BTIM Corp. Has $63.07 Million Position in Pepsico, Inc. (PEP)
BTIM Corp. increased its stake in shares of Pepsico, Inc. (NYSE:PEP) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 546,127 shares of the company’s stock after buying an additional 1,186 shares during the period. Pepsico accounts for about 1.0% of BTIM Corp.’s investment portfolio, making the stock its 22nd largest position. BTIM Corp.’s holdings in Pepsico were worth $63,073,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in PEP. Sit Investment Associates Inc. increased its stake in Pepsico by 11.0% in the second quarter. Sit Investment Associates Inc. now owns 429,700 shares of the company’s stock valued at $49,626,000 after buying an additional 42,430 shares in the last quarter. Bedrijfstakpensioenfonds Voor DE Media PNO raised its position in shares of Pepsico by 258.1% in the second quarter. Bedrijfstakpensioenfonds Voor DE Media PNO now owns 38,679 shares of the company’s stock valued at $4,467,000 after buying an additional 27,879 shares during the last quarter. Patten & Patten Inc. TN raised its position in shares of Pepsico by 9.9% in the second quarter. Patten & Patten Inc. TN now owns 60,933 shares of the company’s stock valued at $7,037,000 after buying an additional 5,480 shares during the last quarter. Aperio Group LLC raised its position in shares of Pepsico by 6.5% in the second quarter. Aperio Group LLC now owns 1,067,521 shares of the company’s stock valued at $123,288,000 after buying an additional 65,556 shares during the last quarter. Finally, West Coast Financial LLC raised its position in shares of Pepsico by 2.8% in the second quarter. West Coast Financial LLC now owns 57,507 shares of the company’s stock valued at $6,641,000 after buying an additional 1,592 shares during the last quarter. Institutional investors and hedge funds own 70.19% of the company’s stock.
Pepsico, Inc. (PEP) traded up 1.077% during mid-day trading on Monday, hitting $117.765. The stock had a trading volume of 879,496 shares. The company has a market capitalization of $167.88 billion, a P/E ratio of 24.940 and a beta of 0.67. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $118.24. The stock’s 50-day moving average is $115.87 and its 200 day moving average is $112.81.
Pepsico (NYSE:PEP) last posted its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. During the same quarter last year, the company posted $1.35 earnings per share. Pepsico’s quarterly revenue was up 2.0% on a year-over-year basis. Equities analysts forecast that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Wednesday, August 30th. Pepsico’s payout ratio is currently 68.22%.
PEP has been the subject of several research reports. Zacks Investment Research lowered Pepsico from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. Jefferies Group LLC lifted their target price on Pepsico from $120.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Royal Bank Of Canada set a $115.00 target price on Pepsico and gave the stock a “hold” rating in a research report on Monday, April 24th. Vetr upgraded Pepsico from a “hold” rating to a “buy” rating and set a $125.54 price objective for the company in a research report on Wednesday, April 26th. Finally, BMO Capital Markets restated a “buy” rating and set a $115.00 price objective on shares of Pepsico in a research report on Thursday, April 27th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Pepsico presently has an average rating of “Buy” and a consensus price target of $123.40.
In other Pepsico news, Chairman Indra K. Nooyi sold 452,830 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the completion of the sale, the chairman now directly owns 733,315 shares in the company, valued at $85,387,198.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marie T. Gallagher sold 41,489 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the sale, the senior vice president now owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The disclosure for this sale can be found here. Insiders have sold 898,164 shares of company stock valued at $104,585,929 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.
Pepsico Company Profile
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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