Fort Washington Investment Advisors Inc. OH cut its stake in shares of Pepsico, Inc. (NYSE:PEP) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 163,343 shares of the company’s stock after selling 340 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Pepsico were worth $18,272,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Asset Planning Services Ltd. increased its position in Pepsico by 66.1% in the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock valued at $112,000 after buying an additional 399 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in Pepsico during the fourth quarter valued at approximately $125,000. Riggs Asset Managment Co. Inc. increased 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 valued at $142,000 after buying an additional 165 shares during the last quarter. Israel Discount Bank of New York GFN purchased a new position in Pepsico during the fourth quarter valued at approximately $150,000. Finally, Leith Wheeler Investment Counsel Ltd. purchased a new position in Pepsico during the first quarter valued at approximately $157,000. Institutional investors and hedge funds own 70.19% of the company’s stock.
Pepsico, Inc. (NYSE PEP) opened at 117.60 on Friday. The company has a 50-day moving average price of $116.16 and a 200-day moving average price of $113.32. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $119.39. The company has a market cap of $167.64 billion, a PE ratio of 24.90 and a beta of 0.67. Pepsico also was the target of unusually large options trading activity on Wednesday. Investors bought 1,176 call options on the stock. This represents an increase of approximately 536% compared to the typical daily volume of 185 call options.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.40 by $0.10. The business had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.35 EPS. On average, analysts expect that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.74%. The ex-dividend date is Wednesday, August 30th. Pepsico’s payout ratio is currently 68.22%.
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Several research firms recently commented on PEP. Vetr upgraded Pepsico from a “hold” rating to a “buy” rating and set a $125.54 price objective on the stock in a research note on Wednesday, April 26th. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price objective on the stock in a research note on Friday, July 14th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $133.00 price objective (down previously from $134.00) on shares of Pepsico in a research note on Thursday, July 6th. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, BMO Capital Markets downgraded Pepsico from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $118.00 to $120.00 in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Five investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $123.40.
In other Pepsico news, Chairman Indra K. Nooyi sold 452,830 shares of the business’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 sale, the chairman now owns 733,315 shares in the company, valued at approximately $85,387,198.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of the business’s stock in a transaction on Monday, July 24th. The stock was 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 in the company, valued at approximately $20,283,634.47. 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. Corporate insiders own 0.26% of the company’s stock.
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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