stock, valued at approximately $85,387,198.60. The disclosure for this sale can be found here. Insiders have sold 898,164 shares of company stock valued at $104,585,929 in the last quarter. 0.26% of the stock is currently owned by company insiders.
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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