Legacy Capital Partners Inc. Reduces Position in Pepsico, Inc. (PEP)
Legacy Capital Partners Inc. lessened its position in shares of Pepsico, Inc. (NYSE:PEP) by 0.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,557 shares of the company’s stock after selling 129 shares during the quarter. Pepsico comprises 1.5% of Legacy Capital Partners Inc.’s investment portfolio, making the stock its 24th biggest holding. Legacy Capital Partners Inc.’s holdings in Pepsico were worth $2,836,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of PEP. Sanders Capital LLC acquired a new stake in Pepsico during the 1st quarter worth approximately $254,277,000. Harbour Capital Advisors LLC lifted its position in Pepsico by 11,316.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,183,685 shares of the company’s stock worth $18,908,000 after acquiring an additional 2,164,557 shares during the period. Canada Pension Plan Investment Board lifted its position in Pepsico by 92.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock worth $371,065,000 after acquiring an additional 1,593,550 shares during the period. Karp Capital Management Corp acquired a new stake in Pepsico during the 1st quarter worth approximately $112,080,000. Finally, Pioneer Investment Management Inc. lifted its position in Pepsico by 19.9% during the 1st quarter. Pioneer Investment Management Inc. now owns 4,414,828 shares of the company’s stock worth $493,842,000 after acquiring an additional 733,294 shares during the period. 70.53% of the stock is owned by institutional investors.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.
Pepsico, Inc. (NYSE PEP) opened at $110.22 on Monday. The stock has a market capitalization of $156,748.59, a price-to-earnings ratio of 21.53, a P/E/G ratio of 3.00 and a beta of 0.66. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $119.39. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 2.32.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.05. The firm had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. Pepsico’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 earnings per share. analysts predict that Pepsico, Inc. will post 5.22 EPS for the current year.
Several research firms have recently commented on PEP. 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 $132.00 price target for the company in a report on Tuesday, August 22nd. Credit Suisse Group cut 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 report on Friday, September 8th. Royal Bank Of Canada reissued a “hold” rating and issued a $115.00 price target on shares of Pepsico in a report on Wednesday, September 6th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $120.00 price target on shares of Pepsico in a report on Wednesday, September 6th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $121.35.
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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