Zurich Insurance Group Ltd FI Purchases 24,388 Shares of PepsiCo, Inc. (NASDAQ:PEP)

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Zurich Insurance Group Ltd FI lifted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 275,660 shares of the company’s stock after purchasing an additional 24,388 shares during the period. Zurich Insurance Group Ltd FI’s holdings in PepsiCo were worth $36,147,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in PepsiCo by 0.7% in the second quarter. Vanguard Group Inc. now owns 114,097,547 shares of the company’s stock worth $14,961,613,000 after acquiring an additional 838,652 shares during the period. BlackRock Inc. increased its position in PepsiCo by 1.4% during the second quarter. BlackRock Inc. now owns 102,361,480 shares of the company’s stock worth $13,422,659,000 after buying an additional 1,413,723 shares during the last quarter. Northern Trust Corp increased its position in PepsiCo by 0.7% during the second quarter. Northern Trust Corp now owns 20,818,749 shares of the company’s stock worth $2,729,962,000 after buying an additional 143,784 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of PepsiCo by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 19,884,685 shares of the company’s stock valued at $2,607,480,000 after purchasing an additional 378,960 shares during the last quarter. Finally, Morgan Stanley grew its position in shares of PepsiCo by 1.1% in the second quarter. Morgan Stanley now owns 11,058,425 shares of the company’s stock valued at $1,450,090,000 after purchasing an additional 117,564 shares during the last quarter. 71.46% of the stock is currently owned by institutional investors.

PEP stock traded down $0.34 during trading on Friday, hitting $135.14. The company had a trading volume of 3,266,674 shares, compared to its average volume of 3,709,062. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 1.97. The firm has a 50-day moving average price of $132.74 and a 200-day moving average price of $128.46. PepsiCo, Inc. has a 12 month low of $104.53 and a 12 month high of $139.18. The stock has a market cap of $189.73 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 3.52 and a beta of 0.56.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.05. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The firm had revenue of $16.45 billion during the quarter, compared to analysts’ expectations of $16.44 billion. During the same quarter in the previous year, the company posted $1.61 EPS. PepsiCo’s revenue was up 2.2% on a year-over-year basis. Equities analysts expect that PepsiCo, Inc. will post 5.51 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Thursday, September 5th. PepsiCo’s dividend payout ratio is presently 67.49%.

In other PepsiCo news, CEO Steven C. Williams sold 2,420 shares of PepsiCo stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total transaction of $324,159.00. Following the completion of the sale, the chief executive officer now owns 54,920 shares of the company’s stock, valued at approximately $7,356,534. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kirk Tanner sold 9,573 shares of PepsiCo stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the sale, the chief executive officer now directly owns 105,350 shares of the company’s stock, valued at approximately $13,500,602.50. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by insiders.

A number of equities research analysts recently weighed in on PEP shares. Morgan Stanley lifted their target price on PepsiCo from $143.00 to $149.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 11th. They noted that the move was a valuation call. Cowen lifted their target price on PepsiCo from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. SunTrust Banks reissued a “hold” rating and set a $125.00 target price on shares of PepsiCo in a research report on Wednesday, July 10th. Atlantic Securities initiated coverage on shares of PepsiCo in a research note on Monday, July 29th. They set an “overweight” rating and a $145.00 price target for the company. Finally, Credit Suisse Group raised their price target on shares of PepsiCo from $110.00 to $117.00 and gave the stock an “underperform” rating in a research note on Friday, September 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the stock. PepsiCo presently has a consensus rating of “Buy” and an average target price of $131.21.

PepsiCo Profile

PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.

Further Reading: Outstanding Shares, Buying and Selling Stocks

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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