Mckinley Capital Management LLC Delaware Boosts Stake in Pepsico, Inc. (PEP)
Mckinley Capital Management LLC Delaware raised its stake in Pepsico, Inc. (NYSE:PEP) by 1,132.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 168,595 shares of the company’s stock after acquiring an additional 154,911 shares during the quarter. Mckinley Capital Management LLC Delaware’s holdings in Pepsico were worth $19,471,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Pepsico by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 112,083,751 shares of the company’s stock valued at $12,944,553,000 after buying an additional 2,635,738 shares during the last quarter. Sanders Capital LLC bought a new position in Pepsico in the 1st quarter valued at approximately $254,277,000. Harbour Capital Advisors LLC raised its holdings in Pepsico by 11,316.2% in the 2nd quarter. Harbour Capital Advisors LLC now owns 2,183,685 shares of the company’s stock valued at $18,908,000 after buying an additional 2,164,557 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in Pepsico by 92.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock valued at $371,065,000 after buying an additional 1,593,550 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its holdings in Pepsico by 49.9% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 4,155,387 shares of the company’s stock valued at $479,906,000 after buying an additional 1,383,267 shares during the last quarter. 70.50% of the stock is owned by hedge funds and other institutional investors.
PEP has been the subject of a number of research reports. Cowen reiterated a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Credit Suisse Group lowered shares of Pepsico from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $126.00 to $124.00 in a report on Friday, September 8th. Zacks Investment Research lowered shares of Pepsico from a “buy” rating to a “hold” rating in a report on Monday, August 28th. Macquarie initiated coverage on shares of Pepsico in a report on Thursday, September 14th. They issued an “outperform” rating and a $125.00 price objective for the company. Finally, Royal Bank Of Canada reiterated a “hold” rating on shares of Pepsico in a report on Sunday, November 12th. Eight equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Pepsico presently has a consensus rating of “Buy” and a consensus target price of $121.96.
In other news, insider Ramon Laguarta sold 21,449 shares of the firm’s stock in a transaction that occurred 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.
Pepsico, Inc. (PEP) traded down $0.16 during trading on Friday, reaching $116.57. 3,095,602 shares of the company’s stock traded hands, compared to its average volume of 3,493,230. 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, Inc. has a 52-week low of $101.06 and a 52-week high of $119.39. The company has a market cap of $166,006.75, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 3.17 and a beta of 0.68.
Pepsico (NYSE:PEP) last released its quarterly earnings results 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. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The firm had revenue of $16.24 billion during the quarter, compared to analyst estimates of $16.35 billion. During the same quarter last year, the business earned $1.40 EPS. The company’s revenue was up 1.3% compared to the same quarter last year. equities research analysts expect that Pepsico, Inc. will post 5.22 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be given a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, November 30th. Pepsico’s dividend payout ratio (DPR) is 66.53%.
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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