Good Life Advisors LLC lifted its stake in Pepsico, Inc. (NYSE:PEP) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,253 shares of the company’s stock after purchasing an additional 136 shares during the period. Good Life Advisors LLC’s holdings in Pepsico were worth $362,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Bank of Montreal Can boosted its position in shares of Pepsico by 16.6% during the first quarter. Bank of Montreal Can now owns 5,812,519 shares of the company’s stock valued at $650,189,000 after purchasing an additional 827,376 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Pepsico by 0.9% in the 1st quarter. Fisher Asset Management LLC now owns 5,497,671 shares of the company’s stock worth $614,970,000 after buying an additional 50,154 shares during the period. Pioneer Investment Management Inc. lifted its position in Pepsico by 19.9% during the 1st quarter. Pioneer Investment Management Inc. now owns 4,414,828 shares of the company’s stock valued at $493,842,000 after acquiring an additional 733,294 shares during the period. Russell Investments Group Ltd. boosted its stake in Pepsico by 14.6% during the first quarter. Russell Investments Group Ltd. now owns 3,881,793 shares of the company’s stock worth $434,310,000 after acquiring an additional 495,542 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in Pepsico by 92.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock worth $371,065,000 after purchasing an additional 1,593,550 shares during the period. 70.06% of the stock is owned by institutional investors.
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Shares of Pepsico, Inc. (PEP) opened at 111.85 on Friday. The company has a market cap of $159.44 billion, a PE ratio of 23.69 and a beta of 0.68. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. The stock’s 50 day moving average is $116.31 and its 200 day moving average is $114.69.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping 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 company had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. During the same period in the previous year, the firm posted $1.35 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts forecast that Pepsico, Inc. will post $5.16 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued 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 2.88%. Pepsico’s dividend payout ratio (DPR) is 68.22%.
PEP has been the subject of a number of recent research reports. Jefferies Group LLC reissued a “buy” rating and issued a $133.00 target price (up from $130.00) on shares of Pepsico in a report on Wednesday, July 12th. BidaskClub lowered shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a report on Tuesday, August 22nd. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 price objective on shares of Pepsico in a research report on Wednesday, September 6th. Finally, Credit Suisse Group cut Pepsico from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $126.00 to $124.00 in a research note on Friday, September 8th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $123.75.
In related news, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 76,037 shares in the company, valued at $8,878,840.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Indra K. Nooyi sold 452,830 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total value of $52,727,525.20. Following the completion of the transaction, the chairman now owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 898,164 shares of company stock valued at $104,585,929. Insiders own 0.26% of the company’s stock.
Pepsico Company Profile
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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