Northeast Financial Consultants Inc continued to hold its stake in Pepsico, Inc. (NYSE:PEP) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,233 shares of the company’s stock at the end of the second quarter. Northeast Financial Consultants Inc’s holdings in Pepsico were worth $1,297,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Sanders Capital LLC acquired a new stake in shares of Pepsico during the first quarter valued at about $254,277,000. Canada Pension Plan Investment Board increased its position in shares of Pepsico by 92.5% during the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock valued at $371,065,000 after acquiring an additional 1,593,550 shares during the last quarter. Karp Capital Management Corp acquired a new stake in shares of Pepsico during the first quarter valued at about $112,080,000. Pioneer Investment Management Inc. increased its position in shares of Pepsico by 19.9% during the first quarter. Pioneer Investment Management Inc. now owns 4,414,828 shares of the company’s stock valued at $493,842,000 after acquiring an additional 733,294 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in shares of Pepsico by 73.1% during the first quarter. State of New Jersey Common Pension Fund D now owns 1,539,600 shares of the company’s stock valued at $172,220,000 after acquiring an additional 650,000 shares during the last quarter. 70.17% of the stock is currently owned by institutional investors.
In other Pepsico news, EVP Mehmood Khan sold 63,396 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the sale, the executive vice president now owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Marie T. Gallagher sold 41,489 shares of the stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the completion of the sale, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. Insiders sold 898,164 shares of company stock worth $104,585,929 in the last 90 days. 0.26% of the stock is currently owned by insiders.
PEP has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Tuesday, August 22nd. Credit Suisse Group cut shares of Pepsico from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $126.00 to $124.00 in a research report on Friday, September 8th. Jefferies Group LLC cut shares of Pepsico from a “buy” rating to a “hold” rating and dropped their price target for the company from $133.00 to $108.00 in a research report on Monday, October 2nd. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $115.00 price target on shares of Pepsico in a research report on Wednesday, September 6th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $121.80.
Pepsico, Inc. (PEP) opened at 111.51 on Thursday. The firm’s 50-day moving average is $113.49 and its 200 day moving average is $114.72. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39. The firm has a market cap of $158.58 billion, a PE ratio of 23.04 and a beta of 0.68.
Pepsico (NYSE:PEP) last posted its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ 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 firm 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. Pepsico’s revenue for the quarter was up 1.3% compared to the same quarter last year. Equities research analysts predict that Pepsico, Inc. will post $5.23 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were issued a $0.805 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $3.22 annualized dividend and a yield of 2.89%. Pepsico’s payout ratio is 66.53%.
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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