Insight Capital Research & Management Inc. acquired a new position in shares of Pepsico, Inc. (NYSE:PEP) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,525 shares of the company’s stock, valued at approximately $1,793,000.
Other large investors have also recently made changes to their positions in the company. Leith Wheeler Investment Counsel Ltd. purchased a new stake in shares of Pepsico during the first quarter worth $157,000. Wright Investors Service Inc. raised its holdings in shares of Pepsico by 69.2% during the second quarter. Wright Investors Service Inc. now owns 22,280 shares of the company’s stock worth $2,573,000 after acquiring an additional 9,110 shares in the last quarter. National Pension Service raised its holdings in shares of Pepsico by 2.0% during the first quarter. National Pension Service now owns 945,000 shares of the company’s stock worth $106,010,000 after acquiring an additional 18,835 shares in the last quarter. Univest Corp of Pennsylvania raised its holdings in shares of Pepsico by 0.7% during the first quarter. Univest Corp of Pennsylvania now owns 2,350 shares of the company’s stock worth $263,000 after acquiring an additional 17 shares in the last quarter. Finally, Confluence Investment Management LLC raised its holdings in shares of Pepsico by 6.6% during the first quarter. Confluence Investment Management LLC now owns 1,044,002 shares of the company’s stock worth $116,782,000 after acquiring an additional 64,837 shares in the last quarter. Institutional investors and hedge funds own 70.16% of the company’s stock.
Pepsico, Inc. (PEP) traded up 0.58% during midday trading on Friday, reaching $114.85. The company had a trading volume of 5,543,002 shares. The stock’s 50 day moving average price is $116.42 and its 200-day moving average price is $114.56. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39. The firm has a market capitalization of $163.72 billion, a P/E ratio of 24.32 and a beta of 0.68.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. During the same quarter in the prior year, the business earned $1.35 EPS. Pepsico’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Pepsico, Inc. will post $5.16 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be paid a $0.805 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a yield of 2.80%. Pepsico’s dividend payout ratio (DPR) is currently 68.22%.
PEP has been the subject of several recent research reports. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a report on Tuesday, August 22nd. Credit Suisse Group lowered Pepsico from an “outperform” rating to a “neutral” rating and cut their target price for the company from $126.00 to $124.00 in a report on Friday, September 8th. Jefferies Group LLC restated a “buy” rating and set a $130.00 target price (up from $127.00) on shares of Pepsico in a report on Thursday, July 6th. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $115.00 target price on shares of Pepsico in a report on Wednesday, September 6th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $123.44.
In related news, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.39, for a total value of $7,378,660.44. Following the transaction, the executive vice president now owns 174,273 shares in the company, valued at approximately $20,283,634.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the completion of the transaction, the senior vice president now owns 76,037 shares in the company, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 898,164 shares of company stock worth $104,585,929. 0.26% of the stock is owned by company insiders.
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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