MV Capital Management Inc. Maintains Stake in Pepsico, Inc. (PEP)
MV Capital Management Inc. continued to hold its position in shares of Pepsico, Inc. (NYSE:PEP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,057 shares of the company’s stock at the end of the 2nd quarter. MV Capital Management Inc.’s holdings in Pepsico were worth $238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently bought and sold shares of the company. Grove Bank & Trust lifted its holdings in shares of Pepsico by 41.6% in the 2nd quarter. Grove Bank & Trust now owns 11,371 shares of the company’s stock worth $1,313,000 after acquiring an additional 3,339 shares during the last quarter. Koshinski Asset Management Inc. lifted its holdings in shares of Pepsico by 4.0% in the 2nd quarter. Koshinski Asset Management Inc. now owns 6,907 shares of the company’s stock worth $798,000 after acquiring an additional 265 shares during the last quarter. Stratos Wealth Partners LTD. lifted its holdings in shares of Pepsico by 3.8% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 78,716 shares of the company’s stock worth $9,091,000 after acquiring an additional 2,905 shares during the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of Pepsico by 13.3% in the 1st quarter. State of Wisconsin Investment Board now owns 1,440,520 shares of the company’s stock worth $161,137,000 after acquiring an additional 169,049 shares during the last quarter. Finally, Crestwood Advisors Group LLC lifted its holdings in shares of Pepsico by 0.3% in the 2nd quarter. Crestwood Advisors Group LLC now owns 168,529 shares of the company’s stock worth $19,653,000 after acquiring an additional 491 shares during the last quarter. 70.53% of the stock is owned by institutional investors and hedge funds.
PEP has been the topic of several recent analyst reports. Cowen and Company restated 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 reduced their target price for the stock 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 set an “outperform” rating and a $125.00 target price on the stock. Finally, BMO Capital Markets reiterated a “hold” rating and set a $120.00 target price 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 company. The stock has a consensus rating of “Buy” and an average target price of $121.35.
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In related news, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the transaction, the senior vice president now directly owns 76,037 shares in the company, valued at $8,878,840.49. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.
Shares of Pepsico, Inc. (NYSE:PEP) opened at $110.22 on Friday. Pepsico, Inc. has a fifty-two week low of $98.50 and a fifty-two week high of $119.39. The firm has a market cap of $156,748.59, a price-to-earnings ratio of 21.53, a PEG ratio of 3.00 and a beta of 0.66. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21.
Pepsico (NYSE:PEP) last announced its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $16.24 billion for the quarter, compared to analyst estimates of $16.35 billion. During the same period last year, the business earned $1.40 EPS. The company’s revenue was up 1.3% on a year-over-year basis. sell-side analysts anticipate that Pepsico, Inc. will post 5.22 earnings per share for the current fiscal year.
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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