Cypress Capital Management LLC WY Continues to Hold Position in Pepsico, Inc. (PEP)
Cypress Capital Management LLC WY held its stake in Pepsico, Inc. (NYSE:PEP) during the second quarter, Holdings Channel reports. The institutional investor owned 1,218 shares of the company’s stock at the end of the second quarter. Cypress Capital Management LLC WY’s holdings in Pepsico were worth $141,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the stock. Mitchell Sinkler & Starr PA boosted its stake in Pepsico by 1.7% in the second quarter. Mitchell Sinkler & Starr PA now owns 12,678 shares of the company’s stock valued at $1,464,000 after buying an additional 210 shares in the last quarter. Prospera Financial Services Inc boosted its stake in Pepsico by 34.1% in the second quarter. Prospera Financial Services Inc now owns 13,237 shares of the company’s stock valued at $1,527,000 after buying an additional 3,369 shares in the last quarter. Founders Capital Management boosted its stake in Pepsico by 23.0% in the second quarter. Founders Capital Management now owns 11,334 shares of the company’s stock valued at $1,309,000 after buying an additional 2,117 shares in the last quarter. Highland Capital Management LLC boosted its stake in Pepsico by 42.1% in the second quarter. Highland Capital Management LLC now owns 125,009 shares of the company’s stock valued at $14,437,000 after buying an additional 37,043 shares in the last quarter. Finally, Sit Investment Associates Inc. boosted its stake in Pepsico by 11.0% in the second quarter. Sit Investment Associates Inc. now owns 429,700 shares of the company’s stock valued at $49,626,000 after buying an additional 42,430 shares in the last quarter. 70.19% of the stock is owned by institutional investors.
Shares of Pepsico, Inc. (PEP) traded down 0.52% during mid-day trading on Friday, hitting $117.78. The stock had a trading volume of 1,727,774 shares. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $119.39. The company has a market capitalization of $167.90 billion, a P/E ratio of 24.94 and a beta of 0.67. The stock’s 50-day moving average price is $116.09 and its 200 day moving average price is $113.22. Pepsico also was the target of unusually large options trading on Wednesday. Stock investors purchased 1,176 call options on the company. This is an increase of approximately 536% compared to the average 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. During the same quarter in the prior year, the firm earned $1.35 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts predict that Pepsico, Inc. will post $5.16 EPS for the current fiscal 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 issued a $0.805 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a yield of 2.72%. Pepsico’s payout ratio is presently 68.22%.
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Several equities research analysts have recently weighed in on the company. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday. Zacks Investment Research cut Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Cowen and Company reissued an “outperform” rating and issued a $128.00 price objective on shares of Pepsico in a research report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and issued a $133.00 price objective (up from $130.00) on shares of Pepsico in a research report on Wednesday, July 12th. Finally, Credit Suisse Group increased their price objective on Pepsico from $124.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, July 12th. Five research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Pepsico presently has an average rating of “Buy” and an average price target of $123.40.
In other Pepsico news, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 174,273 shares of the company’s stock, valued at approximately $20,283,634.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.77, for a total value of $4,844,670.53. Following the completion of the transaction, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. In the last ninety days, insiders sold 898,164 shares of company stock valued at $104,585,929. 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).
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