River Road Asset Management LLC decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 160,075 shares of the company’s stock after selling 21,603 shares during the quarter. River Road Asset Management LLC’s holdings in PepsiCo were worth $23,718,000 as of its most recent filing with the SEC.
Other large investors also recently bought and sold shares of the company. Paragon Wealth Strategies LLC bought a new position in shares of PepsiCo during the 2nd quarter worth about $30,000. Cowen Prime Advisors LLC bought a new stake in PepsiCo in the second quarter valued at about $34,000. Twin Lakes Capital Management LLC bought a new stake in PepsiCo in the second quarter valued at about $48,000. Baldrige Asset Management LLC bought a new stake in PepsiCo in the second quarter valued at about $55,000. Finally, Wagner Wealth Management LLC bought a new stake in PepsiCo in the first quarter valued at about $53,000. Institutional investors own 70.55% of the company’s stock.
In other PepsiCo news, SVP Marie T. Gallagher sold 7,409 shares of the company’s stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $155.70, for a total value of $1,153,581.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Monday, July 12th. The company reported $1.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.53 by $0.19. The business had revenue of $19.22 billion during the quarter, compared to the consensus estimate of $17.95 billion. PepsiCo had a net margin of 11.01% and a return on equity of 59.56%. PepsiCo’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 earnings per share. As a group, analysts expect that PepsiCo, Inc. will post 6.24 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Friday, September 3rd will be paid a $1.075 dividend. This represents a $4.30 annualized dividend and a yield of 2.77%. The ex-dividend date is Thursday, September 2nd. PepsiCo’s payout ratio is presently 77.90%.
PEP has been the topic of a number of analyst reports. Morgan Stanley upped their target price on shares of PepsiCo from $165.00 to $172.00 and gave the company an “overweight” rating in a research note on Wednesday, July 14th. Deutsche Bank Aktiengesellschaft upped their target price on shares of PepsiCo from $149.00 to $154.00 and gave the company a “hold” rating in a research note on Wednesday, July 14th. Cowen restated a “buy” rating and issued a $165.00 price target on shares of PepsiCo in a research report on Friday, July 9th. Credit Suisse Group lowered shares of PepsiCo from an “outperform” rating to a “neutral” rating and boosted their price target for the company from $155.00 to $157.00 in a research report on Wednesday, July 14th. Finally, Royal Bank of Canada boosted their price target on shares of PepsiCo from $153.00 to $155.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, PepsiCo has a consensus rating of “Hold” and a consensus target price of $159.58.
PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.
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