Eliot Finkel Investment Counsel LLC lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,940 shares of the company’s stock after selling 140 shares during the period. Eliot Finkel Investment Counsel LLC’s holdings in PepsiCo were worth $1,566,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of PEP. Oregon Public Employees Retirement Fund increased its position in shares of PepsiCo by 10,622.9% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock worth $314,000 after acquiring an additional 34,380,553 shares in the last quarter. BlackRock Inc. lifted its stake in shares of PepsiCo by 2.4% in the 4th quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock worth $10,727,836,000 after purchasing an additional 2,275,511 shares during the period. Thoroughbred Financial Services LLC boosted its holdings in shares of PepsiCo by 13,410.8% in the second quarter. Thoroughbred Financial Services LLC now owns 1,806,262 shares of the company’s stock worth $180,626,000 after buying an additional 1,792,893 shares during the last quarter. Railway Pension Investments Ltd purchased a new position in shares of PepsiCo in the second quarter worth approximately $16,182,000. Finally, Swedbank purchased a new stake in shares of PepsiCo in the 2nd quarter worth $135,539,000. 71.51% of the stock is currently owned by institutional investors and hedge funds.
In other news, CEO Steven C. Williams sold 2,420 shares of the stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $133.95, for a total value of $324,159.00. Following the sale, the chief executive officer now directly owns 54,920 shares in the company, valued at $7,356,534. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kirk Tanner sold 9,573 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total value of $1,226,779.95. Following the transaction, the chief executive officer now directly owns 105,350 shares of the company’s stock, valued at $13,500,602.50. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
Several research firms have recently commented on PEP. Atlantic Securities initiated coverage on PepsiCo in a research report on Monday, July 29th. They set an “overweight” rating and a $145.00 price objective on the stock. Bank of America boosted their price target on shares of PepsiCo from $135.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. SunTrust Banks reissued a “hold” rating and issued a $125.00 price objective on shares of PepsiCo in a research note on Wednesday, July 10th. Wells Fargo & Co upped their price objective on PepsiCo from $120.00 to $127.00 and gave the company a “positive” rating in a research report on Tuesday, May 14th. Finally, BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have given a buy rating to the stock. PepsiCo currently has an average rating of “Buy” and a consensus target price of $130.20.
NASDAQ:PEP traded down $0.54 during midday trading on Tuesday, hitting $135.86. The company’s stock had a trading volume of 3,101,189 shares, compared to its average volume of 4,688,507. The firm has a market cap of $192.07 billion, a P/E ratio of 24.00, a P/E/G ratio of 3.57 and a beta of 0.56. The firm’s 50 day moving average is $131.82 and its 200-day moving average is $127.58. PepsiCo, Inc. has a fifty-two week low of $104.53 and a fifty-two week high of $139.18. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.86 and a quick ratio of 0.66.
PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, July 9th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.05. The business had revenue of $16.45 billion during the quarter, compared to analysts’ expectations of $16.44 billion. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.61 earnings per share. As a group, analysts forecast that PepsiCo, Inc. will post 5.51 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Thursday, September 5th. PepsiCo’s dividend payout ratio is presently 67.49%.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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