Tower Bridge Advisors Lowers Position in Pepsico, Inc. (PEP)
Tower Bridge Advisors trimmed its holdings in Pepsico, Inc. (NYSE:PEP) by 1.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 130,893 shares of the company’s stock after selling 2,396 shares during the period. Pepsico accounts for about 1.7% of Tower Bridge Advisors’ investment portfolio, making the stock its 13th largest position. Tower Bridge Advisors’ holdings in Pepsico were worth $15,117,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of PEP. Asset Planning Services Ltd. lifted its holdings in Pepsico by 66.1% in the 1st quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock valued at $112,000 after purchasing an additional 399 shares in the last quarter. Arbor Investment Advisors LLC lifted its holdings in Pepsico by 1.2% in the 1st quarter. Arbor Investment Advisors LLC now owns 4,169 shares of the company’s stock valued at $466,000 after purchasing an additional 49 shares in the last quarter. First United Bank Trust lifted its holdings in Pepsico by 1.5% in the 1st quarter. First United Bank Trust now owns 21,165 shares of the company’s stock valued at $2,367,000 after purchasing an additional 318 shares in the last quarter. Reilly Financial Advisors LLC lifted its holdings in Pepsico by 0.9% in the 1st quarter. Reilly Financial Advisors LLC now owns 104,717 shares of the company’s stock valued at $11,714,000 after purchasing an additional 973 shares in the last quarter. Finally, Farmers & Merchants Investments Inc. lifted its holdings in Pepsico by 1.2% in the 1st quarter. Farmers & Merchants Investments Inc. now owns 144,094 shares of the company’s stock valued at $16,118,000 after purchasing an additional 1,765 shares in the last quarter. 70.17% of the stock is currently owned by hedge funds and other institutional investors.
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In other news, SVP Marie T. Gallagher sold 41,489 shares of Pepsico stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the completion of the sale, the senior vice president now directly owns 76,037 shares in the company, valued at approximately $8,878,840.49. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Indra K. Nooyi sold 452,830 shares of Pepsico 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 sale, the chairman now owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The disclosure for this sale can be found here. Insiders have sold a total of 898,164 shares of company stock valued at $104,585,929 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.
PEP has been the topic of a number of recent research reports. Jefferies Group LLC restated a “buy” rating and issued a $133.00 target price (up from $130.00) on shares of Pepsico in a report on Wednesday, July 12th. BidaskClub lowered shares of Pepsico from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a report on Tuesday, August 22nd. Susquehanna Bancshares Inc restated a “buy” rating and issued a $135.00 target price on shares of Pepsico in a report on Monday, October 2nd. Finally, Credit Suisse Group restated a “hold” rating and issued a $122.00 target price (down from $124.00) on shares of Pepsico in a report on Thursday, October 5th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $121.80.
Pepsico, Inc. (NYSE:PEP) opened at 111.51 on Thursday. The stock’s 50 day moving average is $113.49 and its 200 day moving average is $114.72. The stock has a market capitalization of $158.58 billion, a price-to-earnings ratio of 23.04 and a beta of 0.68. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39.
Pepsico (NYSE:PEP) last announced its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.05. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The firm had revenue of $16.24 billion during the quarter, compared to analyst estimates of $16.35 billion. During the same period last year, the company posted $1.40 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts forecast that Pepsico, Inc. will post $5.23 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were given a dividend of $0.805 per share. 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 2.89%. Pepsico’s payout ratio is presently 66.53%.
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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