Watch Point Trust Co cut its stake in Pepsico, Inc. (NYSE:PEP) by 5.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,540 shares of the company’s stock after selling 1,085 shares during the period. Pepsico accounts for 2.1% of Watch Point Trust Co’s portfolio, making the stock its 19th largest position. Watch Point Trust Co’s holdings in Pepsico were worth $2,257,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in PEP. Asset Planning Services Ltd. increased its position in shares of 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 period. Patriot Financial Group Insurance Agency LLC bought a new position in Pepsico during the fourth quarter valued at about $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. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC increased its position in Pepsico by 11,898.4% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146,861 shares of the company’s stock valued at $147,000 after buying an additional 145,637 shares during the last quarter. Finally, Israel Discount Bank of New York GFN bought a new position in Pepsico during the fourth quarter valued at about $150,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.
Shares of Pepsico, Inc. (PEP) traded down 0.67% on Friday, reaching $117.60. 3,776,515 shares of the company traded hands. The firm has a 50-day moving average price of $116.16 and a 200 day moving average price of $113.32. The company has a market capitalization of $167.64 billion, a PE ratio of 24.90 and a beta of 0.67. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39. Pepsico also saw unusually large options trading on Wednesday. Stock traders bought 1,176 call options on the stock. This represents an increase of 536% compared to the average daily volume of 185 call options.
Pepsico (NYSE:PEP) last released its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping the consensus estimate of $1.40 by $0.10. The company had revenue of $15.71 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $1.35 EPS. Equities analysts forecast 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. Shareholders of record on Friday, September 1st will be given a $0.805 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 annualized dividend and a yield of 2.74%. Pepsico’s payout ratio is 68.22%.
Several brokerages have recently weighed in on PEP. BMO Capital Markets lowered shares of Pepsico from an “outperform” rating to a “market perform” rating and lifted their target price 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. Zacks Investment Research lowered shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Royal Bank Of Canada restated a “hold” rating and issued a $115.00 price target on shares of Pepsico in a research report on Thursday, May 25th. Jefferies Group LLC restated a “buy” rating and issued a $127.00 price target on shares of Pepsico in a research report on Friday, May 19th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and issued a $133.00 price target (down from $134.00) on shares of Pepsico in a research report on Thursday, July 6th. 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 company. The company has an average rating of “Buy” and a consensus target price of $123.40.
In other Pepsico news, CEO Indra K. Nooyi sold 340,449 shares of the firm’s stock in a transaction dated 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 directly owns 733,315 shares of the company’s stock, valued at $85,372,532.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the transaction, the executive vice president now directly owns 174,273 shares in the company, valued at $20,283,634.47. The disclosure for this sale can be found here. Insiders sold 898,164 shares of company stock worth $104,585,929 over 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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