A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Leith Wheeler Investment Counsel Ltd. purchased a new position in Pepsico during the first quarter valued at $157,000. Cigna Investments Inc. New purchased a new position in Pepsico during the fourth quarter valued at $7,843,000. Norges Bank purchased a new position in Pepsico during the fourth quarter valued at $1,492,411,000. AE Wealth Management LLC purchased a new position in Pepsico during the fourth quarter valued at $544,000. Finally, National Pension Service boosted its position in Pepsico by 2.0% in the first quarter. National Pension Service now owns 945,000 shares of the company’s stock valued at $106,010,000 after buying an additional 18,835 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.
Haverford Trust Co. boosted its stake in Pepsico, Inc. (NYSE:PEP) by 0.3% during the first quarter, Holdings Channel reports. The fund owned 1,028,299 shares of the company’s stock after buying an additional 3,012 shares during the period. Pepsico accounts for 2.6% of Haverford Trust Co.’s investment portfolio, making the stock its 9th largest position. Haverford Trust Co.’s holdings in Pepsico were worth $115,026,000 at the end of the most recent quarter.
Shares of Pepsico, Inc. (NYSE PEP) opened at 115.92 on Wednesday. The company has a 50-day moving average price of $116.01 and a 200 day moving average price of $112.24. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $118.24. The firm has a market capitalization of $165.25 billion, a price-to-earnings ratio of 24.55 and a beta of 0.67.
Pepsico (NYSE:PEP) last announced its quarterly 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. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. During the same period in the previous year, the company earned $1.35 earnings per share. Pepsico’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts predict that Pepsico, Inc. will post $5.16 EPS for the current year.
The business also recently declared 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 2.78%. Pepsico’s dividend payout ratio (DPR) is presently 68.22%.
PEP has been the topic of several recent research reports. Zacks Investment Research cut Pepsico from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Jefferies Group LLC reiterated a “buy” rating and set a $130.00 price objective (up previously from $127.00) on shares of Pepsico in a research report on Thursday, July 6th. Vetr upgraded Pepsico from a “hold” rating to a “buy” rating and set a $125.54 price objective on the stock in a research report on Wednesday, April 26th. Credit Suisse Group reiterated a “buy” rating on shares of Pepsico in a research report on Thursday, April 27th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $115.00 price objective on shares of Pepsico in a research report on Thursday, April 27th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $123.04.
In related 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 completion of the sale, the chairman now directly owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mehmood Khan sold 63,396 shares of the business’s stock in a transaction 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 directly owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 856,675 shares of company stock valued at $99,741,258. 0.26% of the stock is owned by corporate insiders.
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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