Pepsico, Inc. (PEP) Shares Sold by Rosenbaum Jay D.
Rosenbaum Jay D. reduced its stake in shares of Pepsico, Inc. (NYSE:PEP) by 1.7% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,515 shares of the company’s stock after selling 220 shares during the period. Pepsico makes up approximately 2.9% of Rosenbaum Jay D.’s holdings, making the stock its 12th biggest holding. Rosenbaum Jay D.’s holdings in Pepsico were worth $1,445,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Asset Planning Services Ltd. raised its holdings in Pepsico by 66.1% during the 1st quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after buying an additional 399 shares during the period. Riggs Asset Managment Co. Inc. raised its holdings in Pepsico by 14.9% during the 1st 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 during the period. Millie Capital Management LLC acquired a new stake in Pepsico during the 1st quarter worth approximately $202,000. Granite Investment Advisors LLC acquired a new stake in Pepsico during the 1st quarter worth approximately $204,000. Finally, Spectrum Management Group Inc. acquired a new stake in Pepsico during the 1st quarter worth approximately $205,000. Hedge funds and other institutional investors own 70.16% of the company’s stock.
In other news, EVP Mehmood Khan sold 63,396 shares of Pepsico stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the sale, the executive vice president now owns 174,273 shares in the company, valued at approximately $20,283,634.47. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Indra K. Nooyi sold 340,449 shares of Pepsico 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 sale, the chief executive officer now owns 733,315 shares of the company’s stock, valued at approximately $85,372,532.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 898,164 shares of company stock valued at $104,585,929. 0.26% of the stock is owned by corporate insiders.
Pepsico, Inc. (NYSE:PEP) traded down 0.47% during midday trading on Tuesday, reaching $115.15. 1,324,464 shares of the company traded hands. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39. The firm has a market capitalization of $164.15 billion, a price-to-earnings ratio of 24.39 and a beta of 0.68. The firm has a 50-day moving average price of $116.69 and a 200-day moving average price of $114.48.
Pepsico (NYSE:PEP) last issued its earnings results on Tuesday, July 11th. The company reported $1.50 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 business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. During the same quarter last year, the company earned $1.35 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. Equities analysts predict that Pepsico, Inc. will post $5.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a $0.805 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 annualized dividend and a yield of 2.78%. Pepsico’s dividend payout ratio is currently 68.22%.
A number of research firms have recently issued reports on PEP. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a report on Monday, August 28th. 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. Credit Suisse Group downgraded shares of Pepsico from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $126.00 to $124.00 in a report on Friday. Cowen and Company reiterated an “outperform” rating and issued a $128.00 price objective on shares of Pepsico in a report on Thursday, July 13th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating on shares of Pepsico in a report on Wednesday, July 12th. Six investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Pepsico currently has an average rating of “Buy” and an average target price of $123.32.
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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