Oppenheimer Asset Management Inc. Takes Position in Pepsico, Inc. (PEP)
Oppenheimer Asset Management Inc. acquired a new position in shares of Pepsico, Inc. (NYSE:PEP) during the first quarter, Holdings Channel reports. The firm acquired 148,532 shares of the company’s stock, valued at approximately $16,615,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Congress Asset Management Co. MA acquired a new position in Pepsico during the fourth quarter worth approximately $48,138,000. HCR Wealth Advisors acquired a new position in Pepsico during the fourth quarter worth approximately $374,000. Banco Santander S.A. acquired a new position in Pepsico during the fourth quarter worth approximately $2,931,000. Ancora Advisors LLC raised its position in Pepsico by 111.7% in the fourth quarter. Ancora Advisors LLC now owns 76,867 shares of the company’s stock worth $8,043,000 after buying an additional 40,562 shares in the last quarter. Finally, Seven Eight Capital LP acquired a new position in Pepsico during the fourth quarter worth approximately $1,151,000. Institutional investors own 70.52% of the company’s stock.
Pepsico, Inc. (NYSE PEP) traded up 0.73% during mid-day trading on Friday, reaching $117.23. 541,055 shares of the company were exchanged. The company’s 50 day moving average price is $115.86 and its 200-day moving average price is $112.72. The stock has a market capitalization of $167.11 billion, a P/E ratio of 24.83 and a beta of 0.67. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $118.24.
Pepsico (NYSE:PEP) last released its earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.10. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. Pepsico’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $1.35 EPS. On average, equities analysts expect that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.805 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 annualized dividend and a yield of 2.77%. Pepsico’s payout ratio is 68.22%.
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A number of research analysts have commented on the stock. Stifel Nicolaus restated a “hold” rating on shares of Pepsico in a research note on Wednesday, May 31st. BMO Capital Markets lowered shares of Pepsico from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $118.00 to $120.00 in a research note on Wednesday, June 7th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 target price on shares of Pepsico in a report on Thursday, May 25th. Finally, BidaskClub downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Six analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $123.40.
In other Pepsico news, EVP Mehmood Khan sold 63,396 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were 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 owns 174,273 shares of the company’s stock, valued at approximately $20,283,634.47. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Marie T. Gallagher sold 41,489 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were 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 approximately $8,878,840.49. The disclosure for this sale can be found here. In the last three months, insiders have sold 898,164 shares of company stock worth $104,585,929. 0.26% of the stock is owned by corporate 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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