Old Mutual Global Investors UK Ltd. boosted its stake in shares of Pepsico, Inc. (NYSE:PEP) by 40.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,180 shares of the company’s stock after buying an additional 24,765 shares during the quarter. Old Mutual Global Investors UK Ltd.’s holdings in Pepsico were worth $9,952,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Asset Planning Services Ltd. increased its position in Pepsico by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock valued at $116,000 after purchasing an additional 3 shares during the period. Accurate Investment Solutions Inc. increased its position in Pepsico by 0.3% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,851 shares of the company’s stock valued at $214,000 after purchasing an additional 5 shares during the period. Northwest Wealth Management LLC increased its position in Pepsico by 0.4% during the 2nd quarter. Northwest Wealth Management LLC now owns 2,511 shares of the company’s stock valued at $290,000 after purchasing an additional 11 shares during the period. Willingdon Wealth Management increased its position in Pepsico by 0.3% during the 1st quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock valued at $714,000 after purchasing an additional 16 shares during the period. Finally, SRS Capital Advisors Inc. increased its position in Pepsico by 0.7% during the 1st quarter. SRS Capital Advisors Inc. now owns 2,710 shares of the company’s stock valued at $303,000 after purchasing an additional 20 shares during the period. Institutional investors own 70.50% of the company’s stock.
A number of research analysts have commented on PEP shares. Cowen reissued a “buy” rating on shares of Pepsico in a research report on Sunday, September 17th. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Tuesday, August 22nd. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Susquehanna Bancshares reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Pepsico in a research report on Monday, October 2nd. Finally, Deutsche Bank reaffirmed a “buy” rating and issued a $122.00 price objective (down previously from $125.00) on shares of Pepsico in a research report on Friday, October 6th. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $121.96.
Pepsico (NYSE:PEP) last issued its quarterly earnings data 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. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The firm had revenue of $16.24 billion for the quarter, compared to the consensus estimate of $16.35 billion. During the same quarter in the previous year, the firm earned $1.40 EPS. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. equities research analysts expect that Pepsico, Inc. will post 5.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Friday, December 1st will be paid a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Thursday, November 30th. Pepsico’s dividend payout ratio (DPR) is presently 66.53%.
In related news, insider Ramon Laguarta sold 21,449 shares of Pepsico 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by company insiders.
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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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