Park Avenue Securities LLC Buys Shares of 8,222 Pepsico, Inc. (PEP)
Park Avenue Securities LLC bought a new position in Pepsico, Inc. (NYSE:PEP) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 8,222 shares of the company’s stock, valued at approximately $953,000.
A number of other hedge funds also recently added to or reduced their stakes in PEP. Riggs Asset Managment Co. Inc. increased its stake in shares of Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after purchasing an additional 165 shares during the last quarter. Millie Capital Management LLC acquired a new position in shares of Pepsico during the 1st quarter worth $202,000. Granite Investment Advisors LLC acquired a new position in shares of Pepsico during the 1st quarter worth $204,000. Spectrum Management Group Inc. acquired a new position in shares of Pepsico during the 1st quarter worth $205,000. Finally, Windsor Financial Group LLC acquired a new position in shares of Pepsico during the 1st quarter worth $205,000. Institutional investors own 70.17% of the company’s stock.
Several brokerages have recently commented on PEP. Zacks Investment Research lowered shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, September 4th. Susquehanna Bancshares Inc restated a “positive” rating and set a $133.00 price target (down previously from $134.00) on shares of Pepsico in a research note on Thursday, July 6th. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. BMO Capital Markets restated a “hold” rating and set a $120.00 price target on shares of Pepsico in a research note on Wednesday, September 6th. Finally, Cowen and Company restated a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $121.35.
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Pepsico, Inc. (PEP) opened at 112.62 on Friday. The company has a 50-day moving average of $113.18 and a 200-day moving average of $114.73. The firm has a market capitalization of $160.16 billion, a price-to-earnings ratio of 23.27 and a beta of 0.68. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $119.39.
Pepsico (NYSE:PEP) last posted its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.05. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The firm had revenue of $16.24 billion for the quarter, compared to analyst estimates of $16.35 billion. During the same period in the prior year, the firm posted $1.40 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts predict that Pepsico, Inc. will post $5.23 earnings per share for the current year.
In other Pepsico news, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the sale, the executive vice president now directly owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ramon Laguarta sold 21,449 shares of the company’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total transaction of $2,370,328.99. The disclosure for this sale can be found here. Insiders have sold 919,613 shares of company stock worth $106,956,258 over the last ninety days. 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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