Pepsico, Inc. (PEP) Position Lifted by Lodestar Investment Counsel LLC IL
Lodestar Investment Counsel LLC IL boosted its position in Pepsico, Inc. (NYSE:PEP) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,106 shares of the company’s stock after acquiring an additional 1,070 shares during the quarter. Lodestar Investment Counsel LLC IL’s holdings in Pepsico were worth $10,060,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in PEP. Sanders Capital LLC bought a new position in Pepsico in the first quarter valued at approximately $254,277,000. Canada Pension Plan Investment Board increased its stake in Pepsico by 92.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock valued at $371,065,000 after acquiring an additional 1,593,550 shares during the last quarter. Karp Capital Management Corp bought a new position in Pepsico in the first quarter valued at approximately $112,080,000. Pioneer Investment Management Inc. increased its stake in Pepsico by 19.9% in the first quarter. Pioneer Investment Management Inc. now owns 4,414,828 shares of the company’s stock valued at $493,842,000 after acquiring an additional 733,294 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its stake in Pepsico by 73.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,539,600 shares of the company’s stock valued at $172,220,000 after acquiring an additional 650,000 shares during the last quarter. 70.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pepsico, Inc. (NYSE PEP) traded down 0.04% during trading on Monday, hitting $111.80. 1,785,761 shares of the stock traded hands. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $119.39. The firm has a market cap of $159.37 billion, a price-to-earnings ratio of 23.68 and a beta of 0.68. The company has a 50 day moving average price of $116.31 and a 200 day moving average price of $114.69.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. During the same quarter last year, the firm earned $1.35 EPS. The company’s revenue was up 2.0% on a year-over-year basis. Analysts anticipate that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The business 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. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.88%. Pepsico’s dividend payout ratio is 68.22%.
A number of analysts have weighed in on the stock. Stifel Nicolaus reaffirmed a “hold” rating on shares of Pepsico in a research note on Wednesday, May 31st. BMO Capital Markets cut shares of Pepsico from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $118.00 to $120.00 in a research note on Wednesday, June 7th. They noted that the move was a valuation call. Royal Bank Of Canada reaffirmed a “hold” rating and set a $115.00 target price on shares of Pepsico in a research note on Friday, June 30th. BidaskClub cut shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $133.00 target price (down previously from $134.00) on shares of Pepsico in a research note on Thursday, July 6th. Six equities 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. Pepsico currently has a consensus rating of “Buy” and an average price target of $123.75.
In other news, Chairman Indra K. Nooyi sold 452,830 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now directly owns 733,315 shares of the company’s stock, 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 firm’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 of the company’s stock, valued at $8,878,840.49. The disclosure for this sale can be found here. Over the last ninety days, insiders 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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