Pepsico, Inc. (PEP) Stake Increased by Cranbrook Wealth Management LLC
Cranbrook Wealth Management LLC raised its stake in Pepsico, Inc. (NYSE:PEP) by 0.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 3,060 shares of the company’s stock after buying an additional 5 shares during the period. Cranbrook Wealth Management LLC’s holdings in Pepsico were worth $342,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in Pepsico by 14.6% in the first quarter. Russell Investments Group Ltd. now owns 3,881,793 shares of the company’s stock valued at $434,310,000 after buying an additional 495,542 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its position in Pepsico by 73.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 1,539,600 shares of the company’s stock valued at $172,220,000 after buying an additional 650,000 shares during the last quarter. QV Investors Inc. boosted its position in Pepsico by 18.4% in the first quarter. QV Investors Inc. now owns 37,420 shares of the company’s stock valued at $4,185,000 after buying an additional 5,810 shares during the last quarter. Parsec Financial Management Inc. boosted its position in Pepsico by 2.7% in the first quarter. Parsec Financial Management Inc. now owns 183,302 shares of the company’s stock valued at $20,504,000 after buying an additional 4,823 shares during the last quarter. Finally, Paragon Capital Management Ltd acquired a new position in Pepsico during the first quarter valued at about $889,000. Institutional investors own 70.19% of the company’s stock.
Pepsico, Inc. (NYSE PEP) traded down 0.34% during midday trading on Wednesday, reaching $117.52. The company had a trading volume of 559,120 shares. The company has a market capitalization of $167.53 billion, a P/E ratio of 24.89 and a beta of 0.67. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. The company’s 50 day moving average is $116.24 and its 200-day moving average is $113.56.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.10. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. During the same quarter in the prior year, the firm earned $1.35 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Equities analysts expect that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The business also recently disclosed 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 2.73%. The ex-dividend date is Wednesday, August 30th. Pepsico’s dividend payout ratio is 68.22%.
Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Tuesday. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Cowen and Company reiterated an “outperform” rating and set a $128.00 target price on shares of Pepsico in a research report on Thursday, July 13th. Jefferies Group LLC reiterated a “buy” rating and set a $133.00 target price (up previously from $130.00) on shares of Pepsico in a research report on Wednesday, July 12th. Finally, Credit Suisse Group boosted their target price on Pepsico from $124.00 to $126.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 12th. Four research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $123.61.
In other news, SVP Marie T. Gallagher sold 41,489 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the completion of the sale, the senior vice president now owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Indra K. Nooyi sold 452,830 shares of the stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the sale, the chairman now directly owns 733,315 shares of the company’s stock, valued at approximately $85,387,198.60. The disclosure for this sale can be found here. Insiders have sold 898,164 shares of company stock valued at $104,585,929 in the last three months. 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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