Mutual of Omaha Bank Wealth Management Trims Position in Pepsico, Inc. (PEP)
Mutual of Omaha Bank Wealth Management lowered its position in shares of Pepsico, Inc. (NYSE:PEP) by 0.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,360 shares of the company’s stock after selling 25 shares during the period. Pepsico comprises about 0.8% of Mutual of Omaha Bank Wealth Management’s portfolio, making the stock its 28th biggest position. Mutual of Omaha Bank Wealth Management’s holdings in Pepsico were worth $2,236,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Accurate Investment Solutions Inc. grew its position in shares of Pepsico by 0.3% in the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,851 shares of the company’s stock valued at $214,000 after buying an additional 5 shares during the last quarter. Northwest Wealth Management LLC grew its position in shares of Pepsico by 0.4% in the 2nd quarter. Northwest Wealth Management LLC now owns 2,511 shares of the company’s stock valued at $290,000 after buying an additional 11 shares during the last quarter. Gierl Augustine Investment Management Inc grew its position in shares of Pepsico by 0.8% in the 1st quarter. Gierl Augustine Investment Management Inc now owns 1,846 shares of the company’s stock valued at $207,000 after buying an additional 14 shares during the last quarter. Willingdon Wealth Management grew its position in shares of Pepsico by 0.3% in the 1st quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock valued at $714,000 after buying an additional 16 shares during the last quarter. Finally, 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 valued at $263,000 after buying an additional 17 shares during the last quarter. Institutional investors and hedge funds own 70.06% of the company’s stock.
Pepsico, Inc. (NYSE:PEP) traded down 0.25% on Tuesday, reaching $114.70. The company had a trading volume of 1,070,210 shares. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39. The company’s 50 day moving average is $116.37 and its 200-day moving average is $114.66. The firm has a market capitalization of $163.51 billion, a price-to-earnings ratio of 24.29 and a beta of 0.68.
Pepsico (NYSE:PEP) last posted its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.10. The company had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. Pepsico’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $1.35 earnings per share. On average, equities research analysts expect that Pepsico, Inc. will post $5.16 earnings per share 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 paid a $0.805 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.80%. Pepsico’s payout ratio is presently 68.22%.
In other Pepsico news, SVP Marie T. Gallagher sold 41,489 shares of Pepsico stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Indra K. Nooyi sold 452,830 shares of Pepsico stock in a transaction that occurred on Tuesday, July 25th. The shares were 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 $85,387,198.60. The disclosure for this sale can be found here. Insiders sold 898,164 shares of company stock worth $104,585,929 over the last three months. 0.26% of the stock is owned by insiders.
PEP has been the topic of a number of analyst reports. Zacks Investment Research lowered Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Credit Suisse Group lowered Pepsico from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $126.00 to $124.00 in a research report on Friday, September 8th. Jefferies Group LLC reiterated a “buy” rating and issued a $130.00 price target (up previously from $127.00) on shares of Pepsico in a research report on Thursday, July 6th. Cowen and Company reiterated an “outperform” rating and issued a $128.00 price target on shares of Pepsico in a research report on Thursday, July 13th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $120.00 price target on shares of Pepsico in a research report on Wednesday, September 6th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $123.44.
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).
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pepsico, Inc. (NYSE:PEP).
Receive News & Ratings for Pepsico Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pepsico Inc. and related companies with MarketBeat.com's FREE daily email newsletter.