Cambridge Trust Co. Reduces Stake in Pepsico, Inc. (PEP)
Cambridge Trust Co. decreased its position in Pepsico, Inc. (NYSE:PEP) by 3.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 71,510 shares of the company’s stock after selling 2,934 shares during the period. Cambridge Trust Co.’s holdings in Pepsico were worth $7,999,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of PEP. Gierl Augustine Investment Management Inc boosted its stake in Pepsico by 0.8% in the first quarter. Gierl Augustine Investment Management Inc now owns 1,846 shares of the company’s stock worth $207,000 after buying an additional 14 shares in the last quarter. Willingdon Wealth Management boosted its stake in Pepsico by 0.3% in the first quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock worth $714,000 after buying an additional 16 shares in the last quarter. Univest Corp of Pennsylvania boosted its stake in Pepsico by 0.7% in the first quarter. Univest Corp of Pennsylvania now owns 2,350 shares of the company’s stock worth $263,000 after buying an additional 17 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Pepsico by 0.7% in the first quarter. SRS Capital Advisors Inc. now owns 2,710 shares of the company’s stock worth $303,000 after buying an additional 20 shares in the last quarter. Finally, Alexandria Capital LLC boosted its stake in Pepsico by 0.5% in the first quarter. Alexandria Capital LLC now owns 4,160 shares of the company’s stock worth $465,000 after buying an additional 21 shares in the last quarter. Institutional investors own 70.19% of the company’s stock.
Pepsico, Inc. (PEP) traded up 0.361% during trading on Tuesday, reaching $118.265. 476,063 shares of the company’s stock traded hands. The company’s 50 day moving average is $115.89 and its 200-day moving average is $113.03. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $118.33. The stock has a market cap of $168.59 billion, a price-to-earnings ratio of 25.046 and a beta of 0.67.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The firm had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $15.57 billion. During the same period in the prior year, the firm posted $1.35 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts anticipate that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Wednesday, August 30th. Pepsico’s payout ratio is 68.22%.
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A number of analysts have recently issued reports on the stock. Jefferies Group LLC raised their target price on shares of Pepsico from $120.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. BMO Capital Markets cut shares of Pepsico from an “outperform” rating to a “market perform” rating and raised their target price for the stock from $118.00 to $120.00 in a research note on Wednesday, June 7th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Royal Bank Of Canada restated a “hold” rating and set a $115.00 target price on shares of Pepsico in a research note on Thursday, May 25th. Finally, Susquehanna Bancshares Inc restated a “positive” rating and set a $133.00 target price (down previously from $134.00) on shares of Pepsico in a research note on Thursday, July 6th. Six investment analysts have rated the stock with a hold rating, thirteen have issued 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 price target of $123.40.
In related 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 value of $52,727,525.20. Following the sale, the chairman now directly owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the sale, the executive vice president now directly owns 174,273 shares in the company, valued at $20,283,634.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 898,164 shares of company stock worth $104,585,929. 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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