Prentiss Smith & Co. Inc. Sells 425 Shares of Pepsico, Inc. (PEP)
Prentiss Smith & Co. Inc. lessened its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 8.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,867 shares of the company’s stock after selling 425 shares during the quarter. Prentiss Smith & Co. Inc.’s holdings in Pepsico were worth $562,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Koshinski Asset Management Inc. grew its stake in shares of Pepsico by 65.1% in the 1st quarter. Koshinski Asset Management Inc. now owns 6,642 shares of the company’s stock worth $743,000 after acquiring an additional 2,619 shares in the last quarter. Quadrant Capital Group LLC grew its stake in shares of Pepsico by 2.3% in the 1st quarter. Quadrant Capital Group LLC now owns 6,629 shares of the company’s stock worth $731,000 after acquiring an additional 147 shares in the last quarter. Mutual of Omaha Bank Wealth Management grew its stake in shares of Pepsico by 0.4% in the 1st quarter. Mutual of Omaha Bank Wealth Management now owns 19,385 shares of the company’s stock worth $2,168,000 after acquiring an additional 75 shares in the last quarter. National Pension Service grew its stake 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. Finally, Carroll Financial Associates Inc. grew its stake in shares of Pepsico by 1.3% in the 1st quarter. Carroll Financial Associates Inc. now owns 22,612 shares of the company’s stock worth $2,529,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 70.06% of the company’s stock.
Pepsico, Inc. (PEP) traded down 0.33% during midday trading on Wednesday, reaching $114.11. 1,044,025 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $116.31 and its 200-day moving average price is $114.69. The stock has a market cap of $162.66 billion, a PE ratio of 24.17 and a beta of 0.68. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39.
Pepsico (NYSE:PEP) last released its quarterly earnings data 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 company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. During the same period last year, the company earned $1.35 EPS. Pepsico’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts predict that Pepsico, Inc. will post $5.16 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.81%. Pepsico’s dividend payout ratio is currently 68.22%.
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PEP has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Credit Suisse Group lowered shares of Pepsico from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $126.00 to $124.00 in a research note on Friday, September 8th. Jefferies Group LLC reiterated a “buy” rating and issued a $130.00 target price (up previously from $127.00) on shares of Pepsico in a research note on Thursday, July 6th. Cowen and Company reiterated an “outperform” rating and issued a $128.00 target price on shares of Pepsico in a research note on Thursday, July 13th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $120.00 target price on shares of Pepsico in a research note on Wednesday, September 6th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $123.44.
In other Pepsico news, SVP Marie T. Gallagher sold 41,489 shares of the business’s 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 directly owns 76,037 shares in the company, valued at approximately $8,878,840.49. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.39, for a total value of $7,378,660.44. Following the sale, the executive vice president now owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 898,164 shares of company stock valued at $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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