Frontier Wealth Management LLC Has $5.65 Million Position in Pepsico, Inc. (PEP)
Frontier Wealth Management LLC decreased its position in Pepsico, Inc. (NYSE:PEP) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 48,928 shares of the company’s stock after selling 522 shares during the quarter. Pepsico accounts for about 0.9% of Frontier Wealth Management LLC’s holdings, making the stock its 26th biggest holding. Frontier Wealth Management LLC’s holdings in Pepsico were worth $5,651,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of the stock. Risk Paradigm Group LLC raised its holdings in Pepsico by 178.0% during the second quarter. Risk Paradigm Group LLC now owns 2,024 shares of the company’s stock worth $234,000 after purchasing an additional 1,296 shares in the last quarter. Cutler Investment Counsel LLC raised its holdings in Pepsico by 1.3% during the second quarter. Cutler Investment Counsel LLC now owns 75,810 shares of the company’s stock worth $8,755,000 after purchasing an additional 941 shares in the last quarter. Doliver Capital Advisors LP acquired a new stake in Pepsico during the second quarter worth approximately $275,000. RKL Wealth Management LLC raised its holdings in Pepsico by 33.5% during the second quarter. RKL Wealth Management LLC now owns 8,261 shares of the company’s stock worth $954,000 after purchasing an additional 2,072 shares in the last quarter. Finally, Legg Mason Asset Management Japan Co. Ltd. raised its holdings in Pepsico by 118.5% during the second quarter. Legg Mason Asset Management Japan Co. Ltd. now owns 17,700 shares of the company’s stock worth $2,044,000 after purchasing an additional 9,600 shares in the last quarter. 70.50% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.
Pepsico (NYSE:PEP) last announced its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. The business had revenue of $16.24 billion for 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%. 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 posted $1.40 earnings per share. analysts expect that Pepsico, Inc. will post 5.22 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be given a dividend of $0.805 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.76%. Pepsico’s dividend payout ratio (DPR) is presently 66.53%.
A number of analysts have weighed in on the stock. BMO Capital Markets reissued a “hold” rating and set a $120.00 price objective on shares of Pepsico in a report on Wednesday, September 6th. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a report on Tuesday, October 3rd. Credit Suisse Group reissued a “hold” rating and set a $122.00 price objective (down previously from $124.00) on shares of Pepsico in a report on Thursday, October 5th. Royal Bank Of Canada reissued a “hold” rating on shares of Pepsico in a report on Sunday, November 12th. Finally, Macquarie assumed coverage on shares of Pepsico in a report on Thursday, September 14th. They set an “outperform” rating and a $125.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Pepsico has an average rating of “Buy” and an average price target of $121.96.
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).
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