Sabal Trust CO Acquires 1,283 Shares of Pepsico, Inc. (PEP)
Sabal Trust CO lifted its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 219,022 shares of the company’s stock after purchasing an additional 1,283 shares during the period. Pepsico comprises about 2.4% of Sabal Trust CO’s investment portfolio, making the stock its 25th biggest position. Sabal Trust CO’s holdings in Pepsico were worth $24,406,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. Grove Bank & Trust lifted its position in shares of Pepsico by 41.6% in the 2nd quarter. Grove Bank & Trust now owns 11,371 shares of the company’s stock worth $1,313,000 after purchasing an additional 3,339 shares during the period. Wedbush Securities Inc. lifted its position in shares of Pepsico by 20.4% in the 2nd quarter. Wedbush Securities Inc. now owns 17,247 shares of the company’s stock worth $1,992,000 after purchasing an additional 2,922 shares during the period. Stratos Wealth Partners LTD. lifted its position in shares of Pepsico by 3.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 78,716 shares of the company’s stock worth $9,091,000 after purchasing an additional 2,905 shares during the period. Pioneer Investment Management Inc. lifted its position in shares of Pepsico by 2.1% in the 2nd quarter. Pioneer Investment Management Inc. now owns 4,506,679 shares of the company’s stock worth $520,476,000 after purchasing an additional 91,851 shares during the period. Finally, Koshinski Asset Management Inc. lifted its position in shares of Pepsico by 4.0% in 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. 70.08% of the stock is currently owned by institutional investors.
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 filing with the SEC, which is available at 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 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. equities research analysts predict that Pepsico, Inc. will post 5.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Friday, December 1st will be given a $0.805 dividend. This represents a $3.22 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Thursday, November 30th. Pepsico’s payout ratio is currently 66.53%.
Several research firms have recently commented on PEP. Zacks Investment Research cut shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. BMO Capital Markets reaffirmed a “hold” rating and issued a $120.00 target price on shares of Pepsico in a research report on Wednesday, September 6th. Cowen reaffirmed a “buy” rating on shares of Pepsico in a research report on Sunday, September 17th. Royal Bank of Canada reissued a “hold” rating on shares of Pepsico in a research report on Sunday, November 12th. Finally, Macquarie started coverage on shares of Pepsico in a research report on Thursday, September 14th. They set an “outperform” rating and a $125.00 price target for the company. Eight equities research 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 an average rating of “Buy” and a consensus target price 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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