Los Angeles Capital Management & Equity Research Inc. cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 37.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,326 shares of the company’s stock after selling 163,695 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in PepsiCo were worth $29,648,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. HC Financial Advisors Inc. acquired a new position in shares of PepsiCo in the fourth quarter valued at about $1,040,000. Wafra Investment Advisory Group Inc. NY grew its stake in PepsiCo by 30.9% during the fourth quarter. Wafra Investment Advisory Group Inc. NY now owns 202,590 shares of the company’s stock worth $24,295,000 after buying an additional 47,837 shares in the last quarter. Advisor Group Inc. grew its stake in PepsiCo by 12.1% during the fourth quarter. Advisor Group Inc. now owns 170,736 shares of the company’s stock worth $20,484,000 after buying an additional 18,453 shares in the last quarter. Ironvine Capital Partners LLC acquired a new stake in PepsiCo during the fourth quarter worth about $1,954,000. Finally, Clearbridge Investments LLC grew its stake in PepsiCo by 4.6% during the fourth quarter. Clearbridge Investments LLC now owns 3,307,906 shares of the company’s stock worth $396,684,000 after buying an additional 145,002 shares in the last quarter. Institutional investors own 70.40% of the company’s stock.
A number of equities research analysts have issued reports on PEP shares. TheStreet upgraded shares of PepsiCo from a “c+” rating to a “b-” rating in a research note on Friday, July 6th. Cfra set a $129.00 price objective on shares of PepsiCo and gave the stock a “buy” rating in a research note on Tuesday, July 10th. BidaskClub upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Morgan Stanley increased their price objective on shares of PepsiCo from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, July 11th. Finally, JPMorgan Chase & Co. set a $128.00 price objective on shares of PepsiCo and gave the stock a “buy” rating in a research note on Wednesday, July 11th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. PepsiCo presently has an average rating of “Hold” and an average price target of $119.50.
PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, July 10th. The company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.53 by $0.08. The firm had revenue of $16.09 billion during the quarter, compared to analysts’ expectations of $16.05 billion. PepsiCo had a net margin of 7.14% and a return on equity of 67.06%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.50 earnings per share. analysts anticipate that PepsiCo, Inc. will post 5.69 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 7th will be issued a $0.9275 dividend. The ex-dividend date is Thursday, September 6th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 3.23%. PepsiCo’s dividend payout ratio (DPR) is currently 70.94%.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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