Sterling Investment Advisors Ltd. Boosts Stake in Pepsico, Inc. (PEP)
Sterling Investment Advisors Ltd. increased its position in Pepsico, Inc. (NYSE:PEP) by 0.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 15,560 shares of the company’s stock after purchasing an additional 50 shares during the period. Pepsico accounts for about 1.3% of Sterling Investment Advisors Ltd.’s holdings, making the stock its 23rd biggest holding. Sterling Investment Advisors Ltd.’s holdings in Pepsico were worth $1,741,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Leith Wheeler Investment Counsel Ltd. purchased a new stake in shares of Pepsico in the 1st quarter valued at about $157,000. National Pension Service lifted its holdings in shares of Pepsico by 2.0% in the 1st quarter. National Pension Service now owns 945,000 shares of the company’s stock valued at $106,010,000 after purchasing an additional 18,835 shares during the last quarter. Univest Corp of Pennsylvania lifted its holdings in shares of Pepsico by 0.7% in the 1st quarter. Univest Corp of Pennsylvania now owns 2,350 shares of the company’s stock valued at $263,000 after purchasing an additional 17 shares during the last quarter. Confluence Investment Management LLC lifted its holdings in shares of Pepsico by 6.6% in the 1st quarter. Confluence Investment Management LLC now owns 1,044,002 shares of the company’s stock valued at $116,782,000 after purchasing an additional 64,837 shares during the last quarter. Finally, Hays Advisory LLC lifted its holdings in shares of Pepsico by 11.6% in the 1st quarter. Hays Advisory LLC now owns 2,244 shares of the company’s stock valued at $251,000 after purchasing an additional 233 shares during the last quarter. 70.16% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on PEP shares. Jefferies Group LLC restated a “buy” rating and issued a $127.00 price target on shares of Pepsico in a research report on Friday, May 19th. Zacks Investment Research cut Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Credit Suisse Group cut Pepsico from an “outperform” rating to a “neutral” rating and dropped their price target 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 target 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 analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $123.32.
Shares of Pepsico, Inc. (PEP) traded up 0.57% during midday trading on Monday, hitting $115.69. The stock had a trading volume of 965,792 shares. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39. The firm has a 50 day moving average of $116.69 and a 200-day moving average of $114.44. The company has a market cap of $164.92 billion, a P/E ratio of 24.50 and a beta of 0.68.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. The firm 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 company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 earnings per share. On average, analysts forecast that Pepsico, Inc. will post $5.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $0.805 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.80%. Pepsico’s payout ratio is 68.22%.
In other news, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 76,037 shares in the company, valued at $8,878,840.49. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was 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 in the company, valued at $20,283,634.47. The disclosure for this sale can be found here. Insiders have sold 898,164 shares of company stock worth $104,585,929 over the last quarter. 0.26% of the stock is owned by company insiders.
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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