Orca Investment Management LLC lessened its position in Pepsico, Inc. (NYSE:PEP) by 3.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,147 shares of the company’s stock after selling 353 shares during the period. Orca Investment Management LLC’s holdings in Pepsico were worth $1,172,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of PEP. Asset Planning Services Ltd. raised 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. Riggs Asset Managment Co. Inc. raised 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. Millie Capital Management LLC acquired a new position in shares of Pepsico in the first quarter valued at approximately $202,000. Granite Investment Advisors LLC acquired a new position in shares of Pepsico in the first quarter valued at approximately $204,000. Finally, Spectrum Management Group Inc. acquired a new position in shares of Pepsico in the first quarter valued at approximately $205,000. 70.17% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently weighed in on PEP. Zacks Investment Research lowered shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $133.00 price objective (down previously from $134.00) on shares of Pepsico in a research report on Thursday, July 6th. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. BMO Capital Markets reissued a “hold” rating and issued a $120.00 price objective on shares of Pepsico in a research report on Wednesday, September 6th. Finally, Cowen and Company reissued a “buy” rating on shares of Pepsico in a research report on Sunday, September 17th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $121.71.
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 transaction, the senior vice president now owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Indra K. Nooyi sold 340,449 shares of Pepsico stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the completion of the transaction, the chief executive officer now directly owns 733,315 shares in the company, valued at approximately $85,372,532.30. The disclosure for this sale can be found here. In the last three months, insiders sold 898,164 shares of company stock worth $104,585,929. Insiders own 0.26% of the company’s stock.
Shares of Pepsico, Inc. (PEP) traded up 0.668% during trading on Tuesday, reaching $110.745. 1,415,723 shares of the company traded hands. The firm has a 50-day moving average price of $113.89 and a 200-day moving average price of $114.75. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $119.39. The firm has a market capitalization of $157.50 billion, a PE ratio of 22.886 and a beta of 0.68.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.05. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The company had revenue of $16.24 billion for the quarter, compared to analyst estimates of $16.35 billion. During the same quarter last year, the firm posted $1.40 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities research analysts anticipate that Pepsico, Inc. will post $5.22 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were given a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date was Wednesday, August 30th. Pepsico’s dividend payout ratio is 66.53%.
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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