Manchester Capital Management LLC Continues to Hold Position in Pepsico, Inc. (PEP)
Manchester Capital Management LLC held its stake in shares of Pepsico, Inc. (NYSE:PEP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,390 shares of the company’s stock at the end of the first quarter. Manchester Capital Management LLC’s holdings in Pepsico were worth $827,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the company. Franklin Resources Inc. increased its stake in shares of Pepsico by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 15,671,152 shares of the company’s stock valued at $1,639,677,000 after buying an additional 340,666 shares in the last quarter. Norges Bank bought a new stake in shares of Pepsico during the fourth quarter valued at $1,492,411,000. Bank of Montreal Can increased its stake in shares of Pepsico by 16.6% in the first quarter. Bank of Montreal Can now owns 5,812,519 shares of the company’s stock valued at $650,189,000 after buying an additional 827,376 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Pepsico by 0.9% in the first quarter. Fisher Asset Management LLC now owns 5,497,671 shares of the company’s stock valued at $614,970,000 after buying an additional 50,154 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Pepsico by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,519,928 shares of the company’s stock worth $368,300,000 after buying an additional 123,376 shares during the period. 70.52% of the stock is owned by hedge funds and other institutional investors.
Pepsico, Inc. (NYSE:PEP) opened at 116.96 on Tuesday. The firm has a market capitalization of $166.73 billion, a price-to-earnings ratio of 24.77 and a beta of 0.67. The stock has a 50 day moving average price of $116.01 and a 200 day moving average price of $112.24. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $118.24.
Pepsico (NYSE:PEP) last issued its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping 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 analyst estimates of $15.57 billion. During the same period in the prior year, the firm posted $1.35 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. Analysts predict that Pepsico, Inc. will post $5.16 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, August 30th. Pepsico’s payout ratio is currently 68.22%.
COPYRIGHT VIOLATION WARNING: This news story was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another publication, it was illegally stolen and reposted in violation of United States and international copyright & trademark law. The correct version of this news story can be viewed at https://www.thecerbatgem.com/2017/08/08/manchester-capital-management-llc-has-827000-position-in-pepsico-inc-pep-updated-updated-updated.html.
A number of equities research analysts have commented on PEP shares. Zacks Investment Research downgraded Pepsico from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Jefferies Group LLC reissued a “buy” rating and issued a $130.00 target price (up previously from $127.00) on shares of Pepsico in a report on Thursday, July 6th. Vetr raised Pepsico from a “hold” rating to a “buy” rating and set a $125.54 target price for the company in a report on Wednesday, April 26th. Credit Suisse Group reissued a “buy” rating on shares of Pepsico in a report on Thursday, April 27th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $115.00 target price on shares of Pepsico in a report on Thursday, April 27th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $123.04.
In other news, CEO Indra K. Nooyi sold 340,449 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the transaction, the chief executive officer now owns 733,315 shares of the company’s stock, valued at approximately $85,372,532.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mehmood Khan sold 63,396 shares of the stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.39, for a total value of $7,378,660.44. Following the transaction, the executive vice president now directly owns 174,273 shares in the company, valued at approximately $20,283,634.47. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 856,675 shares of company stock worth $99,741,258. Insiders own 0.26% of the company’s stock.
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).
Receive News & Stock Ratings for Pepsico Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pepsico Inc. and related stocks with our FREE daily email newsletter.