Beach Investment Counsel Inc. PA Acquires 45,367 Shares of PepsiCo Inc. (PEP)
Beach Investment Counsel Inc. PA raised its position in PepsiCo Inc. (NYSE:PEP) by 55.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,505 shares of the company’s stock after buying an additional 45,367 shares during the period. PepsiCo accounts for approximately 1.6% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its 18th largest position. Beach Investment Counsel Inc. PA’s holdings in PepsiCo were worth $13,402,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP raised its position in PepsiCo by 40.9% in the first quarter. Wellington Management Group LLP now owns 21,691,078 shares of the company’s stock worth $2,222,902,000 after buying an additional 6,297,861 shares in the last quarter. Bank of Montreal Can acquired a new position in PepsiCo during the second quarter worth about $519,379,000. Emerald Acquisition Ltd. acquired a new position in PepsiCo during the second quarter worth about $370,675,000. Winslow Capital Management LLC acquired a new position in PepsiCo during the second quarter worth about $358,422,000. Finally, Vanguard Group Inc. raised its position in PepsiCo by 2.3% in the second quarter. Vanguard Group Inc. now owns 100,515,744 shares of the company’s stock worth $10,648,637,000 after buying an additional 2,290,350 shares in the last quarter. 69.99% of the stock is owned by institutional investors.
PepsiCo Inc. (NYSE:PEP) traded down 0.31% during mid-day trading on Friday, hitting $101.31. 4,919,150 shares of the company were exchanged. PepsiCo Inc. has a 12 month low of $93.25 and a 12 month high of $110.94. The stock has a market cap of $145.30 billion, a price-to-earnings ratio of 22.23 and a beta of 0.54. The firm has a 50 day moving average price of $106.65 and a 200 day moving average price of $105.92.
PepsiCo (NYSE:PEP) last announced its earnings results on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm earned $1.35 earnings per share. Analysts anticipate that PepsiCo Inc. will post $4.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 2nd will be given a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date is Wednesday, November 30th. PepsiCo’s dividend payout ratio (DPR) is presently 66.01%.
Several research firms have recently weighed in on PEP. Zacks Investment Research lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Friday. Vetr raised shares of PepsiCo from a “buy” rating to a “strong-buy” rating and set a $113.72 target price for the company in a report on Tuesday. Deutsche Bank AG reaffirmed a “buy” rating and set a $120.00 target price on shares of PepsiCo in a report on Monday, October 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $121.00 target price on shares of PepsiCo in a report on Friday, September 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $120.00 target price (up from $116.00) on shares of PepsiCo in a report on Friday, September 30th. Nine research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $113.77.
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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