Moody National Bank Trust Division Lowers Position in Pepsico, Inc. (PEP)
Moody National Bank Trust Division trimmed its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 0.1% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,541 shares of the company’s stock after selling 25 shares during the quarter. Pepsico accounts for 0.1% of Moody National Bank Trust Division’s holdings, making the stock its 18th biggest position. Moody National Bank Trust Division’s holdings in Pepsico were worth $2,950,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Riggs Asset Managment Co. Inc. increased its stake in Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after purchasing an additional 165 shares in the last quarter. Millie Capital Management LLC bought a new stake in Pepsico during the 1st quarter worth approximately $202,000. Granite Investment Advisors LLC bought a new stake in Pepsico during the 1st quarter worth approximately $204,000. Spectrum Management Group Inc. bought a new stake in Pepsico during the 1st quarter worth approximately $205,000. Finally, Windsor Financial Group LLC bought a new stake in Pepsico during the 1st quarter worth approximately $205,000. 70.31% of the stock is owned by institutional investors and hedge funds.
Shares of Pepsico, Inc. (PEP) opened at 112.67 on Friday. 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 $112.91 and a 200 day moving average price of $114.72. The firm has a market cap of $160.23 billion, a P/E ratio of 23.28 and a beta of 0.68.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $16.35 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. Pepsico’s revenue was up 1.3% compared to the same quarter last year. On average, equities analysts expect that Pepsico, Inc. will post $5.22 earnings per share for the current year.
In related news, Chairman Indra K. Nooyi sold 452,830 shares of the company’s 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 completion of the sale, the chairman now owns 733,315 shares in the company, valued at $85,387,198.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Indra K. Nooyi sold 340,449 shares of the company’s 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 of the company’s stock, valued at approximately $85,372,532.30. The disclosure for this sale can be found here. Insiders have sold 919,613 shares of company stock valued at $106,956,258 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.
A number of research firms have weighed in on PEP. Jefferies Group LLC reaffirmed a “buy” rating and set a $133.00 price target (up previously from $130.00) on shares of Pepsico in a research report on Wednesday, July 12th. BidaskClub downgraded Pepsico from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Tuesday, August 22nd. Susquehanna Bancshares Inc reaffirmed a “buy” rating and set a $135.00 price target on shares of Pepsico in a research report on Monday, October 2nd. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $122.00 price target (down previously from $124.00) on shares of Pepsico in a research report on Thursday, October 5th. Seven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $121.35.
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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