Glenview Trust Co Buys 22,999 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Glenview Trust Co raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 40.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 80,276 shares of the company’s stock after purchasing an additional 22,999 shares during the quarter. Glenview Trust Co’s holdings in PepsiCo were worth $11,895,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Ausdal Financial Partners Inc. increased its stake in PepsiCo by 0.8% in the second quarter. Ausdal Financial Partners Inc. now owns 7,951 shares of the company’s stock valued at $1,178,000 after acquiring an additional 64 shares during the period. Mosaic Family Wealth LLC boosted its position in PepsiCo by 0.8% in the second quarter. Mosaic Family Wealth LLC now owns 8,507 shares of the company’s stock valued at $1,260,000 after buying an additional 65 shares in the last quarter. Loudon Investment Management LLC boosted its position in PepsiCo by 0.7% in the second quarter. Loudon Investment Management LLC now owns 9,948 shares of the company’s stock valued at $1,474,000 after buying an additional 67 shares in the last quarter. Peninsula Asset Management Inc. boosted its position in PepsiCo by 0.3% in the second quarter. Peninsula Asset Management Inc. now owns 26,322 shares of the company’s stock valued at $3,900,000 after buying an additional 69 shares in the last quarter. Finally, Valley Brook Capital Group Inc. boosted its position in PepsiCo by 0.7% in the second quarter. Valley Brook Capital Group Inc. now owns 9,816 shares of the company’s stock valued at $1,454,000 after buying an additional 71 shares in the last quarter. Institutional investors own 70.55% of the company’s stock.

Shares of PEP stock traded down $1.13 during trading hours on Friday, hitting $154.43. 164,276 shares of the company were exchanged, compared to its average volume of 4,945,875. The business has a 50 day moving average of $155.75 and a two-hundred day moving average of $147.66. The company has a current ratio of 0.91, a quick ratio of 0.70 and a debt-to-equity ratio of 2.47. PepsiCo, Inc. has a 52 week low of $128.32 and a 52 week high of $159.63. The company has a market capitalization of $213.44 billion, a PE ratio of 26.03, a PEG ratio of 2.96 and a beta of 0.60.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Monday, July 12th. The company reported $1.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.53 by $0.19. PepsiCo had a net margin of 11.01% and a return on equity of 59.56%. The business had revenue of $19.22 billion during the quarter, compared to analysts’ expectations of $17.95 billion. During the same quarter in the prior year, the company posted $1.32 earnings per share. The firm’s revenue was up 20.5% on a year-over-year basis. On average, research analysts forecast that PepsiCo, Inc. will post 6.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Investors of record on Friday, September 3rd will be issued a dividend of $1.075 per share. This represents a $4.30 annualized dividend and a yield of 2.78%. The ex-dividend date is Thursday, September 2nd. PepsiCo’s payout ratio is 77.90%.

A number of research firms have commented on PEP. 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. Royal Bank of Canada upped their target price on shares of PepsiCo from $153.00 to $155.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 14th. Wells Fargo & Company upped their target price on shares of PepsiCo from $147.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 14th. Cowen reiterated a “buy” rating and set a $165.00 target price on shares of PepsiCo in a research report on Friday, July 9th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of PepsiCo from $149.00 to $154.00 and gave the stock a “hold” rating in a research note on Wednesday, July 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $159.58.

In other PepsiCo news, SVP Marie T. Gallagher sold 7,409 shares of the stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.14% of the company’s stock.

About PepsiCo

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.

Further Reading: Inflation

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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