Lourd Capital LLC Buys 301 Shares of Pepsico, Inc. (PEP)
Lourd Capital LLC boosted its stake in shares of Pepsico, Inc. (NYSE:PEP) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,479 shares of the company’s stock after purchasing an additional 301 shares during the quarter. Lourd Capital LLC’s holdings in Pepsico were worth $633,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Koshinski Asset Management Inc. increased its holdings in 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 purchasing an additional 265 shares during the period. State of Wisconsin Investment Board increased its holdings in 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 purchasing an additional 169,049 shares during the period. Westpac Banking Corp increased its holdings in 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 purchasing an additional 15,215 shares during the period. Wright Investors Service Inc. increased its holdings in 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 purchasing an additional 9,110 shares during the period. Finally, Gilbert & Cook Inc. increased its holdings in 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 purchasing an additional 2,115 shares during the period. Institutional investors own 70.31% of the company’s stock.
In related news, insider Ramon Laguarta sold 21,449 shares of Pepsico 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $4,844,670.53. Following the completion of the transaction, the senior vice president now owns 76,037 shares of the company’s stock, valued at $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. Insiders own 0.26% of the company’s stock.
Shares of Pepsico, Inc. (PEP) opened at 111.61 on Friday. The company has a 50 day moving average price of $112.79 and a 200-day moving average price of $114.72. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $119.39. The firm has a market capitalization of $158.73 billion, a PE ratio of 23.06 and a beta of 0.68.
Pepsico (NYSE:PEP) last posted its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.05. The business 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 company’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period last year, the firm earned $1.40 earnings per share. Equities research analysts expect that Pepsico, Inc. will post $5.22 EPS for the current fiscal year.
Several brokerages have weighed in on PEP. Zacks Investment Research downgraded Pepsico from a “buy” rating to a “hold” rating in a report on Monday, September 4th. Susquehanna Bancshares Inc restated a “positive” rating and set a $133.00 price target (down previously from $134.00) on shares of Pepsico in a report on Thursday, July 6th. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. BMO Capital Markets restated a “hold” rating and set a $120.00 price target on shares of Pepsico in a report on Wednesday, September 6th. Finally, Cowen and Company restated a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Seven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Pepsico presently has a consensus rating of “Buy” and an average target price of $121.35.
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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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