CCM Investment Advisers LLC Raises Holdings in Pepsico, Inc. (PEP)
CCM Investment Advisers LLC boosted its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 41.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 74,421 shares of the company’s stock after purchasing an additional 21,993 shares during the period. CCM Investment Advisers LLC’s holdings in Pepsico were worth $8,594,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Barnett & Company Inc. boosted its holdings in shares of Pepsico by 270.4% in the second quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock valued at $104,000 after acquiring an additional 657 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Pepsico by 14.9% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after acquiring an additional 165 shares in the last quarter. Millie Capital Management LLC purchased a new stake in shares of Pepsico in the first quarter valued at about $202,000. Spectrum Management Group Inc. purchased a new stake in shares of Pepsico in the first quarter valued at about $205,000. Finally, Windsor Financial Group LLC purchased a new stake in shares of Pepsico in the first quarter valued at about $205,000. 70.54% of the stock is currently owned by institutional investors.
Pepsico, Inc. (NYSE:PEP) opened at $112.75 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 2.32. The stock has a market cap of $160,346.61, a PE ratio of 22.02, a price-to-earnings-growth ratio of 3.06 and a beta of 0.66. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39.
Pepsico (NYSE:PEP) last announced its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. The company had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.40 earnings per share. equities analysts expect that Pepsico, Inc. will post 5.22 EPS for the current year.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total transaction of $2,370,328.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% of the company’s stock.
Several analysts have recently weighed in on PEP shares. Cowen and Company reaffirmed a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Credit Suisse Group cut shares of Pepsico from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $126.00 to $124.00 in a research note on Friday, September 8th. Zacks Investment Research cut shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Macquarie started coverage on shares of Pepsico in a research note on Thursday, September 14th. They issued an “outperform” rating and a $125.00 price objective for the company. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $120.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $121.35.
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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