United States Steel & Carnegie Pension Fund Has $62,601,000 Stake in Pepsico, Inc. (PEP)

United States Steel & Carnegie Pension Fund held its position in Pepsico, Inc. (NYSE:PEP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,633 shares of the company’s stock at the end of the first quarter. Pepsico accounts for about 1.9% of United States Steel & Carnegie Pension Fund’s investment portfolio, making the stock its 22nd largest position. United States Steel & Carnegie Pension Fund’s holdings in Pepsico were worth $62,601,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of PEP. State Street Corp increased its stake in Pepsico by 1.8% in the fourth quarter. State Street Corp now owns 63,651,479 shares of the company’s stock valued at $6,663,170,000 after buying an additional 1,115,697 shares during the period. Franklin Resources Inc. increased its stake in Pepsico by 2.2% in the fourth quarter. Franklin Resources Inc. now owns 15,671,152 shares of the company’s stock valued at $1,639,677,000 after buying an additional 340,666 shares during the period. Norges Bank purchased a new stake in Pepsico during the fourth quarter valued at about $1,492,411,000. Bank of Montreal Can increased its stake in Pepsico by 16.6% in the first quarter. Bank of Montreal Can now owns 5,812,519 shares of the company’s stock valued at $650,189,000 after buying an additional 827,376 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Pepsico by 3.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,519,928 shares of the company’s stock valued at $368,300,000 after buying an additional 123,376 shares during the period. 70.45% of the stock is currently owned by hedge funds and other institutional investors.

Pepsico, Inc. (NYSE:PEP) opened at 116.61 on Friday. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $118.24. The stock has a 50 day moving average price of $116.00 and a 200-day moving average price of $111.88. The company has a market cap of $166.23 billion, a price-to-earnings ratio of 24.70 and a beta of 0.67.

Pepsico (NYSE:PEP) last released its earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.35 earnings per share. On average, analysts predict that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.805 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.76%. Pepsico’s dividend payout ratio is currently 68.22%.

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PEP has been the subject of a number of recent analyst reports. UBS AG upgraded Pepsico from a “neutral” rating to a “positive” rating in a research report on Wednesday, April 12th. Susquehanna Bancshares Inc upgraded Pepsico from a “neutral” rating to a “positive” rating and upped their target price for the company from $118.00 to $132.00 in a research report on Wednesday, April 12th. Zacks Investment Research downgraded Pepsico from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Jefferies Group LLC upped their price objective on Pepsico from $120.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Finally, Royal Bank Of Canada set a $115.00 price objective on Pepsico and gave the stock a “hold” rating in a research report on Monday, April 24th. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $123.04.

In related news, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the sale, the executive vice president now owns 174,273 shares of the company’s stock, valued at approximately $20,283,634.47. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Indra K. Nooyi sold 340,449 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the completion of the transaction, the chief executive officer now owns 733,315 shares in the company, valued at $85,372,532.30. The disclosure for this sale can be found here. Insiders have sold 856,675 shares of company stock valued at $99,741,258 in the last three months. Corporate insiders own 0.26% of the company’s stock.

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).

Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

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