Harvest Fund Management Co. Ltd continued to hold its stake in Pepsico, Inc. (NYSE:PEP) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 905 shares of the company’s stock at the end of the first quarter. Harvest Fund Management Co. Ltd’s holdings in Pepsico were worth $101,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the company. STA Wealth Management LLC increased its position in Pepsico by 1.2% in the fourth quarter. STA Wealth Management LLC now owns 4,694 shares of the company’s stock worth $491,000 after buying an additional 57 shares during the last quarter. SRS Capital Advisors Inc. acquired a new position in Pepsico during the fourth quarter worth approximately $282,000. Quest Investment Management Inc. OR increased its position in Pepsico by 5.8% in the fourth quarter. Quest Investment Management Inc. OR now owns 141,538 shares of the company’s stock worth $14,809,000 after buying an additional 7,739 shares during the last quarter. Glassman Wealth Services increased its position in Pepsico by 52.6% in the fourth quarter. Glassman Wealth Services now owns 7,205 shares of the company’s stock worth $754,000 after buying an additional 2,485 shares during the last quarter. Finally, Moloney Securities Asset Management LLC acquired a new position in Pepsico during the fourth quarter worth approximately $626,000. Institutional investors own 70.19% of the company’s stock.
Pepsico, Inc. (NYSE PEP) opened at 117.60 on Friday. The firm has a market cap of $167.64 billion, a PE ratio of 24.90 and a beta of 0.67. The company’s 50-day moving average is $116.16 and its 200-day moving average is $113.32. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39. Pepsico also was the target of some unusual options trading activity on Wednesday. Stock traders acquired 1,176 call options on the company. This is an increase of approximately 536% compared to the typical volume of 185 call options.
Pepsico (NYSE:PEP) last released its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.35 EPS. On average, analysts forecast that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Wednesday, August 30th. Pepsico’s dividend payout ratio is presently 68.22%.
A number of research firms have recently commented on PEP. BMO Capital Markets downgraded shares of Pepsico from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $118.00 to $120.00 in a report on Wednesday, June 7th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $115.00 price objective on shares of Pepsico in a report on Thursday, May 25th. Jefferies Group LLC reaffirmed a “buy” rating and set a $127.00 price objective on shares of Pepsico in a report on Friday, May 19th. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $133.00 price objective (down from $134.00) on shares of Pepsico in a report on Thursday, July 6th. Five equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $123.40.
In other news, EVP Mehmood Khan sold 63,396 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the sale, the executive vice president now owns 174,273 shares of the company’s stock, valued at approximately $20,283,634.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Marie T. Gallagher sold 41,489 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the sale, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. Insiders have sold a total of 898,164 shares of company stock valued at $104,585,929 in the last three months. Insiders own 0.26% of the company’s stock.
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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