Gamco Investors INC. ET AL raised its stake in Pepsico, Inc. (NYSE:PEP) by 1.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 273,895 shares of the company’s stock after buying an additional 3,203 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Pepsico were worth $31,632,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in PEP. New Jersey Better Educational Savings Trust bought a new stake in shares of Pepsico in the first quarter worth $783,000. First Western Capital Management Co lifted its position in shares of Pepsico by 7.9% in the first quarter. First Western Capital Management Co now owns 39,724 shares of the company’s stock worth $4,443,000 after purchasing an additional 2,901 shares in the last quarter. Supplemental Annuity Collective Trust of NJ lifted its position in shares of Pepsico by 23.7% in the first quarter. Supplemental Annuity Collective Trust of NJ now owns 24,000 shares of the company’s stock worth $2,685,000 after purchasing an additional 4,603 shares in the last quarter. Paragon Capital Management Ltd bought a new stake in shares of Pepsico in the first quarter worth $889,000. Finally, Parsec Financial Management Inc. lifted its position in shares of Pepsico by 2.7% in the first quarter. Parsec Financial Management Inc. now owns 183,302 shares of the company’s stock worth $20,504,000 after purchasing an additional 4,823 shares in the last quarter. 70.50% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Ramon Laguarta sold 21,449 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.
Pepsico, Inc. (NYSE PEP) traded up $1.31 during trading hours on Wednesday, hitting $118.90. 3,203,461 shares of the company’s stock traded hands, compared to its average volume of 3,665,145. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.21 and a current ratio of 1.35. Pepsico, Inc. has a 12-month low of $101.06 and a 12-month high of $119.39. The firm has a market capitalization of $167,044.91, a P/E ratio of 22.94, a P/E/G ratio of 3.19 and a beta of 0.68.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.05. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The business had revenue of $16.24 billion for the quarter, compared to the consensus estimate of $16.35 billion. During the same period in the prior year, the company posted $1.40 earnings per share. Pepsico’s revenue was up 1.3% compared to the same quarter last year. equities research analysts expect that Pepsico, Inc. will post 5.22 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Friday, December 1st will be paid a $0.805 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.71%. Pepsico’s dividend payout ratio (DPR) is presently 66.53%.
A number of analysts have recently commented on the stock. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $131.00 price objective on the stock in a research report on Monday. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Susquehanna Bancshares restated a “buy” rating and set a $135.00 target price on shares of Pepsico in a report on Monday, October 2nd. Jefferies Group downgraded shares of Pepsico from a “buy” rating to a “hold” rating and lowered their target price for the stock from $133.00 to $108.00 in a report on Monday, October 2nd. Finally, Credit Suisse Group restated a “hold” rating and set a $122.00 target price (down from $124.00) on shares of Pepsico in a report on Thursday, October 5th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Pepsico currently has a consensus rating of “Buy” and a consensus target price of $121.96.
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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