Pepsico, Inc. (PEP) Holdings Reduced by Winslow Evans & Crocker Inc.
Winslow Evans & Crocker Inc. lessened its position in Pepsico, Inc. (NYSE:PEP) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,798 shares of the company’s stock after selling 174 shares during the period. Winslow Evans & Crocker Inc.’s holdings in Pepsico were worth $901,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of PEP. Sanders Capital LLC bought a new stake 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 purchasing an additional 1,593,550 shares in the last quarter. Karp Capital Management Corp bought a new stake 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 purchasing an additional 733,294 shares in 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 purchasing an additional 650,000 shares in the last quarter. 70.17% of the stock is owned by hedge funds and other institutional investors.
Pepsico (NYSE:PEP) last released its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. The firm had revenue of $16.24 billion during the quarter, compared to analyst estimates of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 earnings per share.
PEP has been the subject of several recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $133.00 target price (up previously from $130.00) on shares of Pepsico in a research note on Wednesday, July 12th. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research note on Friday, July 14th. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Cowen and Company reaffirmed a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Finally, Susquehanna Bancshares Inc reaffirmed a “buy” rating and issued a $135.00 target price on shares of Pepsico in a research note on Monday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, ten 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 an average target price of $121.80.
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In related news, CEO Indra K. Nooyi sold 340,449 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.42, for a total value of $39,635,072.58. Following the completion of the sale, the chief executive officer now owns 733,315 shares of the company’s stock, valued at $85,372,532.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Indra K. Nooyi sold 452,830 shares of the firm’s stock in a transaction 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 919,613 shares of company stock valued at $106,956,258. 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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