Woodmont Investment Counsel LLC Purchases 1,689 Shares of PepsiCo, Inc. (PEP)

Woodmont Investment Counsel LLC lifted its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,540 shares of the company’s stock after purchasing an additional 1,689 shares during the quarter. Woodmont Investment Counsel LLC’s holdings in PepsiCo were worth $3,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. WP Advisors LLC acquired a new position in PepsiCo during the second quarter worth $118,000. Well Done LLC acquired a new position in PepsiCo during the first quarter worth $125,000. Atlas Capital Advisors LLC raised its stake in PepsiCo by 85.7% during the second quarter. Atlas Capital Advisors LLC now owns 1,300 shares of the company’s stock worth $149,000 after acquiring an additional 600 shares in the last quarter. Independent Order of Foresters acquired a new position in PepsiCo during the second quarter worth $152,000. Finally, Clearwater Capital Advisors LLC acquired a new position in PepsiCo during the first quarter worth $154,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Several research analysts have issued reports on the company. Goldman Sachs Group reiterated a “sell” rating and set a $108.00 price objective on shares of PepsiCo in a research note on Monday, August 20th. Guggenheim started coverage on PepsiCo in a research note on Thursday, September 13th. They set a “neutral” rating and a $117.00 price objective for the company. BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. SunTrust Banks increased their target price on PepsiCo to $110.00 and gave the stock a “hold” rating in a report on Tuesday, July 24th. Finally, Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Tuesday, September 11th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $117.89.

In related news, CEO Mike Spanos sold 20,074 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $112.42, for a total value of $2,256,719.08. Following the transaction, the chief executive officer now owns 35,520 shares in the company, valued at $3,993,158.40. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Laxman Narasimhan sold 5,500 shares of the firm’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $106.79, for a total value of $587,345.00. Following the completion of the transaction, the chief executive officer now owns 130,135 shares in the company, valued at approximately $13,897,116.65. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,893 shares of company stock worth $22,663,157. 0.27% of the stock is owned by company insiders.

Shares of PEP stock opened at $111.17 on Friday. The company has a current ratio of 1.31, a quick ratio of 1.15 and a debt-to-equity ratio of 2.95. The firm has a market cap of $156.92 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. PepsiCo, Inc. has a 52 week low of $95.94 and a 52 week high of $122.51.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 2nd. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.57 by $0.02. The company had revenue of $16.49 billion for the quarter, compared to analysts’ expectations of $16.38 billion. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 earnings per share. As a group, equities analysts predict that PepsiCo, Inc. will post 5.65 EPS for the current year.

PepsiCo Company Profile

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.

Read More: Leveraged Buyout (LBO)

Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP).

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply