Pepsico, Inc. (PEP) Holdings Raised by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan boosted its stake in shares of Pepsico, Inc. (NYSE:PEP) by 2.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,350 shares of the company’s stock after purchasing an additional 1,590 shares during the quarter. Pepsico comprises 0.4% of Municipal Employees Retirement System of Michigan’s portfolio, making the stock its 27th largest holding. Municipal Employees Retirement System of Michigan’s holdings in Pepsico were worth $8,241,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently made changes to their positions in PEP. Riggs Asset Managment Co. Inc. boosted its position in Pepsico by 14.9% during the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after purchasing an additional 165 shares during the period. Millie Capital Management LLC bought a new stake in Pepsico during the first quarter worth approximately $202,000. Granite Investment Advisors LLC bought a new stake in Pepsico during the first quarter worth approximately $204,000. Spectrum Management Group Inc. bought a new stake in Pepsico during the first quarter worth approximately $205,000. Finally, Windsor Financial Group LLC bought a new stake in Pepsico during the first quarter worth approximately $205,000. 70.17% of the stock is owned by hedge funds and other institutional investors.
Pepsico, Inc. (PEP) opened at 112.62 on Monday. The firm has a market capitalization of $160.16 billion, a price-to-earnings ratio of 23.27 and a beta of 0.68. The company has a 50 day moving average price of $113.18 and a 200-day moving average price of $114.74. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $119.39.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.05. The business had revenue of $16.24 billion during the quarter, compared to the consensus estimate of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The firm’s quarterly revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 EPS. Equities analysts predict that Pepsico, Inc. will post $5.23 earnings per share for the current year.
In related news, EVP Mehmood Khan sold 63,396 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the sale, the executive vice president now directly owns 174,273 shares in the company, valued at approximately $20,283,634.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ramon Laguarta sold 21,449 shares of the business’s 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 disclosure for this sale can be found here. Insiders sold a total of 919,613 shares of company stock valued at $106,956,258 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.
Several equities research analysts have recently weighed in on the company. Jefferies Group LLC reissued a “buy” rating and issued a $133.00 price objective (up from $130.00) on shares of Pepsico in a research report on Wednesday, July 12th. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price objective for the company in a research report on Friday, July 14th. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Cowen and Company reissued a “buy” rating on shares of Pepsico in a research report on Sunday, September 17th. Finally, Susquehanna Bancshares Inc reissued a “buy” rating and issued a $135.00 price objective on shares of Pepsico in a research report on Monday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $121.35.
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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