Pepsico, Inc. (NYSE:PEP) Position Increased by Carlton Hofferkamp & Jenks Wealth Management LLC
Carlton Hofferkamp & Jenks Wealth Management LLC boosted its position in shares of Pepsico, Inc. (NYSE:PEP) by 4.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,549 shares of the company’s stock after buying an additional 371 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in Pepsico were worth $956,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Elgethun Capital Management acquired a new position in Pepsico during the fourth quarter worth about $734,000. Cleararc Capital Inc. increased its position in Pepsico by 3.4% in the fourth quarter. Cleararc Capital Inc. now owns 54,673 shares of the company’s stock worth $5,720,000 after buying an additional 1,781 shares during the last quarter. State Street Corp increased its position in Pepsico by 1.8% in the fourth quarter. State Street Corp now owns 63,651,479 shares of the company’s stock worth $6,663,170,000 after buying an additional 1,115,697 shares during the last quarter. Horizon Investments LLC increased its position in Pepsico by 326.4% in the fourth quarter. Horizon Investments LLC now owns 18,353 shares of the company’s stock worth $1,920,000 after buying an additional 14,049 shares during the last quarter. Finally, Northwest Wealth Management LLC purchased a new position in shares of Pepsico during the fourth quarter valued at $261,000. Institutional investors and hedge funds own 70.44% of the company’s stock.
Shares of Pepsico, Inc. (PEP) traded up 0.60% on Thursday, reaching $116.30. The company’s stock had a trading volume of 2,986,158 shares. The company has a 50 day moving average of $116.01 and a 200 day moving average of $112.24. The stock has a market capitalization of $165.79 billion, a P/E ratio of 24.59 and a beta of 0.67. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $118.24. Pepsico also saw some unusual options trading on Wednesday. Stock investors purchased 1,176 call options on the stock. This represents an increase of 536% compared to the typical daily volume of 185 call options.
Pepsico (NYSE:PEP) last issued its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The company had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $15.57 billion. During the same period last year, the firm earned $1.35 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities research analysts expect that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, August 30th. Pepsico’s dividend payout ratio (DPR) is presently 68.22%.
Several research firms have recently issued reports on PEP. Zacks Investment Research cut shares of Pepsico from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Jefferies Group LLC restated a “buy” rating and issued a $130.00 price target (up previously from $127.00) on shares of Pepsico in a research report on Thursday, July 6th. Vetr upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $125.54 price objective on the stock in a research report on Wednesday, April 26th. Credit Suisse Group reiterated a “buy” rating on shares of Pepsico in a research report on Thursday, April 27th. Finally, BMO Capital Markets reissued a “buy” rating and set a $115.00 target price on shares of Pepsico in a research note on Thursday, April 27th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $123.04.
In other news, CEO Indra K. Nooyi sold 340,449 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.42, for a total value of $39,635,072.58. Following the completion of the sale, the chief executive officer now owns 733,315 shares of the company’s stock, valued at $85,372,532.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mehmood Khan sold 63,396 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the sale, the executive vice president now directly owns 174,273 shares of the company’s stock, valued at approximately $20,283,634.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 856,675 shares of company stock worth $99,741,258. 0.26% of the stock is owned by 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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