Toronto Dominion Bank Acquires 68,386 Shares of Pepsico, Inc. (PEP)
Toronto Dominion Bank lifted its holdings in Pepsico, Inc. (NYSE:PEP) by 14.2% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 548,651 shares of the company’s stock after purchasing an additional 68,386 shares during the period. Toronto Dominion Bank’s holdings in Pepsico were worth $63,363,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Barnett & Company Inc. raised its stake in Pepsico by 270.4% during the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after acquiring an additional 657 shares during the period. Aviance Capital Management LLC bought a new stake in Pepsico during the 2nd quarter worth approximately $111,000. Asset Planning Services Ltd. raised its stake in Pepsico by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock worth $116,000 after acquiring an additional 3 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in Pepsico by 5.9% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,211 shares of the company’s stock worth $138,000 after acquiring an additional 67 shares during the period. Finally, Riggs Asset Managment Co. Inc. raised its stake in Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after acquiring an additional 165 shares during the period. Hedge funds and other institutional investors own 70.50% of the company’s stock.
In related news, insider Ramon Laguarta sold 21,449 shares of the firm’s 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 Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.26% of the company’s stock.
Pepsico (NYSE:PEP) last announced its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The business had revenue of $16.24 billion during the quarter, compared to analyst estimates of $16.35 billion. During the same period last year, the firm posted $1.40 EPS. The company’s revenue was up 1.3% on a year-over-year basis. equities research analysts expect that Pepsico, Inc. will post 5.22 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Shareholders 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 yield of 2.73%. The ex-dividend date is Thursday, November 30th. Pepsico’s dividend payout ratio (DPR) is currently 66.53%.
A number of research firms have commented on PEP. Zacks Investment Research cut shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, September 4th. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. BMO Capital Markets restated a “hold” rating and set a $120.00 target price on shares of Pepsico in a research note on Wednesday, September 6th. Cowen restated a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Finally, Royal Bank of Canada reaffirmed a “hold” rating on shares of Pepsico in a report on Sunday, November 12th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $122.73.
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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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