Robeco Institutional Asset Management B.V. lifted its stake in shares of Pepsico, Inc. (NYSE:PEP) by 5.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,704,223 shares of the company’s stock after buying an additional 84,830 shares during the quarter. Pepsico makes up approximately 1.2% of Robeco Institutional Asset Management B.V.’s portfolio, making the stock its 6th biggest position. Robeco Institutional Asset Management B.V. owned 0.12% of Pepsico worth $189,904,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Asset Planning Services Ltd. boosted its holdings in Pepsico by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock valued at $116,000 after purchasing an additional 3 shares in the last quarter. Accurate Investment Solutions Inc. lifted its stake in Pepsico by 0.3% in the second quarter. Accurate Investment Solutions Inc. now owns 1,851 shares of the company’s stock valued at $214,000 after buying an additional 5 shares during the last quarter. Northwest Wealth Management LLC lifted its stake in Pepsico by 0.4% in the second quarter. Northwest Wealth Management LLC now owns 2,511 shares of the company’s stock valued at $290,000 after buying an additional 11 shares during the last quarter. Sunbelt Securities Inc. lifted its stake in Pepsico by 0.3% in the second quarter. Sunbelt Securities Inc. now owns 4,682 shares of the company’s stock valued at $541,000 after buying an additional 12 shares during the last quarter. Finally, Willingdon Wealth Management lifted its stake in Pepsico by 0.3% in the first quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock valued at $714,000 after buying an additional 16 shares during the last quarter. 70.08% of the stock is owned by institutional investors and hedge funds.
PEP has been the subject of a number of research reports. Jefferies Group cut Pepsico from a “buy” rating to a “hold” rating and reduced their price objective for the company from $133.00 to $108.00 in a research note on Monday, October 2nd. Credit Suisse Group cut Pepsico from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $126.00 to $124.00 in a research note on Friday, September 8th. Zacks Investment Research cut Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Royal Bank of Canada reiterated a “hold” rating and issued a $115.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. Finally, Deutsche Bank reiterated a “buy” rating and issued a $122.00 price objective (down previously from $125.00) on shares of Pepsico in a research note on Friday, October 6th. Eight analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Pepsico presently has a consensus rating of “Buy” and an average price target of $122.73.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.05. The business 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 company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.40 earnings per share. research analysts forecast that Pepsico, Inc. will post 5.22 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be given a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.71%. The ex-dividend date is Thursday, November 30th. Pepsico’s payout ratio is 66.53%.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.
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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