BSW Wealth Partners lowered its stake in shares of Pepsico, Inc. (NYSE:PEP) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,182 shares of the company’s stock after selling 17 shares during the period. BSW Wealth Partners’ holdings in Pepsico were worth $580,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Asset Planning Services Ltd. boosted its holdings in Pepsico by 66.1% during the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after buying an additional 399 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its holdings in Pepsico by 14.9% during the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after buying an additional 165 shares during the last quarter. Millie Capital Management LLC bought a new position in Pepsico during the first quarter worth about $202,000. Granite Investment Advisors LLC bought a new position in Pepsico during the first quarter worth about $204,000. Finally, Spectrum Management Group Inc. bought a new position in Pepsico during the first quarter worth about $205,000. Hedge funds and other institutional investors own 70.16% of the company’s stock.
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A number of brokerages have issued reports on PEP. Credit Suisse Group cut Pepsico from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $126.00 to $124.00 in a report on Friday, September 8th. Royal Bank Of Canada restated a “hold” rating and set a $115.00 target price on shares of Pepsico in a report on Wednesday, September 6th. BMO Capital Markets restated a “hold” rating and set a $120.00 target price on shares of Pepsico in a report on Wednesday, September 6th. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Tuesday, September 5th. Finally, BidaskClub cut Pepsico from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Six equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $123.32.
Shares of Pepsico, Inc. (NYSE:PEP) traded down 0.02% during midday trading on Wednesday, reaching $114.98. The company had a trading volume of 1,597,359 shares. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39. The stock’s 50 day moving average is $116.68 and its 200-day moving average is $114.52. The stock has a market capitalization of $163.91 billion, a PE ratio of 24.35 and a beta of 0.68.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.10. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 earnings per share. On average, equities research analysts predict that Pepsico, Inc. will post $5.15 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a $0.805 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a yield of 2.80%. Pepsico’s payout ratio is currently 68.22%.
In other Pepsico news, EVP Mehmood Khan sold 63,396 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $116.39, for a total value of $7,378,660.44. Following the transaction, the executive vice president now owns 174,273 shares in the company, valued at $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 stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $116.42, for a total value of $39,635,072.58. Following the completion of the sale, the chief executive officer now directly owns 733,315 shares of the company’s stock, valued at $85,372,532.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 898,164 shares of company stock worth $104,585,929. 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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