Everett Harris & Co. CA Has $45.28 Million Position in Pepsico, Inc. (PEP)
Everett Harris & Co. CA increased its position in shares of Pepsico, Inc. (NYSE:PEP) by 0.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 392,077 shares of the company’s stock after purchasing an additional 2,630 shares during the quarter. Pepsico makes up about 1.4% of Everett Harris & Co. CA’s holdings, making the stock its 20th biggest position. Everett Harris & Co. CA’s holdings in Pepsico were worth $45,281,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Barnett & Company Inc. raised its position in Pepsico by 270.4% in the second quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after acquiring an additional 657 shares during the period. Asset Planning Services Ltd. raised its position in Pepsico by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock worth $116,000 after acquiring an additional 3 shares during the period. Riggs Asset Managment Co. Inc. raised its position in Pepsico by 14.9% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after acquiring an additional 165 shares during the period. Millie Capital Management LLC bought a new stake in Pepsico in the first quarter worth about $202,000. Finally, S. R. Schill & Associates bought a new stake in Pepsico in the second quarter worth about $203,000. Institutional investors and hedge funds own 70.21% of the company’s stock.
Shares of Pepsico, Inc. (PEP) opened at $114.91 on Tuesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market cap of $163,250.00, a P/E ratio of 22.40, a P/E/G ratio of 3.12 and a beta of 0.66. Pepsico, Inc. has a twelve month low of $98.50 and a twelve month high of $119.39.
Pepsico (NYSE:PEP) last posted its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.05. The business had revenue of $16.24 billion for the quarter, compared to analyst estimates of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. Pepsico’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.40 EPS. analysts forecast that Pepsico, Inc. will post 5.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Investors 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 2.80%. The ex-dividend date of this dividend is Thursday, November 30th. Pepsico’s dividend payout ratio (DPR) is presently 66.53%.
In related news, insider Ramon Laguarta sold 21,449 shares of the company’s stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.
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PEP has been the topic of several research reports. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research report on Tuesday, August 22nd. Credit Suisse Group lowered shares of Pepsico from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $126.00 to $124.00 in a research report on Friday, September 8th. Jefferies Group LLC lowered shares of Pepsico from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $133.00 to $108.00 in a research report on Monday, October 2nd. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Pepsico in a research report on Wednesday, September 6th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price 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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