1,001,965 Shares in Pepsico, Inc. (PEP) Acquired by Karp Capital Management Corp
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%.
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.
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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