PepsiCo Inc. (PEP) Shares Sold by Private Asset Management Inc.
Private Asset Management Inc. lowered its position in PepsiCo Inc. (NYSE:PEP) by 0.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,733 shares of the company’s stock after selling 460 shares during the period. Private Asset Management Inc.’s holdings in PepsiCo were worth $7,585,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Accredited Investors Inc. raised its position in shares of PepsiCo by 5.0% in the first quarter. Accredited Investors Inc. now owns 5,249 shares of the company’s stock worth $538,000 after buying an additional 251 shares during the period. Meeder Asset Management Inc. raised its position in shares of PepsiCo by 134.3% in the first quarter. Meeder Asset Management Inc. now owns 35,967 shares of the company’s stock worth $3,686,000 after buying an additional 20,619 shares during the period. Lazard Asset Management LLC raised its position in shares of PepsiCo by 14.4% in the first quarter. Lazard Asset Management LLC now owns 561,525 shares of the company’s stock worth $57,544,000 after buying an additional 70,691 shares during the period. Scotia Capital Inc. raised its position in shares of PepsiCo by 11.2% in the first quarter. Scotia Capital Inc. now owns 260,896 shares of the company’s stock worth $26,746,000 after buying an additional 26,326 shares during the period. Finally, Pictet Asset Management Ltd. raised its position in shares of PepsiCo by 14.0% in the first quarter. Pictet Asset Management Ltd. now owns 1,216,274 shares of the company’s stock worth $118,976,000 after buying an additional 149,187 shares during the period. 69.57% of the stock is currently owned by institutional investors.
Shares of PepsiCo Inc. (NYSE:PEP) traded up 0.63% on Friday, reaching $102.17. 3,644,945 shares of the company traded hands. The firm has a 50-day moving average of $105.22 and a 200-day moving average of $105.82. PepsiCo Inc. has a 52-week low of $93.25 and a 52-week high of $110.94. The company has a market capitalization of $146.53 billion, a PE ratio of 22.42 and a beta of 0.54.
PepsiCo (NYSE:PEP) last released its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.08. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. The company earned $16 billion during the quarter. During the same period in the previous year, the company posted $1.35 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities research analysts forecast that PepsiCo Inc. will post $4.81 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Friday, December 2nd will be paid a $0.7525 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $3.01 annualized dividend and a dividend yield of 2.95%. PepsiCo’s payout ratio is 66.01%.
PEP has been the topic of a number of research reports. Zacks Investment Research upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $116.00 target price on the stock in a research report on Monday, November 14th. Vetr upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 target price on the stock in a research report on Wednesday, September 7th. Bank of America Corp. reiterated a “buy” rating and issued a $120.00 price objective on shares of PepsiCo in a research report on Thursday, September 22nd. Credit Suisse Group AG started coverage on shares of PepsiCo in a research report on Thursday, September 15th. They issued an “outperform” rating and a $121.00 price objective on the stock. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $120.00 price objective on shares of PepsiCo in a research report on Monday, October 3rd. Nine research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. PepsiCo currently has an average rating of “Buy” and an average target price of $113.71.
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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