Carnegie Capital Asset Management LLC Sells 17,478 Shares of Pepsico, Inc. (PEP)
Carnegie Capital Asset Management LLC cut its holdings in Pepsico, Inc. (NYSE:PEP) by 27.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 46,248 shares of the company’s stock after selling 17,478 shares during the period. Carnegie Capital Asset Management LLC’s holdings in Pepsico were worth $5,358,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEP. Vanguard Group Inc. raised its position in shares of Pepsico by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 112,083,751 shares of the company’s stock valued at $12,944,553,000 after purchasing an additional 2,635,738 shares during the period. Sanders Capital LLC bought a new stake in shares of Pepsico during the 1st quarter valued at $254,277,000. Harbour Capital Advisors LLC grew its stake in Pepsico by 11,316.2% during the second quarter. Harbour Capital Advisors LLC now owns 2,183,685 shares of the company’s stock valued at $18,908,000 after acquiring an additional 2,164,557 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Pepsico by 92.5% during the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock valued at $371,065,000 after acquiring an additional 1,593,550 shares in the last quarter. Finally, Parametric Portfolio Associates LLC grew its stake in Pepsico by 49.9% during the second quarter. Parametric Portfolio Associates LLC now owns 4,155,387 shares of the company’s stock valued at $479,906,000 after acquiring an additional 1,383,267 shares in the last quarter. Institutional investors and hedge funds own 70.50% of the company’s stock.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.26% of the company’s stock.
PEP has been the subject of several research analyst reports. Cowen reaffirmed a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research note on Tuesday, August 22nd. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Susquehanna Bancshares reaffirmed a “buy” rating and set a $135.00 target price on shares of Pepsico in a research note on Monday, October 2nd. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $122.00 target price (down from $125.00) on shares of Pepsico in a research note on Friday, October 6th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $121.96.
Shares of Pepsico, Inc. (NYSE:PEP) traded down $0.16 during trading hours on Monday, hitting $116.57. 3,127,400 shares of the company’s stock were exchanged, compared to its average volume of 3,670,236. Pepsico, Inc. has a 1-year low of $101.06 and a 1-year high of $119.39. The stock has a market cap of $165,779.20, a PE ratio of 22.77, a P/E/G ratio of 3.17 and a beta of 0.68. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 2.32.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The business had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. During the same period last year, the company posted $1.40 EPS. The business’s revenue was up 1.3% on a year-over-year basis. equities research analysts forecast that Pepsico, Inc. will post 5.22 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be paid a $0.805 dividend. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.76%. Pepsico’s 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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