Insight Capital Research & Management Inc. Takes $1.79 Million Position in Pepsico, Inc. (PEP)
Insight Capital Research & Management Inc. bought a new stake in Pepsico, Inc. (NYSE:PEP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 15,525 shares of the company’s stock, valued at approximately $1,793,000.
Other institutional investors have also added to or reduced their stakes in the company. Asset Planning Services Ltd. grew its position in Pepsico by 66.1% in the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock valued at $112,000 after purchasing an additional 399 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its position in Pepsico by 14.9% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after purchasing an additional 165 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. bought a new position in Pepsico in the first quarter valued at $157,000. Millie Capital Management LLC bought a new position in Pepsico in the first quarter valued at $202,000. Finally, Proficio Capital Partners LLC grew its position in Pepsico by 114.2% in the first quarter. Proficio Capital Partners LLC now owns 1,810 shares of the company’s stock valued at $210,000 after purchasing an additional 965 shares in the last quarter. 70.16% of the stock is owned by institutional investors and hedge funds.
Shares of Pepsico, Inc. (NYSE PEP) traded down 1.67% during mid-day trading on Friday, hitting $115.04. 4,818,344 shares of the company traded hands. The firm has a 50-day moving average of $116.69 and a 200-day moving average of $114.37. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39. The stock has a market capitalization of $163.99 billion, a price-to-earnings ratio of 24.36 and a beta of 0.68.
Pepsico (NYSE:PEP) last posted its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.10. The company had revenue of $15.71 billion during 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 firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.35 earnings per share. On average, equities analysts predict that Pepsico, Inc. will post $5.15 earnings per share for the current 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 dividend of $0.805 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a yield of 2.80%. Pepsico’s payout ratio is currently 68.22%.
In related news, SVP Marie T. Gallagher sold 41,489 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 76,037 shares in the company, valued at $8,878,840.49. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Indra K. Nooyi sold 340,449 shares of the 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 transaction, the chief executive officer now owns 733,315 shares of the company’s stock, valued at approximately $85,372,532.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 898,164 shares of company stock valued at $104,585,929. 0.26% of the stock is owned by company insiders.
A number of research analysts recently weighed in on PEP shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $127.00 target price on shares of Pepsico in a research report on Friday, May 19th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 target price on shares of Pepsico in a research report on Thursday, May 25th. Stifel Nicolaus reissued a “hold” rating on shares of Pepsico in a research report on Wednesday, May 31st. BMO Capital Markets downgraded shares of Pepsico from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $118.00 to $120.00 in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Pepsico presently has a consensus rating of “Buy” and a consensus target price of $123.32.
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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