Physicians Financial Services Inc. Decreases Position in PepsiCo Inc. (PEP)
Physicians Financial Services Inc. reduced its position in shares of PepsiCo Inc. (NYSE:PEP) by 1.3% during the second quarter, Holdings Channel reports. The institutional investor owned 12,588 shares of the company’s stock after selling 166 shares during the period. PepsiCo makes up approximately 1.2% of Physicians Financial Services Inc.’s investment portfolio, making the stock its 24th largest position. Physicians Financial Services Inc.’s holdings in PepsiCo were worth $1,333,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of PEP. Gradient Investments LLC increased its position in PepsiCo by 7.0% in the second quarter. Gradient Investments LLC now owns 1,530 shares of the company’s stock worth $162,000 after buying an additional 100 shares in the last quarter. Tiemann Investment Advisors LLC purchased a new position in PepsiCo during the first quarter worth $200,000. Augustine Asset Management Inc. purchased a new position in PepsiCo during the second quarter worth $201,000. Cabot Wealth Management Inc. purchased a new position in PepsiCo during the second quarter worth $217,000. Finally, BTC Capital Management Inc. purchased a new position in PepsiCo during the first quarter worth $224,000. 70.08% of the stock is currently owned by institutional investors.
Shares of PepsiCo Inc. (NYSE:PEP) traded down 0.19% during trading on Friday, hitting $105.28. The stock had a trading volume of 4,934,066 shares. The firm’s 50-day moving average is $107.79 and its 200 day moving average is $104.53. PepsiCo Inc. has a 52-week low of $91.45 and a 52-week high of $110.94. The firm has a market cap of $151.51 billion, a price-to-earnings ratio of 29.75 and a beta of 0.48.
PepsiCo (NYSE:PEP) last released its quarterly earnings results on Thursday, July 7th. The company reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. The company earned $15.40 billion during the quarter. PepsiCo had a return on equity of 54.91% and a net margin of 8.34%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.32 EPS. On average, analysts expect that PepsiCo Inc. will post $4.76 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be issued a $0.7525 dividend. The ex-dividend date of this dividend is Wednesday, August 31st. This represents a $3.01 dividend on an annualized basis and a yield of 2.86%. PepsiCo’s payout ratio is 84.79%.
A number of research analysts have weighed in on the company. BMO Capital Markets reissued an “outperform” rating on shares of PepsiCo in a report on Friday, July 15th. Zacks Investment Research downgraded PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Vetr downgraded PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 price objective on the stock. in a research note on Wednesday, June 29th. Argus raised their price objective on PepsiCo from $116.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, July 13th. Finally, Susquehanna reaffirmed a “neutral” rating on shares of PepsiCo in a research note on Sunday, July 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $110.96.
In related news, SVP Marie T. Gallagher sold 13,586 shares of the company’s stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $109.01, for a total value of $1,481,009.86. Following the completion of the transaction, the senior vice president now owns 58,183 shares of the company’s stock, valued at approximately $6,342,528.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mehmood Khan sold 51,137 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $107.30, for a total value of $5,487,000.10. Following the completion of the transaction, the executive vice president now directly owns 164,464 shares of the company’s stock, valued at approximately $17,646,987.20. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.
PepsiCo Company Profile
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.
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