Pepsico, Inc. (NYSE:PEP) Stake Lowered by Sky Investment Group LLC

Sky Investment Group LLC cut its stake in Pepsico, Inc. (NYSE:PEP) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 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.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 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 company has a market capitalization of $167.64 billion, a PE ratio of 24.90 and a beta of 0.67. The firm has a 50-day moving average price of $116.16 and a 200 day moving average price of $113.32. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39. Pepsico also was the target of unusually large options trading on Wednesday. Investors purchased 1,176 call options on the stock. This is an increase of 536% compared to the typical daily volume of 185 call options.

Pepsico (NYSE:PEP) last announced its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $15.57 billion. During the same period last year, the firm posted $1.35 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts forecast 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. Stockholders of record on Friday, September 1st will be given a dividend of $0.805 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.74%. Pepsico’s payout ratio is currently 68.22%.

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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 reiterated a “positive” rating and set a $133.00 target price (down from $134.00) on shares of Pepsico in a research report on Thursday, July 6th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $123.40.

In related news, Chairman Indra K. Nooyi sold 452,830 shares of the business’s stock in a transaction that occurred on 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 transaction, the chairman now directly owns 733,315 shares of the company’s stock, valued at approximately $85,387,198.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 76,037 shares in the company, valued at $8,878,840.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 898,164 shares of company stock worth $104,585,929. 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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