Flossbach Von Storch AG Has $2.51 Million Position in Pepsico, Inc. (PEP)
Flossbach Von Storch AG lowered its position in shares of Pepsico, Inc. (NYSE:PEP) by 3.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,700 shares of the company’s stock after selling 870 shares during the quarter. Flossbach Von Storch AG’s holdings in Pepsico were worth $2,506,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DnB Asset Management AS increased its stake in Pepsico by 20.2% during the 1st quarter. DnB Asset Management AS now owns 204,312 shares of the company’s stock worth $22,854,000 after buying an additional 34,400 shares during the period. Bank of The West grew its holdings in Pepsico by 4.3% during the 1st quarter. Bank of The West now owns 46,202 shares of the company’s stock worth $5,168,000 after acquiring an additional 1,902 shares in the last quarter. Benin Management CORP grew its holdings in Pepsico by 3.0% during the 1st quarter. Benin Management CORP now owns 113,982 shares of the company’s stock worth $12,750,000 after acquiring an additional 3,372 shares in the last quarter. Patten & Patten Inc. TN grew its holdings in Pepsico by 0.3% during the 1st quarter. Patten & Patten Inc. TN now owns 55,453 shares of the company’s stock worth $6,203,000 after acquiring an additional 162 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Pepsico by 3.0% during the 1st quarter. Nisa Investment Advisors LLC now owns 489,956 shares of the company’s stock worth $54,806,000 after acquiring an additional 14,045 shares in the last quarter. Hedge funds and other institutional investors own 70.31% of the company’s stock.
In other Pepsico news, EVP Mehmood Khan sold 63,396 shares of the business’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the transaction, the executive vice president now owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ramon Laguarta sold 21,449 shares of the business’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total value of $2,370,328.99. The disclosure for this sale can be found here. In the last three months, insiders have sold 919,613 shares of company stock valued at $106,956,258. Insiders own 0.26% of the company’s stock.
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Several brokerages have weighed in on PEP. Stifel Nicolaus reissued a “hold” rating and set a $116.00 price objective on shares of Pepsico in a report on Friday. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a research note on Tuesday, October 10th. Deutsche Bank AG reissued a “buy” rating and set a $122.00 target price (down from $125.00) on shares of Pepsico in a research note on Friday, October 6th. Credit Suisse Group reissued a “hold” rating and set a $122.00 target price (down from $124.00) on shares of Pepsico in a research note on Thursday, October 5th. Finally, Susquehanna Bancshares Inc reissued a “buy” rating and set a $135.00 target price on shares of Pepsico in a research note on Monday, October 2nd. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $121.35.
Shares of Pepsico, Inc. (NYSE PEP) opened at 113.57 on Tuesday. The company has a market cap of $161.51 billion, a price-to-earnings ratio of 23.47 and a beta of 0.68. The firm’s 50-day moving average is $113.18 and its 200-day moving average is $114.74. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39.
Pepsico (NYSE:PEP) last issued its earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.05. The firm had revenue of $16.24 billion during the quarter, compared to the consensus estimate of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.40 earnings per share. Analysts expect that Pepsico, Inc. will post $5.23 EPS for the current fiscal year.
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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