30,037 Shares in Pepsico, Inc. (PEP) Acquired by Griffin Asset Management Inc.
Griffin Asset Management Inc. bought a new stake in Pepsico, Inc. (NYSE:PEP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,037 shares of the company’s stock, valued at approximately $3,469,000.
A number of other institutional investors have also recently bought and sold shares of PEP. Asset Planning Services Ltd. boosted its stake in shares of Pepsico by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock valued at $116,000 after acquiring an additional 3 shares during the last quarter. Accurate Investment Solutions Inc. boosted its stake in shares of Pepsico by 0.3% during the second quarter. Accurate Investment Solutions Inc. now owns 1,851 shares of the company’s stock valued at $214,000 after acquiring an additional 5 shares during the last quarter. Northwest Wealth Management LLC boosted its stake in shares of Pepsico by 0.4% during the second quarter. Northwest Wealth Management LLC now owns 2,511 shares of the company’s stock valued at $290,000 after acquiring an additional 11 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Pepsico by 0.3% during the second quarter. Sunbelt Securities Inc. now owns 4,682 shares of the company’s stock valued at $541,000 after acquiring an additional 12 shares during the last quarter. Finally, Willingdon Wealth Management boosted its stake in shares of Pepsico by 0.3% during the first quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock valued at $714,000 after acquiring an additional 16 shares during the last quarter. 70.50% of the stock is currently owned by institutional investors.
In related news, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.
PEP has been the topic of a number of analyst reports. Cowen reaffirmed a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Credit Suisse Group lowered Pepsico from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $126.00 to $124.00 in a research note on Friday, September 8th. Zacks Investment Research lowered Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Royal Bank of Canada reaffirmed a “hold” rating on shares of Pepsico in a research note on Sunday, November 12th. Finally, Macquarie initiated coverage on Pepsico in a research note on Thursday, September 14th. They set an “outperform” rating and a $125.00 price objective on the stock. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $122.73.
Pepsico, Inc. (NYSE:PEP) traded up $1.20 during midday trading on Friday, reaching $119.22. The company had a trading volume of 7,173,530 shares, compared to its average volume of 3,326,269. Pepsico, Inc. has a 1 year low of $101.06 and a 1 year high of $119.39. The stock has a market capitalization of $167,841.31, a P/E ratio of 23.05, a PEG ratio of 3.32 and a beta of 0.68. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21.
Pepsico (NYSE:PEP) last released its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.05. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The firm 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 business posted $1.40 earnings per share. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. sell-side analysts predict that Pepsico, Inc. will post 5.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Friday, December 1st will be given a dividend of $0.805 per share. The ex-dividend date is Thursday, November 30th. This represents a $3.22 annualized dividend and a yield of 2.70%. Pepsico’s dividend payout ratio (DPR) is presently 66.53%.
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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