North Star Asset Management Inc. Lowers Position in Pepsico, Inc. (PEP)
North Star Asset Management Inc. reduced its stake in shares of Pepsico, Inc. (NYSE:PEP) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,314 shares of the company’s stock after selling 1,015 shares during the period. North Star Asset Management Inc.’s holdings in Pepsico were worth $2,160,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Leith Wheeler Investment Counsel Ltd. bought a new position in Pepsico during the first quarter valued at approximately $157,000. Cigna Investments Inc. New bought a new position in Pepsico during the fourth quarter valued at approximately $7,843,000. Norges Bank bought a new position in Pepsico during the fourth quarter valued at approximately $1,492,411,000. AE Wealth Management LLC bought a new position in Pepsico during the fourth quarter valued at approximately $544,000. Finally, National Pension Service increased its position in Pepsico by 2.0% in the first quarter. National Pension Service now owns 945,000 shares of the company’s stock valued at $106,010,000 after buying an additional 18,835 shares in the last quarter. Hedge funds and other institutional investors own 70.19% of the company’s stock.
Shares of Pepsico, Inc. (NYSE PEP) traded up 0.378% during trading on Tuesday, reaching $118.285. The company’s stock had a trading volume of 472,818 shares. The stock’s 50 day moving average is $115.89 and its 200 day moving average is $113.03. Pepsico, Inc. has a one year low of $98.50 and a one year high of $118.33. The firm has a market cap of $168.62 billion, a P/E ratio of 25.050 and a beta of 0.67.
Pepsico (NYSE:PEP) last released its earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The business had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $15.57 billion. During the same period in the previous year, the company posted $1.35 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, equities analysts forecast that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 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 2.73%. The ex-dividend date is Wednesday, August 30th. Pepsico’s payout ratio is currently 68.22%.
PEP has been the topic of several research reports. Zacks Investment Research downgraded shares of Pepsico from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Jefferies Group LLC reiterated a “buy” rating and issued a $130.00 price objective (up from $127.00) on shares of Pepsico in a report on Thursday, July 6th. Vetr raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $125.54 target price for the company in a research report on Wednesday, April 26th. Credit Suisse Group reissued a “buy” rating on shares of Pepsico in a research report on Thursday, April 27th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $115.00 target price on shares of Pepsico in a research report on Thursday, April 27th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $123.40.
In other news, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the transaction, the executive vice president now directly owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.77, for a total value 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. Over the last ninety days, insiders have sold 898,164 shares of company stock worth $104,585,929. Corporate insiders own 0.26% of the company’s stock.
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).
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.