Pekin Singer Strauss Asset Management IL Has $4.55 Million Position in Pepsico, Inc. (PEP)
Pekin Singer Strauss Asset Management IL lowered its stake in shares of Pepsico, Inc. (NYSE:PEP) by 2.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,701 shares of the company’s stock after selling 1,052 shares during the period. Pepsico makes up about 0.9% of Pekin Singer Strauss Asset Management IL’s holdings, making the stock its 29th largest position. Pekin Singer Strauss Asset Management IL’s holdings in Pepsico were worth $4,553,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. HPM Partners LLC purchased a new stake in shares of Pepsico during the first quarter valued at $8,946,000. Girard Partners LTD. boosted its stake in shares of Pepsico by 4.4% in the first quarter. Girard Partners LTD. now owns 32,377 shares of the company’s stock valued at $3,622,000 after buying an additional 1,360 shares during the last quarter. Capital Fund Management S.A. boosted its stake in shares of Pepsico by 1,890.0% in the first quarter. Capital Fund Management S.A. now owns 306,971 shares of the company’s stock valued at $34,338,000 after buying an additional 291,545 shares during the last quarter. Alpha Cubed Investments LLC boosted its stake in shares of Pepsico by 8.5% in the first quarter. Alpha Cubed Investments LLC now owns 4,100 shares of the company’s stock valued at $459,000 after buying an additional 320 shares during the last quarter. Finally, Strategic Financial Group LLC boosted its stake in shares of Pepsico by 4.4% in the first quarter. Strategic Financial Group LLC now owns 2,336 shares of the company’s stock valued at $261,000 after buying an additional 98 shares during the last quarter. 70.15% of the stock is owned by institutional investors and hedge funds.
Shares of Pepsico, Inc. (PEP) remained flat at $115.04 on Wednesday. 483,830 shares of the stock were exchanged. The firm has a market cap of $163.99 billion, a P/E ratio of 24.36 and a beta of 0.67. The stock’s 50 day moving average price is $116.38 and its 200-day moving average price is $113.78. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39.
Pepsico (NYSE:PEP) last announced its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping the Zacks’ 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 during 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 business’s revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts expect that Pepsico, Inc. will post $5.15 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be given a dividend of $0.805 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Wednesday, August 30th. Pepsico’s dividend payout ratio is presently 68.22%.
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Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a research report on Tuesday. BidaskClub cut shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Cowen and Company reissued an “outperform” rating and set a $128.00 price target on shares of Pepsico in a research report on Thursday, July 13th. Jefferies Group LLC reissued a “buy” rating and set a $133.00 price target (up previously from $130.00) on shares of Pepsico in a research report on Wednesday, July 12th. Finally, Credit Suisse Group increased their price target on shares of Pepsico from $124.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, July 12th. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $123.40.
In related news, CEO Indra K. Nooyi sold 340,449 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $85,372,532.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $116.77, for a total value of $4,844,670.53. Following the sale, the senior vice president now owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. Over the last three months, insiders have sold 898,164 shares of company stock valued at $104,585,929. Corporate insiders own 0.26% of the company’s stock.
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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