Bingham Osborn & Scarborough LLC Maintains Position in Pepsico, Inc. (PEP)
Bingham Osborn & Scarborough LLC maintained its stake in shares of Pepsico, Inc. (NYSE:PEP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,540 shares of the company’s stock at the close of the second quarter. Bingham Osborn & Scarborough LLC’s holdings in Pepsico were worth $755,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in PEP. Adviser Investments LLC purchased a new position in shares of Pepsico in the 1st quarter valued at approximately $5,838,000. Baystate Wealth Management LLC boosted its stake in shares of Pepsico by 193.4% in the first quarter. Baystate Wealth Management LLC now owns 7,465 shares of the company’s stock valued at $848,000 after buying an additional 4,921 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management boosted its stake in shares of Pepsico by 56.8% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 30,140 shares of the company’s stock valued at $3,371,000 after buying an additional 10,913 shares in the last quarter. Clear Harbor Asset Management LLC boosted its stake in shares of Pepsico by 0.6% in the first quarter. Clear Harbor Asset Management LLC now owns 4,159 shares of the company’s stock valued at $465,000 after buying an additional 26 shares in the last quarter. Finally, Baker Ellis Asset Management LLC boosted its stake in shares of Pepsico by 1.4% in the first quarter. Baker Ellis Asset Management LLC now owns 54,530 shares of the company’s stock valued at $6,100,000 after buying an additional 742 shares in the last quarter. Institutional investors own 70.54% of the company’s stock.
PEP has been the topic of a number of analyst reports. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Tuesday, August 22nd. Credit Suisse Group downgraded Pepsico from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $126.00 to $124.00 in a research note on Friday, September 8th. Jefferies Group LLC downgraded Pepsico from a “buy” rating to a “hold” rating and decreased their price target for the company from $133.00 to $108.00 in a research note on Monday, October 2nd. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $115.00 price target 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 given a buy rating and one has given a strong buy rating to the company’s stock. Pepsico currently has a consensus rating of “Buy” and a consensus target price of $121.35.
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Pepsico, Inc. (NYSE:PEP) opened at $115.76 on Wednesday. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $119.39. The firm has a market capitalization of $162,181.19, a price-to-earnings ratio of 22.27, a PEG ratio of 3.10 and a beta of 0.66. 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 quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. equities research analysts anticipate that Pepsico, Inc. will post 5.22 EPS for the current year.
In other news, insider Ramon Laguarta sold 21,449 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company’s stock.
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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