Gemmer Asset Management LLC Holds Holdings in Pepsico, Inc. (PEP)
Gemmer Asset Management LLC continued to hold its stake in Pepsico, Inc. (NYSE:PEP) during the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,538 shares of the company’s stock at the end of the 2nd quarter. Gemmer Asset Management LLC’s holdings in Pepsico were worth $178,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Asset Planning Services Ltd. boosted its holdings in shares of Pepsico by 66.1% during the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after acquiring an additional 399 shares during the period. Riggs Asset Managment Co. Inc. boosted its holdings in shares of Pepsico by 14.9% during the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after acquiring an additional 165 shares during the period. Millie Capital Management LLC bought a new stake in shares of Pepsico during the first quarter worth approximately $202,000. Proficio Capital Partners LLC boosted its holdings in shares of Pepsico by 114.2% during the first quarter. Proficio Capital Partners LLC now owns 1,810 shares of the company’s stock worth $210,000 after acquiring an additional 965 shares during the period. Finally, Granite Investment Advisors LLC bought a new stake in shares of Pepsico during the first quarter worth approximately $204,000. Institutional investors own 70.06% of the company’s stock.
Pepsico, Inc. (NYSE:PEP) traded down 0.05% during midday trading on Friday, reaching $110.40. The company’s stock had a trading volume of 3,240,259 shares. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $119.39. The stock has a 50-day moving average price of $114.11 and a 200 day moving average price of $114.73. The company has a market cap of $157.00 billion, a PE ratio of 22.81 and a beta of 0.68.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.05. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The firm had revenue of $16.24 billion during the quarter, compared to the consensus estimate of $16.35 billion. During the same period last year, the firm earned $1.40 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. Analysts expect that Pepsico, Inc. will post $5.22 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were issued a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.92%. The ex-dividend date was Wednesday, August 30th. Pepsico’s payout ratio is 66.53%.
In other Pepsico news, EVP Mehmood Khan sold 63,396 shares of the firm’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the transaction, the executive vice president now directly owns 174,273 shares of the company’s stock, valued at approximately $20,283,634.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Indra K. Nooyi sold 340,449 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $85,372,532.30. The disclosure for this sale can be found here. Over the last three months, insiders sold 898,164 shares of company stock valued at $104,585,929. Insiders own 0.26% of the company’s stock.
A number of brokerages have recently issued reports on PEP. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a report on Tuesday, August 22nd. Credit Suisse Group cut Pepsico from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $126.00 to $124.00 in a report on Friday, September 8th. Royal Bank Of Canada restated a “hold” rating and set a $115.00 price objective on shares of Pepsico in a report on Wednesday, September 6th. Finally, BMO Capital Markets restated a “hold” rating and set a $120.00 price objective on shares of Pepsico in a report on Wednesday, September 6th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Pepsico presently has an average rating of “Buy” and an average price target of $121.71.
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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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