PepsiCo Inc. (PEP) Position Lowered by Hartford Investment Management Co.
Hartford Investment Management Co. decreased its position in shares of PepsiCo Inc. (NYSE:PEP) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 369,007 shares of the company’s stock after selling 9,388 shares during the period. PepsiCo accounts for 0.8% of Hartford Investment Management Co.’s portfolio, making the stock its 22nd largest position. Hartford Investment Management Co.’s holdings in PepsiCo were worth $39,093,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. D. Scott Neal Inc. raised its position in shares of PepsiCo by 8.1% in the second quarter. D. Scott Neal Inc. now owns 944 shares of the company’s stock worth $100,000 after buying an additional 71 shares during the last quarter. Piershale Financial Group Inc. raised its position in shares of PepsiCo by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock worth $106,000 after buying an additional 4 shares during the last quarter. Gradient Investments LLC raised its position in shares of PepsiCo by 7.0% in the second quarter. Gradient Investments LLC now owns 1,530 shares of the company’s stock worth $162,000 after buying an additional 100 shares during the last quarter. Tiemann Investment Advisors LLC purchased a new position in shares of PepsiCo during the first quarter worth $200,000. Finally, Augustine Asset Management Inc. purchased a new position in shares of PepsiCo during the second quarter worth $201,000. Hedge funds and other institutional investors own 70.06% of the company’s stock.
Shares of PepsiCo Inc. (NYSE:PEP) traded down 0.61% during mid-day trading on Tuesday, hitting $105.57. The company had a trading volume of 3,814,397 shares. The company has a market cap of $151.41 billion, a PE ratio of 23.16 and a beta of 0.46. The firm has a 50-day moving average of $106.90 and a 200-day moving average of $105.42. PepsiCo Inc. has a 12 month low of $93.25 and a 12 month high of $110.94.
PepsiCo (NYSE:PEP) last posted its earnings results on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.08. The company had revenue of $16 billion for the quarter. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same period last year, the company posted $1.35 EPS. On average, analysts expect that PepsiCo Inc. will post $4.79 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Wednesday, August 31st. PepsiCo’s dividend payout ratio (DPR) is 66.01%.
A number of brokerages have weighed in on PEP. BMO Capital Markets restated an “outperform” rating on shares of PepsiCo in a report on Friday, July 15th. Zacks Investment Research lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Vetr lowered PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 price objective on the stock. in a report on Wednesday, June 29th. Bank of America Corp. restated a “buy” rating and issued a $120.00 price objective on shares of PepsiCo in a report on Friday, September 30th. Finally, Argus raised their price objective on PepsiCo from $116.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $113.68.
In other PepsiCo news, CEO Laxman Narasimhan sold 3,219 shares of the company’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $109.11, for a total value of $351,225.09. Following the sale, the chief executive officer now owns 97,057 shares of the company’s stock, valued at $10,589,889.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mehmood Khan sold 51,137 shares of the company’s stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $107.30, for a total value of $5,487,000.10. Following the completion of the sale, the executive vice president now directly owns 164,464 shares in the company, valued at approximately $17,646,987.20. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.
PepsiCo Company Profile
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.
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