New Capital Management LP Holds Position in Pepsico, Inc. (NYSE:PEP)

New Capital Management LP held its stake in Pepsico, Inc. (NYSE:PEP) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 24,816 shares of the company’s stock at the end of the second quarter. Pepsico comprises about 5.1% of New Capital Management LP’s holdings, making the stock its 4th largest position. New Capital Management LP’s holdings in Pepsico were worth $2,776,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Asset Planning Services Ltd. increased its stake in Pepsico by 66.1% in the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after buying an additional 399 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in Pepsico during the fourth quarter worth $125,000. Riggs Asset Managment Co. Inc. increased its stake 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 buying an additional 165 shares in the last quarter. Israel Discount Bank of New York GFN acquired a new stake in Pepsico during the fourth quarter worth $150,000. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new stake in Pepsico during the first quarter worth $157,000. 70.19% of the stock is currently owned by hedge funds and other institutional investors.

Pepsico, Inc. (PEP) opened at 117.60 on Friday. The company has a market cap of $167.64 billion, a PE 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. The stock has a 50 day moving average of $116.16 and a 200 day moving average of $113.32. Pepsico also was the recipient of some unusual options trading on Wednesday. Stock investors bought 1,176 call options on the company. This represents an increase of approximately 536% compared to the typical daily volume of 185 call options.

Pepsico (NYSE:PEP) last issued its earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. Pepsico’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.35 earnings per share. Equities research analysts predict that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a $0.805 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a yield of 2.74%. Pepsico’s dividend payout ratio is currently 68.22%.

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A number of analysts have recently weighed in on the stock. Vetr raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $125.54 target price on the stock in a research report on Wednesday, April 26th. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a research report on Friday, July 14th. Susquehanna Bancshares Inc reissued a “positive” rating and set a $133.00 price objective (down from $134.00) on shares of Pepsico in a research report on Thursday, July 6th. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets downgraded shares of Pepsico from an “outperform” rating to a “market perform” rating and increased their price objective for the company from $118.00 to $120.00 in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $123.40.

In other news, SVP Marie T. Gallagher sold 41,489 shares of the company’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 completion of the transaction, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Indra K. Nooyi sold 452,830 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total value of $52,727,525.20. Following the transaction, the chairman now directly owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 898,164 shares of company stock worth $104,585,929. 0.26% of the stock is owned by 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).

Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

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