ARS Investment Partners LLC Has $4.81 Million Position in Pepsico, Inc. (PEP)
ARS Investment Partners LLC boosted its holdings in Pepsico, Inc. (NYSE:PEP) by 1.8% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 41,623 shares of the company’s stock after purchasing an additional 726 shares during the period. ARS Investment Partners LLC’s holdings in Pepsico were worth $4,807,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of PEP. Barnett & Company Inc. raised its stake in Pepsico by 270.4% during the second quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock valued at $104,000 after buying an additional 657 shares in the last quarter. Asset Planning Services Ltd. raised its stake in 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 buying an additional 3 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake in Pepsico by 14.9% during the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after buying an additional 165 shares in the last quarter. S. R. Schill & Associates acquired a new stake in Pepsico during the second quarter valued at approximately $203,000. Finally, Armbruster Capital Management Inc. raised its stake in Pepsico by 21.6% during the second quarter. Armbruster Capital Management Inc. now owns 1,782 shares of the company’s stock valued at $206,000 after buying an additional 317 shares in the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.
Shares of Pepsico, Inc. (NYSE:PEP) traded up $0.82 during trading on Friday, hitting $115.90. The stock had a trading volume of 1,183,004 shares, compared to its average volume of 3,111,672. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21. The firm has a market cap of $163,660.22, a PE ratio of 22.48, a price-to-earnings-growth ratio of 3.13 and a beta of 0.66. Pepsico, Inc. has a fifty-two week low of $98.50 and a fifty-two week high of $119.39.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. The business had revenue of $16.24 billion for the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 EPS. research analysts forecast that Pepsico, Inc. will post 5.22 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be given a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Thursday, November 30th. Pepsico’s payout ratio is 66.53%.
PEP has been the topic of several research reports. Cowen Inc restated a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Credit Suisse Group cut Pepsico from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $126.00 to $124.00 in a research note on Friday, September 8th. Zacks Investment Research cut Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. 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. Finally, BMO Capital Markets restated a “hold” rating and set a $120.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $121.35.
In other news, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total transaction of $2,370,328.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate 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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