Boston Financial Mangement LLC Sells 3,083 Shares of Pepsico, Inc. (PEP)
Boston Financial Mangement LLC cut its position in shares of Pepsico, Inc. (NYSE:PEP) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 141,820 shares of the company’s stock after selling 3,083 shares during the quarter. Pepsico makes up 1.2% of Boston Financial Mangement LLC’s investment portfolio, making the stock its 16th largest position. Boston Financial Mangement LLC’s holdings in Pepsico were worth $16,379,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Schwab Charles Investment Management Inc. grew its holdings in shares of Pepsico by 3.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 7,543,614 shares of the company’s stock worth $843,829,000 after buying an additional 280,480 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Pepsico by 5.0% in the second quarter. Fisher Asset Management LLC now owns 5,775,278 shares of the company’s stock worth $666,987,000 after acquiring an additional 277,607 shares during the last quarter. APG Asset Management N.V. boosted its position in shares of Pepsico by 0.9% in the second quarter. APG Asset Management N.V. now owns 5,110,832 shares of the company’s stock worth $590,250,000 after acquiring an additional 43,100 shares during the last quarter. Pioneer Investment Management Inc. boosted its position in shares of Pepsico by 19.9% in the first quarter. Pioneer Investment Management Inc. now owns 4,414,828 shares of the company’s stock worth $493,842,000 after acquiring an additional 733,294 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Pepsico by 7.9% in the second quarter. Russell Investments Group Ltd. now owns 4,187,858 shares of the company’s stock worth $483,791,000 after acquiring an additional 306,065 shares during the last quarter. Institutional investors and hedge funds own 70.17% of the company’s stock.
In related news, 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 value of $2,370,328.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction on 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 completion of the transaction, the senior vice president now owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The disclosure for this sale can be found here. Insiders sold 919,613 shares of company stock valued at $106,956,258 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.
Shares of Pepsico, Inc. (PEP) opened at 112.62 on Monday. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $119.39. The company has a market cap of $160.16 billion, a price-to-earnings ratio of 23.27 and a beta of 0.68. The company has a 50 day moving average of $113.18 and a 200-day moving average of $114.74.
Pepsico (NYSE:PEP) last issued its earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. The business 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%. Pepsico’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. On average, equities research analysts expect that Pepsico, Inc. will post $5.23 earnings per share for the current fiscal year.
PEP has been the topic of several research analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $133.00 target price (up from $130.00) on shares of Pepsico in a research report on Wednesday, July 12th. BidaskClub cut shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Tuesday, August 22nd. Susquehanna Bancshares Inc reissued a “buy” rating and issued a $135.00 target price on shares of Pepsico in a research report on Monday, October 2nd. Finally, Credit Suisse Group reissued a “hold” rating and issued a $122.00 target price (down from $124.00) on shares of Pepsico in a research report on Thursday, October 5th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $121.35.
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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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