Mn Services Vermogensbeheer B.V. raised its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 508.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 233,144 shares of the company’s stock after purchasing an additional 194,813 shares during the period. Pepsico makes up about 0.7% of Mn Services Vermogensbeheer B.V.’s investment portfolio, making the stock its 27th largest holding. Mn Services Vermogensbeheer B.V.’s holdings in Pepsico were worth $26,926,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Asset Planning Services Ltd. boosted its stake in Pepsico by 66.1% during the 1st quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock valued at $112,000 after purchasing an additional 399 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after purchasing an additional 165 shares during the last quarter. Millie Capital Management LLC purchased a new stake in Pepsico during the 1st quarter valued at $202,000. Granite Investment Advisors LLC purchased a new stake in Pepsico during the 1st quarter valued at $204,000. Finally, Spectrum Management Group Inc. purchased a new stake in Pepsico during the 1st quarter valued at $205,000. Institutional investors and hedge funds own 70.17% of the company’s stock.
Several brokerages have commented on PEP. Deutsche Bank AG reiterated a “buy” rating and set a $122.00 target price (down from $125.00) on shares of Pepsico in a research note on Friday. Credit Suisse Group reiterated a “hold” rating and set a $122.00 target price (down from $124.00) on shares of Pepsico in a research note on Thursday, October 5th. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a research note on Tuesday, October 3rd. Finally, Susquehanna Bancshares Inc reiterated a “buy” rating and set a $135.00 target price on shares of Pepsico in a research note on Monday, October 2nd. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $121.71.
In other Pepsico news, CEO Indra K. Nooyi sold 340,449 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $116.42, for a total value of $39,635,072.58. Following the sale, the chief executive officer now directly owns 733,315 shares of the company’s stock, valued at $85,372,532.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of the company’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 in the company, valued at $20,283,634.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 898,164 shares of company stock worth $104,585,929. 0.26% of the stock is owned by corporate insiders.
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Pepsico, Inc. (PEP) traded up 0.668% during trading on Tuesday, hitting $110.745. The stock had a trading volume of 1,415,707 shares. The firm has a market cap of $157.50 billion, a PE ratio of 22.886 and a beta of 0.68. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. The company’s 50 day moving average is $113.89 and its 200 day moving average is $114.75.
Pepsico (NYSE:PEP) last announced its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The firm had revenue of $16.24 billion for the quarter, compared to analyst estimates of $16.35 billion. During the same period in the previous year, the company earned $1.40 earnings per share. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Equities research analysts forecast that Pepsico, Inc. will post $5.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were issued a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Wednesday, August 30th. Pepsico’s 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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