Empirical Financial Services LLC Continues to Hold Holdings in Pepsico, Inc. (PEP)
Empirical Financial Services LLC maintained its stake in Pepsico, Inc. (NYSE:PEP) during the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,489 shares of the company’s stock at the end of the second quarter. Empirical Financial Services LLC’s holdings in Pepsico were worth $287,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Barnett & Company Inc. increased its holdings in Pepsico by 270.4% during the second quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock valued at $104,000 after buying an additional 657 shares during the last quarter. Asset Planning Services Ltd. increased its holdings in Pepsico by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock valued at $116,000 after buying an additional 3 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its holdings in Pepsico by 5.9% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,211 shares of the company’s stock valued at $138,000 after buying an additional 67 shares during the last quarter. Riggs Asset Managment Co. Inc. increased its holdings in Pepsico by 14.9% during the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after buying an additional 165 shares during the last quarter. Finally, Millie Capital Management LLC purchased a new stake in shares of Pepsico in the first quarter worth $202,000. 70.50% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on PEP. Zacks Investment Research cut shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets reissued a “hold” rating and issued a $120.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. Credit Suisse Group reissued a “hold” rating and issued a $122.00 price objective (down from $124.00) on shares of Pepsico in a research note on Thursday, October 5th. Royal Bank Of Canada reissued a “hold” rating on shares of Pepsico in a research note on Sunday, November 12th. Finally, Macquarie began coverage on shares of Pepsico in a research note on Thursday, September 14th. They issued an “outperform” rating and a $125.00 price objective for the company. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $121.96.
In related news, insider Ramon Laguarta sold 21,449 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.
Pepsico, Inc. (PEP) traded up $1.31 on Thursday, reaching $118.90. 3,203,500 shares of the company traded hands, compared to its average volume of 3,665,145. The stock has a market capitalization of $167,229.78, a PE ratio of 22.97, a price-to-earnings-growth ratio of 3.20 and a beta of 0.68. Pepsico, Inc. has a 52 week low of $101.06 and a 52 week high of $119.39. 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 posted its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.05. The company had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. Pepsico’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period last year, the company posted $1.40 earnings per share. analysts anticipate that Pepsico, Inc. will post 5.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Friday, December 1st will be paid a dividend of $0.805 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.22 annualized dividend and a yield of 2.71%. Pepsico’s payout ratio is 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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