Curbstone Financial Management Corp Trims Position in Pepsico, Inc. (PEP)
Curbstone Financial Management Corp lessened its holdings in Pepsico, Inc. (NYSE:PEP) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,846 shares of the company’s stock after selling 175 shares during the period. Pepsico makes up about 1.0% of Curbstone Financial Management Corp’s investment portfolio, making the stock its 23rd largest position. Curbstone Financial Management Corp’s holdings in Pepsico were worth $1,599,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Univest Corp of Pennsylvania increased its position in Pepsico by 0.7% in the first quarter. Univest Corp of Pennsylvania now owns 2,350 shares of the company’s stock worth $263,000 after purchasing an additional 17 shares during the last quarter. National Pension Service increased its position in Pepsico by 2.0% in the first quarter. National Pension Service now owns 945,000 shares of the company’s stock worth $106,010,000 after purchasing an additional 18,835 shares during the last quarter. Hays Advisory LLC increased its position in Pepsico by 11.6% in the first quarter. Hays Advisory LLC now owns 2,244 shares of the company’s stock worth $251,000 after purchasing an additional 233 shares during the last quarter. Ledyard National Bank increased its position in Pepsico by 9.2% in the first quarter. Ledyard National Bank now owns 55,779 shares of the company’s stock worth $6,240,000 after purchasing an additional 4,720 shares during the last quarter. Finally, HPM Partners LLC bought a new stake in Pepsico in the first quarter worth $8,946,000. Institutional investors own 70.16% of the company’s stock.
Shares of Pepsico, Inc. (NYSE:PEP) traded up 0.58% during mid-day trading on Friday, hitting $114.85. 5,543,002 shares of the stock were exchanged. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $119.39. The company has a 50-day moving average price of $116.42 and a 200-day moving average price of $114.56. The stock has a market cap of $163.72 billion, a price-to-earnings ratio of 24.32 and a beta of 0.68.
Pepsico (NYSE:PEP) last issued its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. During the same period last year, the company earned $1.35 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts expect that Pepsico, Inc. will post $5.16 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a $0.805 dividend. 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 (DPR) is presently 68.22%.
In related news, Chairman Indra K. Nooyi sold 452,830 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the completion of the sale, the chairman now directly owns 733,315 shares of the company’s stock, valued at approximately $85,387,198.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $116.39, for a total value of $7,378,660.44. Following the sale, the executive vice president now directly 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 sold a total of 898,164 shares of company stock valued at $104,585,929 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.
Several brokerages recently weighed in on PEP. Cowen and Company restated a “buy” rating on shares of Pepsico in a research report on Sunday. BMO Capital Markets cut shares of Pepsico from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $118.00 to $120.00 in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Royal Bank Of Canada restated a “hold” rating and issued a $115.00 price target on shares of Pepsico in a research report on Thursday, May 25th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and issued a $133.00 price target (down previously from $134.00) on shares of Pepsico in a research report on Thursday, July 6th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Pepsico currently has a consensus rating of “Buy” and an average target price of $123.44.
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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