Focused Investors LLC trimmed its stake in Pepsico, Inc. (NYSE:PEP) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 965,700 shares of the company’s stock after selling 29,100 shares during the quarter. Pepsico accounts for 4.6% of Focused Investors LLC’s portfolio, making the stock its 10th largest position. Focused Investors LLC owned about 0.07% of Pepsico worth $107,608,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of PEP. Swedbank lifted its position in shares of Pepsico by 4.2% in the first quarter. Swedbank now owns 573,900 shares of the company’s stock worth $64,196,000 after purchasing an additional 22,903 shares in the last quarter. Linscomb & Williams Inc. lifted its position in shares of Pepsico by 7.8% in the first quarter. Linscomb & Williams Inc. now owns 40,488 shares of the company’s stock worth $4,529,000 after purchasing an additional 2,932 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Pepsico by 92.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock worth $371,065,000 after purchasing an additional 1,593,550 shares in the last quarter. Tocqueville Asset Management L.P. lifted its position in shares of Pepsico by 9.0% in the first quarter. Tocqueville Asset Management L.P. now owns 309,545 shares of the company’s stock worth $34,626,000 after purchasing an additional 25,554 shares in the last quarter. Finally, Millie Capital Management LLC purchased a new stake in shares of Pepsico in the first quarter worth approximately $202,000. 70.08% of the stock is owned by institutional investors and hedge funds.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.
Pepsico (NYSE:PEP) last released its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The firm had revenue of $16.24 billion for the quarter, compared to the consensus estimate of $16.35 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. analysts expect that Pepsico, Inc. will post 5.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be issued a dividend of $0.805 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.22 annualized dividend and a yield of 2.72%. Pepsico’s dividend payout ratio (DPR) is presently 66.53%.
A number of analysts have recently issued reports on PEP shares. BidaskClub lowered shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Zacks Investment Research downgraded Pepsico from a “buy” rating to a “hold” rating in a report on Monday, August 28th. BMO Capital Markets restated a “hold” rating and issued a $120.00 price objective on shares of Pepsico in a report on Wednesday, September 6th. Royal Bank of Canada restated a “hold” rating and issued a $115.00 price objective on shares of Pepsico in a report on Wednesday, September 6th. Finally, Credit Suisse Group downgraded Pepsico from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $126.00 to $124.00 in a report on Friday, September 8th. Eight investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $122.73.
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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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