Webster Bank N. A. Reduces Position in PepsiCo, Inc. (PEP)

Webster Bank N. A. reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 78,671 shares of the company’s stock after selling 532 shares during the period. PepsiCo comprises approximately 1.2% of Webster Bank N. A.’s holdings, making the stock its 16th largest holding. Webster Bank N. A.’s holdings in PepsiCo were worth $8,795,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Mainstay Capital Management LLC ADV increased its position in PepsiCo by 10,787.0% in the second quarter. Mainstay Capital Management LLC ADV now owns 10,887 shares of the company’s stock worth $100,000 after buying an additional 10,787 shares during the period. WP Advisors LLC acquired a new stake in PepsiCo in the second quarter worth $118,000. Fort L.P. acquired a new stake in PepsiCo in the second quarter worth $125,000. Canton Hathaway LLC acquired a new stake in PepsiCo in the third quarter worth $127,000. Finally, Atlas Capital Advisors LLC increased its position in PepsiCo by 85.7% in the second quarter. Atlas Capital Advisors LLC now owns 1,300 shares of the company’s stock worth $149,000 after buying an additional 600 shares during the period. 70.58% of the stock is currently owned by institutional investors and hedge funds.

Shares of PEP stock opened at $121.94 on Monday. PepsiCo, Inc. has a fifty-two week low of $95.94 and a fifty-two week high of $122.51. The stock has a market cap of $172.13 billion, a P/E ratio of 23.32, a PEG ratio of 3.05 and a beta of 0.59. The company has a quick ratio of 1.15, a current ratio of 1.31 and a debt-to-equity ratio of 2.95.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.02. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The business had revenue of $16.49 billion during the quarter, compared to analysts’ expectations of $16.38 billion. During the same quarter last year, the business posted $1.48 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. As a group, sell-side analysts predict that PepsiCo, Inc. will post 5.65 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Investors of record on Friday, December 7th will be paid a dividend of $0.9275 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $3.71 annualized dividend and a yield of 3.04%. PepsiCo’s dividend payout ratio is currently 70.94%.

In related news, CEO Laxman Narasimhan sold 5,500 shares of the stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $106.79, for a total value of $587,345.00. Following the completion of the transaction, the chief executive officer now owns 130,135 shares in the company, valued at approximately $13,897,116.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mike Spanos sold 20,074 shares of the stock in a transaction on Wednesday, October 31st. The shares were sold at an average price of $112.42, for a total value of $2,256,719.08. Following the completion of the transaction, the chief executive officer now owns 35,520 shares of the company’s stock, valued at approximately $3,993,158.40. The disclosure for this sale can be found here. Insiders have sold 205,893 shares of company stock valued at $22,663,157 in the last ninety days. Company insiders own 0.27% of the company’s stock.

A number of brokerages have recently commented on PEP. BidaskClub lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. Susquehanna Bancshares lowered their price target on PepsiCo from $136.00 to $135.00 and set a “positive” rating on the stock in a report on Friday, September 28th. Citigroup lowered their price target on PepsiCo from $118.00 to $116.00 and set a “hold” rating on the stock in a report on Wednesday, October 3rd. Guggenheim began coverage on PepsiCo in a report on Thursday, September 13th. They set a “neutral” rating and a $117.00 price target on the stock. Finally, BMO Capital Markets lowered their price target on PepsiCo from $110.00 to $109.00 and set a “market perform” rating on the stock in a report on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $117.89.

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PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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