Karp Capital Management Corp purchased a new position in Pepsico, Inc. (NYSE:PEP) during the first quarter, according to its most recent filing with the SEC. The fund purchased 1,001,965 shares of the company’s stock, valued at approximately $112,080,000. Pepsico accounts for about 0.8% of Karp Capital Management Corp’s investment portfolio, making the stock its 14th largest position. Karp Capital Management Corp owned approximately 0.07% of Pepsico at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PEP. 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 worth $434,310,000 after buying an additional 495,542 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 worth $4,185,000 after buying an additional 5,810 shares during the last quarter. Taylor Cottrill Erickson & Associates Inc. boosted its position in Pepsico by 3.6% in the first quarter. Taylor Cottrill Erickson & Associates Inc. now owns 5,222 shares of the company’s stock worth $584,000 after buying an additional 183 shares during the last quarter. Rosenbaum Jay D. boosted its position in Pepsico by 3.6% in the first quarter. Rosenbaum Jay D. now owns 12,735 shares of the company’s stock worth $1,425,000 after buying an additional 445 shares during the last quarter. Finally, Atalanta Sosnoff Capital LLC boosted its position in Pepsico by 24.1% in the first quarter. Atalanta Sosnoff Capital LLC now owns 300,415 shares of the company’s stock worth $33,605,000 after buying an additional 58,379 shares during the last quarter. 70.15% of the stock is owned by hedge funds and other institutional investors.

Shares of Pepsico, Inc. (PEP) traded up 0.02% during midday trading on Friday, hitting $115.75. 637,944 shares of the stock were exchanged. The stock’s 50 day moving average is $116.49 and its 200 day moving average is $114.06. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39. The firm has a market cap of $165.00 billion, a P/E ratio of 24.51 and a beta of 0.67. Pepsico also saw unusually large options trading activity on Wednesday. Traders purchased 1,176 call options on the stock. This represents an increase of 536% compared to the average volume of 185 call options.

Pepsico (NYSE:PEP) last posted its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.10. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the business posted $1.35 EPS. On average, equities research analysts forecast that Pepsico, Inc. will post $5.15 earnings per share for the current fiscal year.

The business also recently declared 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. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a yield of 2.78%. Pepsico’s dividend payout ratio is 68.22%.

COPYRIGHT VIOLATION NOTICE: “1,001,965 Shares in Pepsico, Inc. (PEP) Acquired by Karp Capital Management Corp” was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.thecerbatgem.com/2017/09/01/1001965-shares-in-pepsico-inc-pep-acquired-by-karp-capital-management-corp.html.

PEP has been the subject of a number of analyst reports. Jefferies Group LLC reissued a “buy” rating and issued a $127.00 price objective on shares of Pepsico in a research report on Friday, May 19th. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a research report on Friday, July 14th. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Stifel Nicolaus reissued a “hold” rating on shares of Pepsico in a research report on Wednesday, May 31st. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $115.00 price objective on shares of Pepsico in a research report on Thursday, May 25th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $123.40.

In other news, EVP Mehmood Khan sold 63,396 shares of Pepsico stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the sale, the executive vice president now directly owns 174,273 shares in the company, valued at approximately $20,283,634.47. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Indra K. Nooyi sold 340,449 shares of Pepsico stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the sale, the chief executive officer now owns 733,315 shares in the company, valued at $85,372,532.30. The disclosure for this sale can be found here. Insiders sold a total of 898,164 shares of company stock worth $104,585,929 over the last 90 days. Company insiders own 0.26% of the company’s stock.

About Pepsico

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).

Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

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