Pepsico, Inc. (PEP) Shares Sold by Conning Inc.
Conning Inc. cut its stake in Pepsico, Inc. (NYSE:PEP) by 2.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 310,861 shares of the company’s stock after selling 6,342 shares during the period. Pepsico comprises about 1.3% of Conning Inc.’s investment portfolio, making the stock its 18th largest position. Conning Inc.’s holdings in Pepsico were worth $35,901,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. QV Investors Inc. grew its holdings in Pepsico by 1.4% during the 2nd quarter. QV Investors Inc. now owns 37,940 shares of the company’s stock worth $4,381,000 after acquiring an additional 520 shares in the last quarter. S. R. Schill & Associates bought a new position in Pepsico during the 2nd quarter worth about $203,000. Pinnacle Financial Partners Inc. grew its holdings in Pepsico by 44.6% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 71,526 shares of the company’s stock worth $8,261,000 after acquiring an additional 22,070 shares in the last quarter. Accredited Investors Inc. grew its holdings in Pepsico by 1.1% during the 2nd quarter. Accredited Investors Inc. now owns 6,124 shares of the company’s stock worth $707,000 after acquiring an additional 67 shares in the last quarter. Finally, Tortoise Investment Management LLC grew its holdings in Pepsico by 13.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 4,493 shares of the company’s stock worth $519,000 after acquiring an additional 545 shares in the last quarter. Hedge funds and other institutional investors own 70.54% of the company’s stock.
In related news, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction that occurred on Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.
Pepsico, Inc. (NYSE PEP) opened at $115.23 on Friday. The company has a market cap of $163,688.66, a P/E ratio of 22.48, a P/E/G ratio of 3.13 and a beta of 0.66. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21. Pepsico, Inc. has a 1 year low of $98.50 and a 1 year high of $119.39.
Pepsico (NYSE:PEP) last announced its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.05. The firm had revenue of $16.24 billion during the quarter, compared to analyst estimates of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. Pepsico’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm posted $1.40 EPS. research analysts anticipate that Pepsico, Inc. will post 5.22 earnings per share for the current fiscal year.
Several research analysts have issued reports on the stock. Royal Bank Of Canada reiterated a “hold” rating on shares of Pepsico in a report on Sunday, November 12th. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $123.00 target price on the stock in a report on Tuesday, October 31st. Stifel Nicolaus reiterated a “hold” rating and set a $116.00 target price on shares of Pepsico in a report on Friday, October 13th. Deutsche Bank AG reiterated a “buy” rating and set a $122.00 target price (down from $125.00) on shares of Pepsico in a report on Friday, October 6th. Finally, Credit Suisse Group reiterated a “hold” rating and set a $122.00 target price (down from $124.00) on shares of Pepsico in a report on Thursday, October 5th. Seven 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’s stock. The stock has an average rating of “Buy” and a consensus target price of $121.35.
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).
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pepsico, Inc. (NYSE:PEP).
Receive News & Stock Ratings for Pepsico Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pepsico Inc. and related stocks with our FREE daily email newsletter.