Northpointe Capital LLC Invests $2.31 Million in Pepsico, Inc. (PEP)
Northpointe Capital LLC bought a new position in shares of Pepsico, Inc. (NYSE:PEP) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 20,001 shares of the company’s stock, valued at approximately $2,310,000.
Several other hedge funds have also made changes to their positions in PEP. Sanders Capital LLC acquired a new position in shares of Pepsico during the 1st quarter worth approximately $254,277,000. Harbour Capital Advisors LLC raised its stake in shares of Pepsico by 11,316.2% during 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 stake in shares of Pepsico by 92.5% during 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 acquired a new position in shares of Pepsico during the 1st quarter worth approximately $112,080,000. Finally, Pioneer Investment Management Inc. raised its stake in shares of Pepsico by 19.9% during 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. 70.54% of the stock is owned by institutional investors and hedge funds.
Shares of Pepsico, Inc. (PEP) opened at $114.68 on Friday. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $119.39. The stock has a market capitalization of $163,870.00, a price-to-earnings ratio of 22.61, a price-to-earnings-growth ratio of 3.15 and a beta of 0.66. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 2.32.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. The business had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.40 EPS. sell-side analysts anticipate that Pepsico, Inc. will post 5.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be issued a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.81%. Pepsico’s dividend payout ratio is presently 66.53%.
PEP has been the subject of several research analyst reports. BidaskClub downgraded Pepsico from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research note on Tuesday, August 22nd. Susquehanna Bancshares Inc reaffirmed a “buy” rating and set a $135.00 target price on shares of Pepsico in a research note on Monday, October 2nd. Credit Suisse Group reaffirmed a “hold” rating and set a $122.00 target price (down from $124.00) on shares of Pepsico in a research note on Thursday, October 5th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $115.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. 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 a consensus target price of $121.35.
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In other news, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.
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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