Private Asset Management Inc. Decreases Stake in Pepsico, Inc. (PEP)
Private Asset Management Inc. decreased its position in Pepsico, Inc. (NYSE:PEP) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,692 shares of the company’s stock after selling 533 shares during the quarter. Private Asset Management Inc.’s holdings in Pepsico were worth $6,894,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. National Pension Service grew its position in shares of Pepsico by 2.0% in the 1st quarter. National Pension Service now owns 945,000 shares of the company’s stock worth $106,010,000 after acquiring an additional 18,835 shares in the last quarter. Univest Corp of Pennsylvania grew its position in shares of Pepsico by 0.7% in the 1st quarter. Univest Corp of Pennsylvania now owns 2,350 shares of the company’s stock worth $263,000 after acquiring an additional 17 shares in the last quarter. Hays Advisory LLC grew its position in shares of Pepsico by 11.6% in the 1st quarter. Hays Advisory LLC now owns 2,244 shares of the company’s stock worth $251,000 after acquiring an additional 233 shares in the last quarter. Ledyard National Bank grew its position in shares of Pepsico by 9.2% in the 1st quarter. Ledyard National Bank now owns 55,779 shares of the company’s stock worth $6,240,000 after acquiring an additional 4,720 shares in the last quarter. Finally, HPM Partners LLC acquired a new position in shares of Pepsico in the 1st quarter worth approximately $8,946,000. Institutional investors own 70.16% of the company’s stock.
Several research analysts have recently commented on PEP shares. Jefferies Group LLC reiterated a “buy” rating and issued a $127.00 target price on shares of Pepsico in a research report on Friday, May 19th. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research report on Friday, July 14th. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Stifel Nicolaus reiterated a “hold” rating on shares of Pepsico in a research report on Wednesday, May 31st. Finally, Royal Bank Of Canada reiterated a “hold” rating and issued a $115.00 target price on shares of Pepsico in a research report on Thursday, May 25th. Six 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 company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $123.44.
Shares of Pepsico, Inc. (NYSE:PEP) traded up 0.43% during mid-day trading on Friday, hitting $114.68. The company had a trading volume of 2,540,325 shares. The firm has a market cap of $163.48 billion, a PE ratio of 24.29 and a beta of 0.68. The firm’s 50 day moving average is $116.49 and its 200-day moving average is $114.52. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39. Pepsico also saw some unusual options trading on Wednesday. Stock traders acquired 1,176 call options on the stock. This represents an increase of 536% compared to the typical daily 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, beating 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 company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. During the same period in the prior year, the company posted $1.35 EPS. The company’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts expect 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 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 dividend yield of 2.82%. Pepsico’s dividend payout ratio is currently 68.22%.
In other news, Chairman Indra K. Nooyi sold 452,830 shares of the company’s stock in a transaction that occurred on 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 directly owns 733,315 shares in the company, valued at approximately $85,387,198.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 76,037 shares in the company, valued at $8,878,840.49. The disclosure for this sale can be found here. Over the last quarter, insiders sold 898,164 shares of company stock worth $104,585,929. Corporate insiders own 0.26% of the company’s stock.
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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