Great Lakes Advisors LLC Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)
Great Lakes Advisors LLC lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 82.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,345 shares of the company’s stock after selling 273,298 shares during the quarter. Great Lakes Advisors LLC’s holdings in PepsiCo were worth $7,388,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in PEP. Personal Wealth Partners acquired a new stake in PepsiCo in the second quarter valued at $25,000. Evolution Wealth Advisors LLC acquired a new stake in PepsiCo in the second quarter valued at $27,000. Financial Advantage Inc. acquired a new stake in PepsiCo in the second quarter valued at $28,000. Mackey Komara & Dankovich LLC grew its holdings in PepsiCo by 199.0% in the second quarter. Mackey Komara & Dankovich LLC now owns 858 shares of the company’s stock valued at $38,000 after purchasing an additional 571 shares during the last quarter. Finally, 1 North Wealth Services LLC acquired a new stake in PepsiCo in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 71.83% of the company’s stock.
In related news, CEO Kirk Tanner sold 9,573 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the transaction, the chief executive officer now directly owns 105,350 shares in the company, valued at $13,500,602.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Steven C. Williams sold 2,420 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $133.95, for a total value of $324,159.00. Following the transaction, the chief executive officer now owns 54,920 shares in the company, valued at $7,356,534. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
Shares of PEP traded down $0.86 during trading hours on Thursday, reaching $131.48. 56,355 shares of the company traded hands, compared to its average volume of 4,560,547. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $185.36 billion, a PE ratio of 23.32, a price-to-earnings-growth ratio of 3.44 and a beta of 0.60. PepsiCo, Inc. has a fifty-two week low of $104.53 and a fifty-two week high of $135.24. The stock has a fifty day simple moving average of $130.86 and a 200 day simple moving average of $125.56.
PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.05. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. The firm had revenue of $16.45 billion for the quarter, compared to the consensus estimate of $16.44 billion. During the same period in the prior year, the business posted $1.61 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts predict that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $0.955 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 annualized dividend and a yield of 2.91%. PepsiCo’s dividend payout ratio (DPR) is presently 67.49%.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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