73,837 Shares in PepsiCo, Inc. (PEP) Acquired by Glenview Trust Co
Glenview Trust Co acquired a new position in PepsiCo, Inc. (NYSE:PEP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 73,837 shares of the company’s stock, valued at approximately $7,726,000.
Several other hedge funds have also recently added to or reduced their stakes in PEP. Itau Unibanco Holding S.A. acquired a new stake in shares of PepsiCo during the third quarter worth $101,000. Piershale Financial Group Inc. boosted its stake in shares of PepsiCo by 0.4% in the third quarter. Piershale Financial Group Inc. now owns 1,009 shares of the company’s stock worth $110,000 after buying an additional 4 shares during the period. Edmond DE Rothschild Monaco acquired a new stake in shares of PepsiCo during the third quarter worth $131,000. Peddock Capital Advisors LLC acquired a new stake in shares of PepsiCo during the third quarter worth $152,000. Finally, NewSquare Capital LLC boosted its stake in shares of PepsiCo by 2.8% in the third quarter. NewSquare Capital LLC now owns 1,622 shares of the company’s stock worth $176,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 70.43% of the company’s stock.
PepsiCo, Inc. (NYSE:PEP) opened at 111.15 on Tuesday. The stock has a market capitalization of $158.63 billion, a PE ratio of 25.50 and a beta of 0.53. PepsiCo, Inc. has a 52-week low of $98.50 and a 52-week high of $111.52. The firm has a 50-day moving average of $107.86 and a 200-day moving average of $105.68.
PepsiCo (NYSE:PEP) last released its quarterly earnings results on Wednesday, February 15th. The company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.16 by $0.04. The business earned $19.52 billion during the quarter, compared to analysts’ expectations of $19.51 billion. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. The firm’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 EPS. On average, equities analysts expect that PepsiCo, Inc. will post $5.12 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 3rd will be issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 2.71%. The ex-dividend date is Wednesday, March 1st. PepsiCo’s dividend payout ratio is presently 66.01%.
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A number of analysts recently weighed in on PEP shares. Credit Suisse Group AG reaffirmed a “buy” rating and set a $115.00 price target on shares of PepsiCo in a research report on Thursday, February 16th. Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $115.00 price target for the company in a research report on Tuesday, November 29th. Societe Generale raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Monday, December 12th. BMO Capital Markets reaffirmed a “buy” rating and set a $115.00 price target on shares of PepsiCo in a research report on Thursday, February 16th. Finally, Jefferies Group LLC upped their price target on shares of PepsiCo from $118.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, February 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $112.76.
In other PepsiCo news, EVP Cynthia Trudell sold 9,000 shares of the firm’s stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $109.57, for a total transaction of $986,130.00. Following the completion of the transaction, the executive vice president now owns 38,739 shares in the company, valued at approximately $4,244,632.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ramon Laguarta sold 23,585 shares of the firm’s stock in a transaction that occurred on Tuesday, February 28th. The shares were sold at an average price of $109.05, for a total value of $2,571,944.25. Following the transaction, the chief executive officer now owns 135,859 shares of the company’s stock, valued at approximately $14,815,423.95. The disclosure for this sale can be found here. Insiders have sold a total of 44,343 shares of company stock valued at $4,850,480 in the last 90 days. 0.33% of the stock is currently owned by company insiders.
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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