Asset Dedication LLC lowered its position in shares of Pepsico, Inc. (NYSE:PEP) by 2.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,301 shares of the company’s stock after selling 224 shares during the period. Asset Dedication LLC’s holdings in Pepsico were worth $954,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Glovista Investments LLC increased its stake in Pepsico by 1.9% in the fourth quarter. Glovista Investments LLC now owns 5,355 shares of the company’s stock worth $560,000 after buying an additional 100 shares in the last quarter. Massmutual Trust Co. FSB ADV purchased a new position in shares of Pepsico during the fourth quarter worth about $9,402,000. Iberiabank Corp boosted its position in shares of Pepsico by 3.7% in the fourth quarter. Iberiabank Corp now owns 4,293 shares of the company’s stock worth $449,000 after buying an additional 153 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its position in shares of Pepsico by 1.1% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 12,792 shares of the company’s stock worth $1,338,000 after buying an additional 139 shares during the last quarter. Finally, Gyroscope Capital Management Group LLC purchased a new position in shares of Pepsico during the fourth quarter worth about $374,000. 70.19% of the stock is currently owned by institutional investors and hedge funds.
Pepsico, Inc. (NYSE:PEP) traded down 0.67% on Friday, hitting $117.60. 3,776,515 shares of the company were exchanged. The stock’s 50-day moving average price is $116.09 and its 200-day moving average price is $113.22. The stock has a market capitalization of $167.64 billion, a P/E ratio of 24.90 and a beta of 0.67. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. Pepsico also saw some unusual options trading on Wednesday. Stock investors purchased 1,176 call options on the stock. This represents an increase of 536% compared to the typical volume of 185 call options.
Pepsico (NYSE:PEP) last issued its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.10. The company had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $1.35 EPS. On average, equities research analysts anticipate that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, August 30th. Pepsico’s payout ratio is currently 68.22%.
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A number of brokerages recently issued reports on PEP. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday. Stifel Nicolaus restated a “hold” rating on shares of Pepsico in a research note on Wednesday, May 31st. BMO Capital Markets cut shares of Pepsico from an “outperform” rating to a “market perform” rating and upped their target price for the company from $118.00 to $120.00 in a research note on Wednesday, June 7th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Royal Bank Of Canada restated a “hold” rating and set a $115.00 target price on shares of Pepsico in a research note on Thursday, May 25th. Five research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Pepsico currently has an average rating of “Buy” and an average target price of $123.40.
In other news, CEO Indra K. Nooyi sold 340,449 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.42, for a total value of $39,635,072.58. Following the transaction, the chief executive officer now owns 733,315 shares of the company’s stock, valued at approximately $85,372,532.30. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Indra K. Nooyi sold 452,830 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total value of $52,727,525.20. Following the completion of the transaction, the chairman now directly owns 733,315 shares in the company, valued at approximately $85,387,198.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 898,164 shares of company stock valued at $104,585,929. 0.26% of the stock is owned by company insiders.
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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