Cigna Investments Inc. New Has $6.80 Million Holdings in Pepsico, Inc. (PEP)
Cigna Investments Inc. New decreased its position in shares of Pepsico, Inc. (NYSE:PEP) by 27.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 58,903 shares of the company’s stock after selling 22,116 shares during the quarter. Pepsico comprises approximately 0.5% of Cigna Investments Inc. New’s investment portfolio, making the stock its 29th largest position. Cigna Investments Inc. New’s holdings in Pepsico were worth $6,803,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Grove Bank & Trust grew its position in shares of Pepsico by 41.6% during the 2nd quarter. Grove Bank & Trust now owns 11,371 shares of the company’s stock worth $1,313,000 after buying an additional 3,339 shares during the period. Koshinski Asset Management Inc. grew its position in shares of Pepsico by 4.0% during 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 period. Stratos Wealth Partners LTD. grew its position in shares of Pepsico by 3.8% during 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 period. State of Wisconsin Investment Board grew its position in shares of Pepsico by 13.3% during the 1st quarter. State of Wisconsin Investment Board now owns 1,440,520 shares of the company’s stock worth $161,137,000 after buying an additional 169,049 shares during the period. Finally, Crestwood Advisors Group LLC grew its position in shares of Pepsico by 0.3% during the 2nd quarter. Crestwood Advisors Group LLC now owns 168,529 shares of the company’s stock worth $19,653,000 after buying an additional 491 shares during the period. Hedge funds and other institutional investors own 70.65% of the company’s stock.
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PEP has been the subject of several recent analyst reports. Cowen and Company reaffirmed a “buy” rating on shares of Pepsico in a research report on Sunday, September 17th. Credit Suisse Group downgraded shares of Pepsico from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $126.00 to $124.00 in a research report on Friday, September 8th. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Macquarie started coverage on shares of Pepsico in a research report on Thursday, September 14th. They issued an “outperform” rating and a $125.00 price target for the company. Finally, BMO Capital Markets reissued a “hold” rating and issued a $120.00 price target on shares of Pepsico in a research report on Wednesday, September 6th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $121.35.
In other news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction on 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 legal filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by insiders.
Pepsico, Inc. (NYSE PEP) opened at $109.26 on Tuesday. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.21 and a current ratio of 1.35. The stock has a market cap of $155,770.00, a price-to-earnings ratio of 21.53, a price-to-earnings-growth ratio of 3.00 and a beta of 0.66. Pepsico, Inc. has a fifty-two week low of $98.50 and a fifty-two week high of $119.39.
Pepsico (NYSE:PEP) last posted its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.05. The firm had revenue of $16.24 billion for the quarter, compared to the consensus estimate of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 EPS. sell-side analysts anticipate that Pepsico, Inc. will post 5.22 earnings per share for the current fiscal year.
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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