Columbia Asset Management trimmed its holdings in Pepsico, Inc. (NYSE:PEP) by 0.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,844 shares of the company’s stock after selling 92 shares during the period. Columbia Asset Management’s holdings in Pepsico were worth $3,226,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Asset Planning Services Ltd. grew its stake in Pepsico by 66.1% in the 1st quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock valued at $112,000 after buying an additional 399 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its stake in Pepsico by 14.9% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after buying an additional 165 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. purchased a new position in Pepsico in the 1st quarter valued at approximately $157,000. Millie Capital Management LLC bought a new position in Pepsico in the 1st quarter valued at $202,000. Finally, Granite Investment Advisors LLC bought a new position in Pepsico in the 1st quarter valued at $204,000. Institutional investors and hedge funds own 70.16% of the company’s stock.
Shares of Pepsico, Inc. (NYSE PEP) traded up 0.60% during trading on Friday, hitting $114.87. 2,484,688 shares of the company traded hands. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $119.39. The company has a 50 day moving average price of $116.49 and a 200 day moving average price of $114.52. The company has a market capitalization of $163.75 billion, a price-to-earnings ratio of 24.33 and a beta of 0.68. Pepsico also was the recipient of some unusual options trading on Wednesday. Stock traders purchased 1,176 call options on the company. This is an increase of approximately 536% compared to the average volume of 185 call options.
Pepsico (NYSE:PEP) last released its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. During the same quarter last year, the firm posted $1.35 EPS. The company’s revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Pepsico, Inc. will post $5.16 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $0.805 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.82%. Pepsico’s dividend payout ratio is currently 68.22%.
Several research analysts have commented on the stock. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Tuesday, August 22nd. Stifel Nicolaus reaffirmed a “hold” rating on shares of Pepsico in a report on Wednesday, May 31st. BMO Capital Markets downgraded shares of Pepsico from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $118.00 to $120.00 in a report on Wednesday, June 7th. They noted that the move was a valuation call. Finally, Credit Suisse Group downgraded shares of Pepsico from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $126.00 to $124.00 in a report on Friday, September 8th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $123.44.
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In related news, CEO Indra K. Nooyi sold 340,449 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the completion of the transaction, the chief executive officer now owns 733,315 shares in the company, valued at approximately $85,372,532.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Marie T. Gallagher sold 41,489 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $116.77, for a total value of $4,844,670.53. Following the transaction, the senior vice president now owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. Insiders sold a total of 898,164 shares of company stock valued at $104,585,929 in the last quarter. Corporate insiders own 0.26% of the company’s stock.
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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