Shelton Capital Management Acquires 15,586 Shares of Pepsico, Inc. (PEP)
Shelton Capital Management raised its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 51.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 46,056 shares of the company’s stock after acquiring an additional 15,586 shares during the period. Shelton Capital Management’s holdings in Pepsico were worth $5,152,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Asset Planning Services Ltd. raised its position in shares of Pepsico by 66.1% during the 1st quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock valued at $112,000 after acquiring an additional 399 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after acquiring an additional 165 shares during the last quarter. Leith Wheeler Investment Counsel Ltd. bought a new stake in shares of Pepsico during the 1st quarter valued at $157,000. Millie Capital Management LLC bought a new stake in shares of Pepsico during the 1st quarter valued at $202,000. Finally, Granite Investment Advisors LLC bought a new stake in shares of Pepsico during the 1st quarter valued at $204,000. Institutional investors own 70.16% of the company’s stock.
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Shares of Pepsico, Inc. (PEP) traded down 1.67% during trading on Friday, reaching $115.04. 4,818,344 shares of the company were exchanged. The stock’s 50-day moving average is $116.69 and its 200-day moving average is $114.37. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. The firm has a market cap 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 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 firm had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. During the same period in the previous year, the firm posted $1.35 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Equities research analysts predict that Pepsico, Inc. will post $5.15 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date is Wednesday, August 30th. Pepsico’s dividend payout ratio is currently 68.22%.
Several analysts have commented on PEP shares. Jefferies Group LLC reiterated a “buy” rating and set a $127.00 target price on shares of Pepsico in a research report on Friday, May 19th. Zacks Investment Research cut shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Credit Suisse Group cut shares of Pepsico from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $126.00 to $124.00 in a research report on Friday. Cowen and Company restated an “outperform” rating and issued a $128.00 price objective on shares of Pepsico in a research report on Thursday, July 13th. Finally, J P Morgan Chase & Co restated an “overweight” rating on shares of Pepsico in a research report on Wednesday, July 12th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $123.32.
In other news, 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 completion of the transaction, the chief executive officer now directly owns 733,315 shares in the company, valued at $85,372,532.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction, the executive vice president now owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The disclosure for this sale can be found here. Insiders have sold 898,164 shares of company stock valued at $104,585,929 over the last quarter. Corporate 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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