Midwest Investment Management LLC Has $348,000 Stake in Pepsico, Inc. (PEP)
Midwest Investment Management LLC held its position in shares of Pepsico, Inc. (NYSE:PEP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,015 shares of the company’s stock at the close of the second quarter. Midwest Investment Management LLC’s holdings in Pepsico were worth $348,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Barnett & Company Inc. raised its stake in Pepsico by 270.4% during the second quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after buying an additional 657 shares during the last quarter. Asset Planning Services Ltd. raised its stake in Pepsico by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock worth $116,000 after buying an additional 3 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its stake in Pepsico by 14.9% during the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after buying an additional 165 shares during the last quarter. S. R. Schill & Associates bought a new position in Pepsico during the second quarter worth $203,000. Finally, Armbruster Capital Management Inc. raised its stake in Pepsico by 21.6% during the second quarter. Armbruster Capital Management Inc. now owns 1,782 shares of the company’s stock worth $206,000 after buying an additional 317 shares during the last quarter. 70.21% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently weighed in on the stock. BidaskClub raised shares of Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research note on Tuesday, August 22nd. Credit Suisse Group downgraded shares of Pepsico from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $126.00 to $124.00 in a research note on Friday, September 8th. Royal Bank Of Canada reissued a “hold” rating and set a $115.00 target price on shares of Pepsico in a research note on Wednesday, September 6th. Finally, BMO Capital Markets reissued a “hold” rating and set a $120.00 target price on shares of Pepsico in a research note on Wednesday, September 6th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $121.35.
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Pepsico, Inc. (NYSE:PEP) opened at $115.08 on Thursday. The stock has a market cap of $165,039.69, a PE ratio of 22.67, a PEG ratio of 3.15 and a beta of 0.66. Pepsico, Inc. has a twelve month low of $98.50 and a twelve month 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, beating analysts’ consensus estimates 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 net margin of 10.97% and a return on equity of 59.68%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the company earned $1.40 earnings per share. sell-side analysts anticipate that Pepsico, Inc. will post 5.22 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be issued 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 Thursday, November 30th. Pepsico’s dividend payout ratio is currently 66.53%.
In other news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by company 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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