Pepsico, Inc. (PEP) Holdings Reduced by Allegis Investment Advisors LLC
Allegis Investment Advisors LLC trimmed its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,268 shares of the company’s stock after selling 126 shares during the period. Allegis Investment Advisors LLC’s holdings in Pepsico were worth $1,763,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of PEP. Investment Counsel Inc. boosted its stake in Pepsico by 1.9% during the 1st quarter. Investment Counsel Inc. now owns 26,553 shares of the company’s stock valued at $2,970,000 after purchasing an additional 500 shares during the last quarter. Everett Harris & Co. CA boosted its stake in Pepsico by 0.6% during the 1st quarter. Everett Harris & Co. CA now owns 389,447 shares of the company’s stock valued at $43,564,000 after purchasing an additional 2,215 shares during the last quarter. Capital Management Corp VA boosted its stake in Pepsico by 9.4% during the 1st quarter. Capital Management Corp VA now owns 2,319 shares of the company’s stock valued at $259,000 after purchasing an additional 200 shares during the last quarter. New Jersey Better Educational Savings Trust purchased a new stake in Pepsico during the 1st quarter valued at $783,000. Finally, First Western Capital Management Co boosted its stake in Pepsico by 7.9% during the 1st quarter. First Western Capital Management Co now owns 39,724 shares of the company’s stock valued at $4,443,000 after purchasing an additional 2,901 shares during the last quarter. Institutional investors and hedge funds own 70.21% of the company’s stock.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is owned by company insiders.
Pepsico, Inc. (NYSE:PEP) opened at $114.68 on Monday. Pepsico, Inc. has a twelve month low of $98.50 and a twelve month high of $119.39. The company has a market capitalization of $163,091.36, a price-to-earnings ratio of 22.40, a P/E/G ratio of 3.12 and a beta of 0.66. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 2.32.
Pepsico (NYSE:PEP) last announced its earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.05. The company had revenue of $16.24 billion for the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. Pepsico’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $1.40 EPS. analysts anticipate that Pepsico, Inc. will post 5.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a yield of 2.81%. Pepsico’s dividend payout ratio is presently 66.53%.
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PEP has been the topic of several research analyst reports. Cowen and Company reissued a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Credit Suisse Group cut Pepsico from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $126.00 to $124.00 in a report on Friday, September 8th. Zacks Investment Research cut Pepsico from a “buy” rating to a “hold” rating in a report on Monday, August 28th. Macquarie initiated coverage on Pepsico in a report on Thursday, September 14th. They set an “outperform” rating and a $125.00 price target on the stock. Finally, BMO Capital Markets reissued a “hold” rating and set a $120.00 price target on shares of Pepsico in a report 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 assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $121.35.
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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