Sky Investment Group LLC Decreases Position in Pepsico, Inc. (NYSE:PEP)

Sky Investment Group LLC lowered its position in shares of Pepsico, Inc. (NYSE:PEP) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,954 shares of the company’s stock after selling 824 shares during the period. Pepsico accounts for 3.2% of Sky Investment Group LLC’s investment portfolio, making the stock its 4th largest position. Sky Investment Group LLC’s holdings in Pepsico were worth $7,617,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in PEP. Asset Planning Services Ltd. boosted 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 last quarter. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Pepsico during the fourth quarter valued at about $125,000. Riggs Asset Managment Co. Inc. boosted its position in shares of 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 boosted its position in shares of 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 shares of Pepsico during the fourth quarter valued at about $150,000. Institutional investors own 70.52% of the company’s stock.

Shares of Pepsico, Inc. (NYSE:PEP) opened at 116.51 on Friday. The stock has a market cap of $166.09 billion, a P/E ratio of 24.67 and a beta of 0.67. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $118.24. The stock has a 50 day moving average price of $115.87 and a 200 day moving average price of $112.81.

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

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, August 30th. Pepsico’s payout ratio is 68.22%.

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Several brokerages have recently weighed in on PEP. Jefferies Group LLC raised their target price on Pepsico from $120.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Credit Suisse Group reissued a “buy” rating on shares of Pepsico in a research report on Thursday, April 27th. BMO Capital Markets reissued a “buy” rating and set a $115.00 target price on shares of Pepsico in a research report on Thursday, April 27th. Vetr raised Pepsico from a “hold” rating to a “buy” rating and set a $125.54 price target on the stock in a research report on Wednesday, April 26th. Finally, Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a research report on Friday, July 14th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Pepsico presently has a consensus rating of “Buy” and a consensus target price of $123.40.

In other news, SVP Marie T. Gallagher sold 41,489 shares of Pepsico stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $116.77, for a total value of $4,844,670.53. Following the completion of the transaction, the senior vice president now owns 76,037 shares in the company, valued at $8,878,840.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Indra K. Nooyi sold 452,830 shares of Pepsico stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the completion of the transaction, the chairman now owns 733,315 shares of the company’s stock, valued at approximately $85,387,198.60. The disclosure for this sale can be found here. Insiders have sold 898,164 shares of company stock worth $104,585,929 over 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).

Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

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