OLD Republic International Corp Continues to Hold Position in Pepsico, Inc. (PEP)
OLD Republic International Corp continued to hold its stake in Pepsico, Inc. (NYSE:PEP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 301,200 shares of the company’s stock at the end of the 2nd quarter. OLD Republic International Corp’s holdings in Pepsico were worth $34,786,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Grove Bank & Trust lifted its holdings in Pepsico by 41.6% in the second quarter. Grove Bank & Trust now owns 11,371 shares of the company’s stock valued at $1,313,000 after acquiring an additional 3,339 shares during the period. Wedbush Securities Inc. lifted its holdings in Pepsico by 20.4% in the second quarter. Wedbush Securities Inc. now owns 17,247 shares of the company’s stock valued at $1,992,000 after acquiring an additional 2,922 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in Pepsico by 3.8% in the second quarter. Stratos Wealth Partners LTD. now owns 78,716 shares of the company’s stock valued at $9,091,000 after acquiring an additional 2,905 shares during the period. Koshinski Asset Management Inc. lifted its holdings in Pepsico by 4.0% in the second quarter. Koshinski Asset Management Inc. now owns 6,907 shares of the company’s stock valued at $798,000 after acquiring an additional 265 shares during the period. Finally, State of Wisconsin Investment Board lifted its holdings in Pepsico by 13.3% in the first quarter. State of Wisconsin Investment Board now owns 1,440,520 shares of the company’s stock valued at $161,137,000 after acquiring an additional 169,049 shares during the period. Hedge funds and other institutional investors own 70.54% of the company’s stock.
In related news, insider Ramon Laguarta sold 21,449 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.
Pepsico, Inc. (NYSE PEP) opened at $115.76 on Wednesday. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $119.39. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 2.32. The company has a market capitalization of $162,181.19, a price-to-earnings ratio of 22.27, a P/E/G ratio of 3.10 and a beta of 0.66.
Pepsico (NYSE:PEP) last posted its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.05. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The firm had revenue of $16.24 billion during the quarter, compared to the consensus estimate of $16.35 billion. During the same period in the prior year, the company earned $1.40 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. equities analysts predict that Pepsico, Inc. will post 5.22 earnings per share for the current year.
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A number of research analysts have issued reports on PEP shares. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Tuesday, August 22nd. Credit Suisse Group downgraded Pepsico from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $126.00 to $124.00 in a report on Friday, September 8th. Jefferies Group LLC downgraded Pepsico from a “buy” rating to a “hold” rating and reduced their target price for the stock from $133.00 to $108.00 in a research note on Monday, October 2nd. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $115.00 target price on shares of Pepsico in a research note on Wednesday, September 6th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average 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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