Personal Capital Advisors Corp Takes Position in Pepsico, Inc. (PEP)
Personal Capital Advisors Corp acquired a new position in shares of Pepsico, Inc. (NYSE:PEP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,360 shares of the company’s stock, valued at approximately $265,000.
Several other hedge funds have also bought and sold shares of PEP. Asset Planning Services Ltd. boosted its stake in Pepsico by 66.1% in the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after buying an additional 399 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new stake in Pepsico during the fourth quarter worth approximately $125,000. Leith Wheeler Investment Counsel Ltd. acquired a new stake in Pepsico during the first quarter worth approximately $157,000. Israel Discount Bank of New York GFN purchased a new stake in shares of Pepsico during the fourth quarter worth about $150,000. Finally, Granite Investment Advisors LLC purchased a new stake in shares of Pepsico during the first quarter worth about $204,000. Institutional investors and hedge funds own 70.44% of the company’s stock.
Shares of Pepsico, Inc. (PEP) traded up 0.06% during midday trading on Friday, reaching $116.37. The company’s stock had a trading volume of 2,920,429 shares. The firm has a market capitalization of $165.89 billion, a price-to-earnings ratio of 24.64 and a beta of 0.67. The firm’s 50 day moving average is $116.01 and its 200 day moving average is $112.24. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $118.24. Pepsico also was the recipient of some unusual options trading on Wednesday. Stock investors acquired 1,176 call options on the company. This represents an increase of approximately 536% compared to the typical daily volume of 185 call options.
Pepsico (NYSE:PEP) last issued its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.35 earnings per share. Equities analysts forecast that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Wednesday, August 30th. Pepsico’s dividend payout ratio is presently 68.22%.
PEP has been the topic of a number of research analyst reports. UBS AG raised Pepsico from a “neutral” rating to a “positive” rating in a research note on Wednesday, April 12th. Susquehanna Bancshares Inc raised Pepsico from a “neutral” rating to a “positive” rating and lifted their price target for the stock from $118.00 to $132.00 in a research note on Wednesday, April 12th. Zacks Investment Research lowered Pepsico from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Jefferies Group LLC lifted their price target on Pepsico from $120.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Finally, Royal Bank Of Canada set a $115.00 price objective on Pepsico and gave the stock a “hold” rating in a research note on Monday, April 24th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $123.04.
In other Pepsico news, EVP Mehmood Khan sold 63,396 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the transaction, the executive vice president now owns 174,273 shares in the company, valued at $20,283,634.47. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Indra K. Nooyi sold 340,449 shares of Pepsico stock in a transaction dated 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 sale, the chief executive officer now directly owns 733,315 shares in the company, valued at $85,372,532.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 856,675 shares of company stock worth $99,741,258. 0.26% of the stock is currently owned by insiders.
Pepsico Company Profile
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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