Grandfield & Dodd LLC Has $4,051,000 Holdings in Pepsico, Inc. (PEP)
Grandfield & Dodd LLC held its position in shares of Pepsico, Inc. (NYSE:PEP) during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 35,080 shares of the company’s stock at the end of the 2nd quarter. Grandfield & Dodd LLC’s holdings in Pepsico were worth $4,051,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of PEP. Sanders Capital LLC purchased a new position in shares of Pepsico in the 1st quarter worth $254,277,000. Harbour Capital Advisors LLC raised its position in shares of Pepsico by 11,316.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,183,685 shares of the company’s stock worth $18,908,000 after buying an additional 2,164,557 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Pepsico by 92.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock worth $371,065,000 after buying an additional 1,593,550 shares during the period. Karp Capital Management Corp purchased a new position in shares of Pepsico in the 1st quarter worth $112,080,000. Finally, Pioneer Investment Management Inc. raised its position in shares of Pepsico by 19.9% in the 1st quarter. Pioneer Investment Management Inc. now owns 4,414,828 shares of the company’s stock worth $493,842,000 after buying an additional 733,294 shares during the period. Institutional investors and hedge funds own 70.31% of the company’s stock.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Marie T. Gallagher sold 41,489 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. Insiders sold 919,613 shares of company stock valued at $106,956,258 over the last quarter. 0.26% of the stock is currently owned by corporate insiders.
Several brokerages recently weighed in on PEP. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Tuesday, August 22nd. Credit Suisse Group lowered Pepsico from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $126.00 to $124.00 in a research report on Friday, September 8th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 target price on shares of Pepsico in a research report on Wednesday, September 6th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $120.00 target price on shares of Pepsico in a research report on Wednesday, September 6th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $121.35.
Pepsico, Inc. (NYSE:PEP) opened at 111.61 on Friday. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. The firm has a 50-day moving average price of $112.79 and a 200 day moving average price of $114.72. The stock has a market capitalization of $158.73 billion, a price-to-earnings ratio of 23.06 and a beta of 0.68.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.05. The firm had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. Pepsico’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. On average, equities research analysts predict that Pepsico, Inc. will post $5.22 EPS 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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