JLB & Associates Inc. Acquires New Position in Pepsico, Inc. (PEP)

JLB & Associates Inc. acquired a new position in Pepsico, Inc. (NYSE:PEP) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 80,731 shares of the company’s stock, valued at approximately $9,323,000. Pepsico accounts for approximately 2.4% of JLB & Associates Inc.’s holdings, making the stock its 19th biggest holding.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. OLD Point Trust & Financial Services N A raised its stake in Pepsico by 0.4% during the 1st quarter. OLD Point Trust & Financial Services N A now owns 62,111 shares of the company’s stock valued at $6,948,000 after purchasing an additional 229 shares during the period. Abner Herrman & Brock LLC raised its stake in Pepsico by 3.6% during the 1st quarter. Abner Herrman & Brock LLC now owns 109,264 shares of the company’s stock valued at $12,222,000 after purchasing an additional 3,799 shares during the period. Wagner Bowman Management Corp raised its stake in Pepsico by 3.3% during the 1st quarter. Wagner Bowman Management Corp now owns 36,857 shares of the company’s stock valued at $4,122,000 after purchasing an additional 1,181 shares during the period. Hudson Valley Investment Advisors Inc. ADV raised its stake in Pepsico by 0.8% during the 1st quarter. Hudson Valley Investment Advisors Inc. ADV now owns 61,995 shares of the company’s stock valued at $6,935,000 after purchasing an additional 513 shares during the period. Finally, V Wealth Management LLC raised its stake in Pepsico by 20.8% during the 1st quarter. V Wealth Management LLC now owns 6,939 shares of the company’s stock valued at $781,000 after purchasing an additional 1,196 shares during the period. 70.53% of the stock is currently owned by hedge funds and other institutional investors.

Pepsico, Inc. (NYSE:PEP) opened at 109.65 on Tuesday. The stock has a market cap of $155.94 billion, a PE ratio of 22.66 and a beta of 0.68. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39. The company’s 50-day moving average price is $111.97 and its 200-day moving average price is $114.69.

Pepsico (NYSE:PEP) last posted its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.05. The company had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.40 earnings per share. On average, equities analysts expect that Pepsico, Inc. will post $5.22 EPS for the current fiscal year.

In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the firm’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the firm’s stock in a transaction 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 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. 0.26% of the stock is owned by company insiders.

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PEP has been the topic of several recent analyst reports. Susquehanna Bancshares Inc reissued a “positive” rating and set a $133.00 target price (down previously from $134.00) on shares of Pepsico in a research note on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and set a $130.00 target price (up previously from $127.00) on shares of Pepsico in a research note on Thursday, July 6th. J P Morgan Chase & Co reissued an “overweight” rating on shares of Pepsico in a research note on Wednesday, July 12th. Credit Suisse Group lifted their target price on Pepsico from $124.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, July 12th. Finally, Cowen and Company reissued an “outperform” rating and set a $128.00 target price on shares of Pepsico in a research note on Thursday, July 13th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $121.35.

About Pepsico

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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