Iowa State Bank Sells 2,052 Shares of Pepsico, Inc. (PEP)
Iowa State Bank lessened its stake in shares of Pepsico, Inc. (NYSE:PEP) by 4.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 45,839 shares of the company’s stock after selling 2,052 shares during the period. Pepsico accounts for about 2.5% of Iowa State Bank’s investment portfolio, making the stock its 8th biggest holding. Iowa State Bank’s holdings in Pepsico were worth $5,294,000 as of its most recent filing with the SEC.
A number of other large investors also recently added to or reduced their stakes in the business. Howe & Rusling Inc. grew its holdings in Pepsico by 3.1% during the second quarter. Howe & Rusling Inc. now owns 83,923 shares of the company’s stock valued at $9,692,000 after purchasing an additional 2,547 shares during the period. Chevy Chase Trust Holdings Inc. grew its holdings in Pepsico by 0.6% during the second quarter. Chevy Chase Trust Holdings Inc. now owns 1,597,900 shares of the company’s stock valued at $184,542,000 after purchasing an additional 10,205 shares during the period. Somerset Trust Co grew its holdings in Pepsico by 2.8% during the second quarter. Somerset Trust Co now owns 12,790 shares of the company’s stock valued at $1,477,000 after purchasing an additional 352 shares during the period. National Pension Service grew its holdings in Pepsico by 9.8% during the second quarter. National Pension Service now owns 1,037,487 shares of the company’s stock valued at $119,498,000 after purchasing an additional 92,487 shares during the period. Finally, State of Alaska Department of Revenue grew its holdings in Pepsico by 2.2% during the second quarter. State of Alaska Department of Revenue now owns 154,719 shares of the company’s stock valued at $17,867,000 after purchasing an additional 3,335 shares during the period. 70.06% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman Indra K. Nooyi sold 452,830 shares of Pepsico stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total value of $52,727,525.20. Following the sale, the chairman now directly owns 733,315 shares in the company, valued at approximately $85,387,198.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Indra K. Nooyi sold 340,449 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the completion of the transaction, the chief executive officer now directly owns 733,315 shares in the company, valued at $85,372,532.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 898,164 shares of company stock worth $104,585,929. 0.26% of the stock is currently owned by insiders.
Pepsico, Inc. (PEP) traded down 0.05% during trading on Friday, hitting $110.40. The stock had a trading volume of 3,240,259 shares. The company has a market cap of $157.00 billion, a price-to-earnings ratio of 22.81 and a beta of 0.68. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. The firm’s 50-day moving average price is $114.11 and its 200-day moving average price is $114.73.
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 Thomson Reuters’ consensus estimate of $1.43 by $0.05. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The company had revenue of $16.24 billion for the quarter, compared to analysts’ expectations of $16.35 billion. During the same period in the previous year, the firm posted $1.40 EPS. Pepsico’s revenue was up 1.3% compared to the same quarter last year. Analysts predict that Pepsico, Inc. will post $5.19 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were issued a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.92%. The ex-dividend date was Wednesday, August 30th. Pepsico’s payout ratio is 66.53%.
Several analysts have issued reports on the company. Deutsche Bank AG reissued a “buy” rating and set a $122.00 price target (down previously from $125.00) on shares of Pepsico in a report on Friday. Credit Suisse Group reissued a “hold” rating and set a $122.00 price target (down previously from $124.00) on shares of Pepsico in a report on Thursday. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a report on Tuesday. Finally, Susquehanna Bancshares Inc reissued a “buy” rating and set a $135.00 price target on shares of Pepsico in a report on Monday, October 2nd. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Pepsico presently has a consensus rating of “Buy” and a consensus target price of $121.71.
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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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