Pepsico, Inc. (PEP) Stake Increased by Abner Herrman & Brock LLC
Abner Herrman & Brock LLC grew its holdings in Pepsico, Inc. (NYSE:PEP) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 109,864 shares of the company’s stock after buying an additional 600 shares during the period. Pepsico accounts for about 2.4% of Abner Herrman & Brock LLC’s portfolio, making the stock its 11th biggest holding. Abner Herrman & Brock LLC’s holdings in Pepsico were worth $12,688,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Schwab Charles Investment Management Inc. lifted its holdings in Pepsico by 3.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 7,543,614 shares of the company’s stock worth $843,829,000 after purchasing an additional 280,480 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in Pepsico by 5.0% during the 2nd quarter. Fisher Asset Management LLC now owns 5,775,278 shares of the company’s stock worth $666,987,000 after purchasing an additional 277,607 shares during the last quarter. Pioneer Investment Management Inc. lifted its holdings in Pepsico by 19.9% during the 1st quarter. Pioneer Investment Management Inc. now owns 4,414,828 shares of the company’s stock worth $493,842,000 after purchasing an additional 733,294 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in Pepsico by 14.6% during the 1st quarter. Russell Investments Group Ltd. now owns 3,881,793 shares of the company’s stock worth $434,310,000 after purchasing an additional 495,542 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Pepsico by 92.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock worth $371,065,000 after purchasing an additional 1,593,550 shares during the last quarter. 70.17% of the stock is owned by institutional investors.
Pepsico, Inc. (NYSE PEP) traded up 0.7181% during midday trading on Wednesday, hitting $111.5755. The company had a trading volume of 1,430,504 shares. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $119.39. The firm has a market capitalization of $158.68 billion, a P/E ratio of 23.0528 and a beta of 0.68. The firm’s 50 day moving average is $113.68 and its 200-day moving average is $114.74.
Pepsico (NYSE:PEP) last released its earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.05. The business had revenue of $16.24 billion for the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 earnings per share. On average, equities research analysts expect that Pepsico, Inc. will post $5.22 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were paid a $0.805 dividend. The ex-dividend date of this dividend was Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a yield of 2.91%. Pepsico’s dividend payout ratio is presently 66.53%.
Several research firms recently weighed in on PEP. Zacks Investment Research cut Pepsico from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Susquehanna Bancshares Inc restated a “positive” rating and set a $133.00 price objective (down previously from $134.00) on shares of Pepsico in a research note on Thursday, July 6th. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. BMO Capital Markets restated a “hold” rating and set a $120.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. Finally, Cowen and Company restated a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Pepsico currently has an average rating of “Buy” and a consensus price target of $121.80.
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In other 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 transaction, the chairman now directly owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Marie T. Gallagher sold 41,489 shares of the firm’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 transaction, the senior vice president now directly owns 76,037 shares in the company, valued at $8,878,840.49. The disclosure for this sale can be found here. In the last three months, insiders sold 898,164 shares of company stock worth $104,585,929. 0.26% of the stock is owned by insiders.
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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