Halbert Hargrove Russell LLC Buys New Position in Pepsico, Inc. (PEP)
Halbert Hargrove Russell LLC bought a new position in shares of Pepsico, Inc. (NYSE:PEP) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,139 shares of the company’s stock, valued at approximately $239,000.
Other large investors also recently made changes to their positions in the company. Perigon Wealth Management LLC boosted its stake in Pepsico by 60.0% in the fourth quarter. Perigon Wealth Management LLC now owns 2,127 shares of the company’s stock valued at $235,000 after buying an additional 798 shares during the period. Hendley & Co. Inc. boosted its stake in Pepsico by 0.9% in the fourth quarter. Hendley & Co. Inc. now owns 22,561 shares of the company’s stock valued at $2,361,000 after buying an additional 200 shares during the period. Garde Capital Inc. boosted its stake in Pepsico by 72.7% in the fourth quarter. Garde Capital Inc. now owns 5,127 shares of the company’s stock valued at $536,000 after buying an additional 2,158 shares during the period. Teachers Advisors LLC boosted its stake in Pepsico by 3.4% in the fourth quarter. Teachers Advisors LLC now owns 2,866,110 shares of the company’s stock valued at $299,881,000 after buying an additional 94,391 shares during the period. Finally, Kentucky Retirement Systems acquired a new stake in Pepsico during the fourth quarter valued at about $10,889,000. Hedge funds and other institutional investors own 70.15% of the company’s stock.
Shares of Pepsico, Inc. (NYSE:PEP) traded down 0.07% during mid-day trading on Thursday, hitting $115.07. The stock had a trading volume of 1,136,522 shares. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39. The company has a market cap of $164.03 billion, a PE ratio of 24.37 and a beta of 0.67. The firm’s 50 day moving average price is $116.38 and its 200-day moving average price is $113.78. Pepsico also saw some unusual options trading activity on Wednesday. Investors bought 1,176 call options on the company. This is an increase of approximately 536% compared to the average daily volume of 185 call options.
Pepsico (NYSE:PEP) last announced its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating 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 company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. During the same quarter last year, the firm posted $1.35 EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Pepsico, Inc. will post $5.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, August 30th. Pepsico’s dividend payout ratio is presently 68.22%.
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Several brokerages recently weighed in on PEP. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research report on Tuesday, August 22nd. Stifel Nicolaus reaffirmed a “hold” rating on shares of Pepsico in a research report on Wednesday, May 31st. BMO Capital Markets lowered Pepsico from an “outperform” rating to a “market perform” rating and increased their target price for the stock from $118.00 to $120.00 in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 target price on shares of Pepsico in a research report on Thursday, May 25th. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $123.40.
In other Pepsico news, EVP Mehmood Khan sold 63,396 shares of Pepsico stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the sale, the executive vice president now owns 174,273 shares in the company, valued at approximately $20,283,634.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of Pepsico stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the completion of the sale, the senior vice president now owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 898,164 shares of company stock valued at $104,585,929. 0.26% of the stock is currently owned by corporate insiders.
Pepsico Company Profile
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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