Shell Asset Management Co. Has $46,780,000 Stake in PepsiCo Inc. (PEP)
Shell Asset Management Co. cut its stake in PepsiCo Inc. (NYSE:PEP) by 1.7% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 430,078 shares of the company’s stock after selling 7,439 shares during the period. PepsiCo makes up about 1.1% of Shell Asset Management Co.’s investment portfolio, making the stock its 7th largest position. Shell Asset Management Co.’s holdings in PepsiCo were worth $46,780,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in shares of PepsiCo by 40.9% in the first quarter. Wellington Management Group LLP now owns 21,691,078 shares of the company’s stock valued at $2,222,902,000 after buying an additional 6,297,861 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of PepsiCo during the second quarter valued at $519,379,000. Emerald Acquisition Ltd. purchased a new position in shares of PepsiCo during the second quarter valued at $370,675,000. Winslow Capital Management LLC purchased a new position in shares of PepsiCo during the second quarter valued at $358,422,000. Finally, Vanguard Group Inc. boosted its position in shares of PepsiCo by 2.3% in the second quarter. Vanguard Group Inc. now owns 100,515,744 shares of the company’s stock valued at $10,648,637,000 after buying an additional 2,290,350 shares in the last quarter. 70.08% of the stock is owned by institutional investors.
Shares of PepsiCo Inc. (NYSE:PEP) opened at 107.25 on Thursday. The firm has a market cap of $153.82 billion, a price-to-earnings ratio of 23.53 and a beta of 0.54. PepsiCo Inc. has a 12-month low of $93.25 and a 12-month high of $110.94. The firm has a 50-day moving average price of $106.89 and a 200-day moving average price of $105.93.
PepsiCo (NYSE:PEP) last released its quarterly earnings data on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.08. The firm had revenue of $16 billion for the quarter. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. PepsiCo’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 EPS. Equities research analysts anticipate that PepsiCo Inc. will post $4.81 EPS for the current year.
Several brokerages recently weighed in on PEP. Zacks Investment Research cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $118.00 price target on shares of PepsiCo in a research report on Wednesday, August 10th. BMO Capital Markets reiterated an “outperform” rating on shares of PepsiCo in a research report on Friday, July 15th. Credit Agricole SA reiterated an “outperform” rating on shares of PepsiCo in a research report on Monday, August 22nd. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $121.00 price target on shares of PepsiCo in a research report on Friday, September 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the company’s stock. PepsiCo currently has a consensus rating of “Buy” and an average price target of $113.68.
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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