Pepsico, Inc. (PEP) Position Raised by Welch Investments LLC
Welch Investments LLC lifted its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,295 shares of the company’s stock after buying an additional 1,438 shares during the period. Pepsico makes up 3.3% of Welch Investments LLC’s portfolio, making the stock its 13th biggest position. Welch Investments LLC’s holdings in Pepsico were worth $4,423,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in PEP. Koshinski Asset Management Inc. lifted its holdings in Pepsico by 4.0% in the second quarter. Koshinski Asset Management Inc. now owns 6,907 shares of the company’s stock valued at $798,000 after acquiring an additional 265 shares during the period. State of Wisconsin Investment Board lifted its holdings in Pepsico by 13.3% in the first quarter. State of Wisconsin Investment Board now owns 1,440,520 shares of the company’s stock valued at $161,137,000 after acquiring an additional 169,049 shares during the period. Westpac Banking Corp lifted its holdings in Pepsico by 7.8% in the first quarter. Westpac Banking Corp now owns 209,821 shares of the company’s stock valued at $22,373,000 after acquiring an additional 15,215 shares during the period. Wright Investors Service Inc. lifted its holdings in Pepsico by 69.2% in the second quarter. Wright Investors Service Inc. now owns 22,280 shares of the company’s stock valued at $2,573,000 after acquiring an additional 9,110 shares during the period. Finally, Gilbert & Cook Inc. lifted its holdings in Pepsico by 80.4% in the second quarter. Gilbert & Cook Inc. now owns 4,744 shares of the company’s stock valued at $548,000 after acquiring an additional 2,115 shares during the period. 70.31% of the stock is currently owned by institutional investors.
Shares of Pepsico, Inc. (NYSE PEP) opened at 111.61 on Monday. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. The company’s 50 day moving average price is $112.79 and its 200 day moving average price is $114.72. The stock has a market cap of $158.73 billion, a PE ratio of 23.06 and a beta of 0.68.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. The company had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. Pepsico’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.40 EPS. On average, analysts anticipate that Pepsico, Inc. will post $5.22 earnings per share for the current year.
A number of research analysts have weighed in on PEP shares. Jefferies Group LLC reissued a “buy” rating and issued a $133.00 target price (up previously from $130.00) on shares of Pepsico in a report on Wednesday, July 12th. BidaskClub downgraded Pepsico from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research note on Tuesday, August 22nd. Susquehanna Bancshares Inc reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Pepsico in a research note on Monday, October 2nd. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $122.00 price objective (down previously from $124.00) on shares of Pepsico in a research note on Thursday, October 5th. Seven 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. Pepsico has a consensus rating of “Buy” and an average target price of $121.35.
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In other Pepsico news, SVP Marie T. Gallagher sold 41,489 shares of the stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the completion of the transaction, the senior vice president now owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction that occurred 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 have sold 515,768 shares of company stock valued at $59,942,525 in the last three months. 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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