Chicago Equity Partners LLC Decreases Stake in Pepsico, Inc. (PEP)
Chicago Equity Partners LLC reduced its stake in Pepsico, Inc. (NYSE:PEP) by 17.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 255,010 shares of the company’s stock after selling 55,085 shares during the period. Pepsico makes up approximately 0.8% of Chicago Equity Partners LLC’s holdings, making the stock its 20th largest position. Chicago Equity Partners LLC’s holdings in Pepsico were worth $28,525,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can raised its position 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 raised its position 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. Russell Investments Group Ltd. raised its position in shares of 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 in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Pepsico by 92.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock valued at $371,065,000 after buying an additional 1,593,550 shares in the last quarter. Finally, Teachers Advisors LLC raised its position in shares of Pepsico by 3.4% in the fourth quarter. Teachers Advisors LLC now owns 2,866,110 shares of the company’s stock valued at $299,881,000 after buying an additional 94,391 shares in the last quarter. 70.15% of the stock is owned by hedge funds and other institutional investors.
Pepsico, Inc. (PEP) traded up 0.35% during mid-day trading on Tuesday, hitting $115.95. The company’s stock had a trading volume of 344,553 shares. The firm’s 50-day moving average is $116.38 and its 200-day moving average is $113.78. The company has a market cap of $165.29 billion, a P/E ratio of 24.56 and a beta of 0.67. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. During the same period in the previous year, the company earned $1.35 earnings per share. Pepsico’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts predict that Pepsico, Inc. will post $5.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a $0.805 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a yield of 2.79%. Pepsico’s dividend payout ratio (DPR) is presently 68.22%.
PEP has been the subject of several research reports. Jefferies Group LLC reissued a “buy” rating and issued a $133.00 target price (up previously from $130.00) on shares of Pepsico in a research report on Wednesday, July 12th. BidaskClub lowered Pepsico from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Vetr raised Pepsico from a “buy” rating to a “strong-buy” rating and set a $125.54 target price for the company in a research report on Wednesday, May 3rd. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Tuesday, August 22nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $115.00 price objective on shares of Pepsico in a research report on Thursday, May 25th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $123.61.
In related news, SVP Marie T. Gallagher sold 41,489 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.77, for a total value of $4,844,670.53. Following the completion of the sale, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Indra K. Nooyi sold 452,830 shares of the business’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the completion of the sale, the chairman now directly owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 898,164 shares of company stock valued at $104,585,929. 0.26% of the stock is owned by corporate 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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