Stack Financial Management Inc Lowers Stake in Pepsico, Inc. (PEP)
Stack Financial Management Inc cut its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 0.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 219,142 shares of the company’s stock after selling 1,661 shares during the period. Pepsico comprises about 2.6% of Stack Financial Management Inc’s investment portfolio, making the stock its 8th biggest holding. Stack Financial Management Inc’s holdings in Pepsico were worth $25,309,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in PEP. First Command Financial Services Inc. grew its stake in shares of Pepsico by 4.9% during the first quarter. First Command Financial Services Inc. now owns 6,423 shares of the company’s stock valued at $718,000 after acquiring an additional 299 shares in the last quarter. Baldwin Brothers Inc. MA grew its stake in shares of Pepsico by 6.8% during the first quarter. Baldwin Brothers Inc. MA now owns 117,221 shares of the company’s stock valued at $13,112,000 after acquiring an additional 7,489 shares in the last quarter. Cornerstone Financial Partners LLC grew its stake in shares of Pepsico by 34.9% during the first quarter. Cornerstone Financial Partners LLC now owns 2,650 shares of the company’s stock valued at $296,000 after acquiring an additional 686 shares in the last quarter. Tompkins Financial Corp grew its stake in shares of Pepsico by 6.4% during the first quarter. Tompkins Financial Corp now owns 35,953 shares of the company’s stock valued at $3,684,000 after acquiring an additional 2,164 shares in the last quarter. Finally, Harvest Capital Management Inc grew its stake in shares of Pepsico by 0.6% during the first quarter. Harvest Capital Management Inc now owns 10,911 shares of the company’s stock valued at $1,221,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 70.06% of the company’s stock.
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Shares of Pepsico, Inc. (NYSE:PEP) traded up 0.80% during trading on Thursday, reaching $110.22. 2,997,742 shares of the company’s stock were exchanged. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. The company has a 50 day moving average price of $114.58 and a 200-day moving average price of $114.76. The company has a market capitalization of $157.12 billion, a PE ratio of 23.34 and a beta of 0.68. Pepsico also saw unusually large options trading activity on Monday. Traders purchased 5,616 put options on the stock. This represents an increase of approximately 248% compared to the average volume of 1,616 put options.
Pepsico (NYSE:PEP) last posted its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.05. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The company had revenue of $16.24 billion for the quarter, compared to the consensus estimate of $16.35 billion. During the same quarter in the previous year, the firm posted $1.40 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. On average, equities analysts forecast that Pepsico, Inc. will post $5.16 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were issued a dividend of $0.805 per share. The ex-dividend date was Wednesday, August 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.94%. Pepsico’s payout ratio is 68.22%.
PEP has been the subject of several recent analyst reports. Jefferies Group LLC restated a “buy” rating and set a $133.00 target price (up from $130.00) on shares of Pepsico in a research note on Wednesday, July 12th. BidaskClub downgraded Pepsico from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research note on Tuesday, August 22nd. Susquehanna Bancshares Inc restated a “buy” rating and set a $135.00 target price on shares of Pepsico in a research note on Monday. Finally, Credit Suisse Group lowered their target price on Pepsico from $124.00 to $122.00 and set a “neutral” rating for the company in a research note on Thursday. Seven analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $121.69.
In related news, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $116.77, for a total value of $4,844,670.53. Following the sale, the senior vice president now owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $52,727,525.20. Following the completion of the sale, the chairman now directly owns 733,315 shares in the company, valued at approximately $85,387,198.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 898,164 shares of company stock worth $104,585,929. Insiders own 0.26% of the company’s stock.
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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