Pepsico, Inc. (PEP) Holdings Raised by E&G Advisors LP
E&G Advisors LP raised its position in Pepsico, Inc. (NYSE:PEP) by 28.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,557 shares of the company’s stock after acquiring an additional 1,655 shares during the period. E&G Advisors LP’s holdings in Pepsico were worth $873,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in PEP. National Pension Service boosted its stake in Pepsico by 2.0% in the first quarter. National Pension Service now owns 945,000 shares of the company’s stock valued at $106,010,000 after acquiring an additional 18,835 shares in the last quarter. Carroll Financial Associates Inc. raised its holdings in shares of Pepsico by 1.3% in the first quarter. Carroll Financial Associates Inc. now owns 22,612 shares of the company’s stock worth $2,529,000 after buying an additional 300 shares during the last quarter. Univest Corp of Pennsylvania raised its holdings in shares of 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 buying an additional 17 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Pepsico by 16.6% in the first quarter. Bank of Montreal Can now owns 5,812,519 shares of the company’s stock worth $650,189,000 after buying an additional 827,376 shares during the last quarter. Finally, Gradient Investments LLC raised its holdings in shares of Pepsico by 5.6% in the first quarter. Gradient Investments LLC now owns 2,206 shares of the company’s stock worth $247,000 after buying an additional 116 shares during the last quarter. Institutional investors own 70.06% of the company’s stock.
Shares of Pepsico, Inc. (PEP) traded down 0.36% during mid-day trading on Thursday, hitting $113.17. 1,190,746 shares of the stock traded hands. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39. The firm’s 50 day moving average price is $116.31 and its 200 day moving average price is $114.69. The firm has a market cap of $161.32 billion, a price-to-earnings ratio of 23.97 and a beta of 0.68.
Pepsico (NYSE:PEP) last posted its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.10. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.35 earnings per share. On average, equities research analysts predict that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.84%. The ex-dividend date is Wednesday, August 30th. Pepsico’s payout ratio is currently 68.22%.
In related news, Chairman Indra K. Nooyi sold 452,830 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total value of $52,727,525.20. Following the completion of the sale, the chairman now owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Indra K. Nooyi sold 340,449 shares of the company’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the completion of the sale, the chief executive officer now directly 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. Insiders sold 898,164 shares of company stock valued at $104,585,929 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.
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A number of research analysts have issued reports on PEP shares. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 price target on shares of Pepsico in a report on Thursday, May 25th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Pepsico in a report on Wednesday, May 31st. BMO Capital Markets cut shares of Pepsico from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $118.00 to $120.00 in a report on Wednesday, June 7th. They noted that the move was a valuation call. BidaskClub cut shares of Pepsico from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $133.00 price target (down previously from $134.00) on shares of Pepsico in a report on Thursday, July 6th. Six investment 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 company’s stock. Pepsico presently has a consensus rating of “Buy” and a consensus 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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