Pepsico, Inc. (PEP) Shares Bought by Loeb Partners Corp
Loeb Partners Corp grew its stake in Pepsico, Inc. (NYSE:PEP) by 7.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,500 shares of the company’s stock after acquiring an additional 2,970 shares during the period. Pepsico accounts for about 1.5% of Loeb Partners Corp’s investment portfolio, making the stock its 22nd biggest position. Loeb Partners Corp’s holdings in Pepsico were worth $5,255,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in PEP. Koshinski Asset Management Inc. grew its position in shares of Pepsico by 4.0% during the 2nd quarter. Koshinski Asset Management Inc. now owns 6,907 shares of the company’s stock worth $798,000 after buying an additional 265 shares during the period. State of Wisconsin Investment Board grew its position in shares of Pepsico by 13.3% during the 1st quarter. State of Wisconsin Investment Board now owns 1,440,520 shares of the company’s stock worth $161,137,000 after buying an additional 169,049 shares during the period. Westpac Banking Corp grew its position in shares of Pepsico by 7.8% during the 1st quarter. Westpac Banking Corp now owns 209,821 shares of the company’s stock worth $22,373,000 after buying an additional 15,215 shares during the period. Wright Investors Service Inc. grew its position in shares of Pepsico by 69.2% during the 2nd quarter. Wright Investors Service Inc. now owns 22,280 shares of the company’s stock worth $2,573,000 after buying an additional 9,110 shares during the period. Finally, Gilbert & Cook Inc. grew its position in shares of Pepsico by 80.4% during the 2nd quarter. Gilbert & Cook Inc. now owns 4,744 shares of the company’s stock worth $548,000 after buying an additional 2,115 shares during the period. 70.31% of the stock is owned by institutional investors.
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PEP has been the subject of a number of analyst reports. Zacks Investment Research cut shares of Pepsico from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Cowen and Company restated an “outperform” rating and set a $128.00 price objective on shares of Pepsico in a report on Thursday, July 13th. 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. Credit Suisse Group restated a “hold” rating and set a $122.00 price objective (down previously from $124.00) on shares of Pepsico in a report on Thursday, October 5th. Finally, Jefferies Group LLC restated a “buy” rating and set a $133.00 price objective (up previously from $130.00) on shares of Pepsico in a report on Wednesday, July 12th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $121.35.
In other news, Chairman Indra K. Nooyi sold 452,830 shares of Pepsico stock in a transaction on 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 sale, the chairman now directly owns 733,315 shares in the company, valued at approximately $85,387,198.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Indra K. Nooyi sold 340,449 shares of Pepsico stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.42, for a total value of $39,635,072.58. Following the sale, the chief executive officer now owns 733,315 shares in the company, valued at $85,372,532.30. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 919,613 shares of company stock worth $106,956,258. Company insiders own 0.26% of the company’s stock.
Shares of Pepsico, Inc. (NYSE PEP) opened at 112.19 on Wednesday. The firm’s 50-day moving average is $113.18 and its 200 day moving average is $114.74. The company has a market capitalization of $159.55 billion, a price-to-earnings ratio of 23.18 and a beta of 0.68. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, beating the 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 business had revenue of $16.24 billion for the quarter, compared to analysts’ expectations of $16.35 billion. During the same period last year, the business earned $1.40 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, equities research analysts anticipate that Pepsico, Inc. will post $5.22 earnings per share for the current year.
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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