Jarislowsky Fraser Ltd decreased its stake in Pepsico, Inc. (NYSE:PEP) by 2.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,664,263 shares of the company’s stock after selling 33,459 shares during the period. Pepsico makes up about 1.2% of Jarislowsky Fraser Ltd’s holdings, making the stock its 19th largest position. Jarislowsky Fraser Ltd owned approximately 0.12% of Pepsico worth $192,205,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Menta Capital LLC increased its position in shares of Pepsico by 880.1% in the fourth quarter. Menta Capital LLC now owns 40,588 shares of the company’s stock valued at $4,247,000 after buying an additional 36,447 shares during the last quarter. Parallel Advisors LLC acquired a new position in shares of Pepsico during the fourth quarter valued at $1,329,000. InterOcean Capital LLC increased its position in shares of Pepsico by 99.2% in the fourth quarter. InterOcean Capital LLC now owns 42,409 shares of the company’s stock valued at $4,437,000 after buying an additional 21,117 shares during the last quarter. Folger Hill Asset Management LP acquired a new position in shares of Pepsico during the fourth quarter valued at $493,000. Finally, Baillie Gifford & Co. increased its position in shares of Pepsico by 3.4% in the fourth quarter. Baillie Gifford & Co. now owns 198,459 shares of the company’s stock valued at $20,765,000 after buying an additional 6,561 shares during the last quarter. 70.19% of the stock is owned by institutional investors and hedge funds.
Pepsico, Inc. (PEP) traded down 0.67% during trading on Friday, reaching $117.60. The company had a trading volume of 3,776,515 shares. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $119.39. The company has a market capitalization of $167.64 billion, a P/E ratio of 24.90 and a beta of 0.67. The firm’s 50 day moving average is $116.16 and its 200-day moving average is $113.32. Pepsico also was the recipient of some unusual options trading on Wednesday. Traders purchased 1,176 call options on the company. This is an increase of approximately 536% compared to the average daily volume of 185 call options.
Pepsico (NYSE:PEP) last posted its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The firm had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. During the same quarter in the previous year, the business earned $1.35 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts expect that Pepsico, Inc. will post $5.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a $0.805 dividend. This represents a $3.22 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Wednesday, August 30th. Pepsico’s payout ratio is 68.22%.
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PEP has been the subject of several research reports. Jefferies Group LLC reiterated a “buy” rating and set a $127.00 price target on shares of Pepsico in a research report on Friday, May 19th. Credit Suisse Group reiterated a “buy” rating on shares of Pepsico in a research report on Thursday, April 27th. BMO Capital Markets reiterated a “buy” rating and set a $115.00 price target on shares of Pepsico in a research report on Thursday, April 27th. Vetr upgraded Pepsico from a “hold” rating to a “buy” rating and set a $125.54 target price for the company in a report on Wednesday, April 26th. Finally, Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a report on Friday, July 14th. Five equities 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 company. The stock currently has an average rating of “Buy” and an average target price of $123.40.
In other news, Chairman Indra K. Nooyi sold 452,830 shares of the company’s stock in a transaction dated 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 completion of the sale, the chairman now owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.77, for a total value of $4,844,670.53. Following the completion of 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 sold 898,164 shares of company stock valued at $104,585,929 in the last ninety days. Company 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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