Pepsico, Inc. (PEP) Stake Decreased by Sadoff Investment Management LLC
Sadoff Investment Management LLC cut its position in shares of Pepsico, Inc. (NYSE:PEP) by 20.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,959 shares of the company’s stock after selling 500 shares during the quarter. Sadoff Investment Management LLC’s holdings in Pepsico were worth $226,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Accurate Investment Solutions Inc. increased its position in shares of Pepsico by 0.3% during the second quarter. Accurate Investment Solutions Inc. now owns 1,851 shares of the company’s stock worth $214,000 after buying an additional 5 shares during the period. Northwest Wealth Management LLC increased its position in shares of Pepsico by 0.4% during the second quarter. Northwest Wealth Management LLC now owns 2,511 shares of the company’s stock worth $290,000 after buying an additional 11 shares during the period. Gierl Augustine Investment Management Inc increased its position in shares of Pepsico by 0.8% during the first quarter. Gierl Augustine Investment Management Inc now owns 1,846 shares of the company’s stock worth $207,000 after buying an additional 14 shares during the period. Willingdon Wealth Management increased its position in shares of Pepsico by 0.3% during the first quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock worth $714,000 after buying an additional 16 shares during the period. Finally, Univest Corp of Pennsylvania increased its position in shares of Pepsico by 0.7% during the first quarter. Univest Corp of Pennsylvania now owns 2,350 shares of the company’s stock worth $263,000 after buying an additional 17 shares during the period. Institutional investors own 70.06% of the company’s stock.
Shares of Pepsico, Inc. (PEP) traded down 0.59% on Friday, hitting $112.14. 1,573,497 shares of the stock were exchanged. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $119.39. The company has a 50-day moving average price of $116.31 and a 200 day moving average price of $114.69. The company has a market cap of $159.86 billion, a PE ratio of 23.75 and a beta of 0.68.
Pepsico (NYSE:PEP) last released its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.10. The firm had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.35 EPS. Equities analysts forecast 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. Stockholders of record on Friday, September 1st will be given a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Wednesday, August 30th. Pepsico’s dividend payout ratio is presently 68.22%.
In other news, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction dated 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 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 Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Indra K. Nooyi sold 452,830 shares of the company’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the completion of 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 a total of 898,164 shares of company stock worth $104,585,929 over the last ninety days. Insiders own 0.26% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Cowen and Company reiterated a “buy” rating on shares of Pepsico in a research report on Sunday, September 17th. Macquarie assumed coverage on shares of Pepsico in a research report on Thursday, September 14th. They set an “outperform” rating and a $125.00 price objective for the company. Credit Suisse Group cut shares of Pepsico from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $126.00 to $124.00 in a research report on Friday, September 8th. Royal Bank Of Canada reiterated a “hold” rating and set a $115.00 price objective on shares of Pepsico in a research report on Wednesday, September 6th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $120.00 price objective on shares of Pepsico in a research report on Wednesday, September 6th. 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 company presently has a consensus rating of “Buy” and an average target price of $123.75.
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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