Rothschild Asset Management Inc. Cuts Position in Pepsico, Inc. (PEP)
Rothschild Asset Management Inc. decreased its holdings in Pepsico, Inc. (NYSE:PEP) by 2.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 709,691 shares of the company’s stock after selling 17,058 shares during the period. Pepsico makes up about 0.9% of Rothschild Asset Management Inc.’s investment portfolio, making the stock its 11th largest position. Rothschild Asset Management Inc.’s holdings in Pepsico were worth $81,962,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Alta Capital Management LLC raised its holdings in Pepsico by 2.8% in the first quarter. Alta Capital Management LLC now owns 307,735 shares of the company’s stock valued at $34,423,000 after buying an additional 8,462 shares during the period. Professional Advisory Services Inc. grew its position in Pepsico by 0.3% in the first quarter. Professional Advisory Services Inc. now owns 174,584 shares of the company’s stock valued at $19,529,000 after acquiring an additional 587 shares in the last quarter. Courier Capital LLC grew its position in Pepsico by 1.1% in the first quarter. Courier Capital LLC now owns 30,909 shares of the company’s stock valued at $3,457,000 after acquiring an additional 334 shares in the last quarter. Granite Investment Advisors LLC acquired a new stake in Pepsico in the first quarter valued at approximately $204,000. Finally, Ledyard National Bank grew its position in Pepsico by 9.2% in the first quarter. Ledyard National Bank now owns 55,779 shares of the company’s stock valued at $6,240,000 after acquiring an additional 4,720 shares in the last quarter. Hedge funds and other institutional investors own 70.31% of the company’s stock.
In other news, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the transaction, the executive vice president now directly owns 174,273 shares in the company, valued at $20,283,634.47. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Ramon Laguarta sold 21,449 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 919,613 shares of company stock valued at $106,956,258. Corporate insiders own 0.26% of the company’s stock.
Several analysts have issued reports on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $116.00 price objective on shares of Pepsico in a research report on Friday, October 13th. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a research report on Tuesday, October 10th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $122.00 price objective (down previously from $125.00) on shares of Pepsico in a research report on Friday, October 6th. Credit Suisse Group reaffirmed a “hold” rating and issued a $122.00 price objective (down previously from $124.00) on shares of Pepsico in a research report on Thursday, October 5th. Finally, Susquehanna Bancshares Inc reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Pepsico in a research report on Monday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $121.35.
Shares of Pepsico, Inc. (PEP) opened at 111.61 on Friday. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. The stock’s 50 day moving average is $112.79 and its 200-day moving average is $114.72. The firm has a market cap of $158.73 billion, a P/E ratio of 23.06 and a beta of 0.68.
Pepsico (NYSE:PEP) last issued its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The company had revenue of $16.24 billion during the quarter, compared to analyst estimates of $16.35 billion. During the same period in the previous year, the company earned $1.40 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities analysts anticipate that Pepsico, Inc. will post $5.22 earnings per share for the current fiscal year.
Pepsico Company Profile
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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