Beaton Management Co. Inc. Purchases Shares of 27,630 Pepsico, Inc. (PEP)
Beaton Management Co. Inc. purchased a new position in Pepsico, Inc. (NYSE:PEP) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 27,630 shares of the company’s stock, valued at approximately $3,191,000. Pepsico comprises about 3.2% of Beaton Management Co. Inc.’s investment portfolio, making the stock its 4th biggest holding.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Grove Bank & Trust raised its position in shares of Pepsico by 41.6% in the 2nd quarter. Grove Bank & Trust now owns 11,371 shares of the company’s stock worth $1,313,000 after purchasing an additional 3,339 shares during the last quarter. Wedbush Securities Inc. raised its position in Pepsico by 20.4% in the 2nd quarter. Wedbush Securities Inc. now owns 17,247 shares of the company’s stock worth $1,992,000 after buying an additional 2,922 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in Pepsico by 3.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 78,716 shares of the company’s stock worth $9,091,000 after buying an additional 2,905 shares during the last quarter. Pioneer Investment Management Inc. raised its position in Pepsico by 2.1% in the 2nd quarter. Pioneer Investment Management Inc. now owns 4,506,679 shares of the company’s stock worth $520,476,000 after buying an additional 91,851 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its position in Pepsico by 4.0% in the 2nd quarter. Koshinski Asset Management Inc. now owns 6,907 shares of the company’s stock worth $798,000 after buying an additional 265 shares during the last quarter. 70.50% of the stock is owned by hedge funds and other institutional investors.
PEP has been the subject of a number of recent analyst reports. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Tuesday, August 22nd. BMO Capital Markets reissued a “hold” rating and issued a $120.00 target price on shares of Pepsico in a research report on Wednesday, September 6th. Royal Bank of Canada reissued a “hold” rating and issued a $115.00 target price on shares of Pepsico in a research report on Wednesday, September 6th. Finally, Credit Suisse Group lowered Pepsico from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $126.00 to $124.00 in a research report on Friday, September 8th. Eight equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $122.73.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the business’s 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 Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.
Pepsico, Inc. (NYSE:PEP) traded up $0.29 during trading on Thursday, hitting $118.09. The company’s stock had a trading volume of 1,066,968 shares, compared to its average volume of 3,658,890. The company has a market cap of $166,959.58, a P/E ratio of 22.93, a P/E/G ratio of 3.19 and a beta of 0.68. Pepsico, Inc. has a 1-year low of $101.06 and a 1-year high of $119.39. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 2.32.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.05. The business had revenue of $16.24 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 EPS. equities research analysts forecast that Pepsico, Inc. will post 5.22 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.805 per share. The ex-dividend date is Thursday, November 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.73%. Pepsico’s dividend payout ratio is currently 66.53%.
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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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