Morris Capital Advisors LLC Reduces Position in Pepsico, Inc. (PEP)
Morris Capital Advisors LLC lessened its stake in shares of Pepsico, Inc. (NYSE:PEP) by 0.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,511 shares of the company’s stock after selling 18 shares during the period. Morris Capital Advisors LLC’s holdings in Pepsico were worth $521,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. QV Investors Inc. lifted its position in shares of Pepsico by 1.4% during the 2nd quarter. QV Investors Inc. now owns 37,940 shares of the company’s stock valued at $4,381,000 after acquiring an additional 520 shares during the period. S. R. Schill & Associates acquired a new position in shares of Pepsico during the 2nd quarter valued at $203,000. Pinnacle Financial Partners Inc. increased its stake in Pepsico by 44.6% during the 2nd quarter. Pinnacle Financial Partners Inc. now owns 71,526 shares of the company’s stock valued at $8,261,000 after purchasing an additional 22,070 shares in the last quarter. Accredited Investors Inc. increased its stake in Pepsico by 1.1% during the 2nd quarter. Accredited Investors Inc. now owns 6,124 shares of the company’s stock valued at $707,000 after purchasing an additional 67 shares in the last quarter. Finally, Tortoise Investment Management LLC increased its stake in Pepsico by 13.8% during the 2nd quarter. Tortoise Investment Management LLC now owns 4,493 shares of the company’s stock valued at $519,000 after purchasing an additional 545 shares in the last quarter. Institutional investors own 70.54% of the company’s stock.
Shares of Pepsico, Inc. (NYSE:PEP) opened at $115.10 on Thursday. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 2.32. The stock has a market cap of $164,627.27, a price-to-earnings ratio of 22.61, a PEG ratio of 3.15 and a beta of 0.66.
Pepsico (NYSE:PEP) last posted its earnings results 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 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 in the prior year, the business posted $1.40 EPS. The business’s revenue was up 1.3% compared to the same quarter last year. research analysts expect that Pepsico, Inc. will post 5.22 earnings per share for the current year.
In related news, insider Ramon Laguarta sold 21,449 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.
COPYRIGHT VIOLATION NOTICE: This news story was first published by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.watchlistnews.com/morris-capital-advisors-llc-reduces-position-in-pepsico-inc-pep/1706174.html.
PEP has been the subject of a number of recent research reports. Cowen and Company restated a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research note on Tuesday, August 22nd. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Susquehanna Bancshares Inc restated a “buy” rating and set a $135.00 price target on shares of Pepsico in a research note on Monday, October 2nd. Finally, Deutsche Bank AG restated a “buy” rating and set a $122.00 price target (down previously from $125.00) on shares of Pepsico in a research note on Friday, October 6th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Pepsico currently has an average rating of “Buy” and a consensus target price of $121.35.
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).
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pepsico, Inc. (NYSE:PEP).
Receive News & Ratings for Pepsico Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pepsico Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.