Peak Capital Management LLC Purchases Shares of 4,224 Pepsico, Inc. (PEP)
Peak Capital Management LLC purchased a new position in shares of Pepsico, Inc. (NYSE:PEP) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,224 shares of the company’s stock, valued at approximately $488,000.
Other institutional investors also recently made changes to their positions in the company. Asset Planning Services Ltd. lifted its position in shares of Pepsico by 66.1% during the 1st quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after buying an additional 399 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in shares of Pepsico by 14.9% in the 1st 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. Millie Capital Management LLC bought a new position in shares of Pepsico in the first quarter valued at approximately $202,000. Granite Investment Advisors LLC bought a new position in shares of Pepsico in the first quarter valued at approximately $204,000. Finally, Spectrum Management Group Inc. bought a new position in shares of Pepsico in the first quarter valued at approximately $205,000. Institutional investors and hedge funds own 70.06% of the company’s stock.
Pepsico, Inc. (NYSE PEP) traded up 0.92% during trading on Wednesday, reaching $110.13. 5,582,049 shares of the company’s stock were exchanged. The company has a market cap of $156.99 billion, a P/E ratio of 23.32 and a beta of 0.68. The stock’s 50-day moving average is $114.86 and its 200-day moving average is $114.80. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39. Pepsico also was the target of unusually large options trading on Monday. Stock investors purchased 5,616 put options on the stock. This is an increase of 248% compared to the typical daily volume of 1,616 put options.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Wednesday, September 27th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.05. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The company had revenue of $16.24 billion for the quarter, compared to analysts’ expectations of $16.35 billion. During the same quarter in the previous year, the business posted $1.40 earnings per share. Pepsico’s quarterly revenue was up 1.3% on a year-over-year basis. Analysts predict that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were given a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Wednesday, August 30th. Pepsico’s dividend payout ratio is 68.22%.
In other news, Chairman Indra K. Nooyi sold 452,830 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total value of $52,727,525.20. Following the sale, the chairman now owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Indra K. Nooyi sold 340,449 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the completion of the sale, the chief executive officer now owns 733,315 shares of the company’s stock, valued at approximately $85,372,532.30. The disclosure for this sale can be found here. Insiders have sold a total of 898,164 shares of company stock worth $104,585,929 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.
A number of brokerages have issued reports on PEP. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a research note on Tuesday, August 22nd. BMO Capital Markets downgraded shares of Pepsico from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $118.00 to $120.00 in a report on Wednesday, June 7th. They noted that the move was a valuation call. Credit Suisse Group downgraded shares of Pepsico from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $126.00 to $124.00 in a report on Friday, September 8th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $115.00 price target on shares of Pepsico in a research report on Wednesday, September 6th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $121.87.
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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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