Pepsico, Inc. (PEP) Shares Sold by Annex Advisory Services LLC
Annex Advisory Services LLC trimmed its holdings in Pepsico, Inc. (NYSE:PEP) by 3.0% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,954 shares of the company’s stock after selling 151 shares during the quarter. Annex Advisory Services LLC’s holdings in Pepsico were worth $572,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Everence Capital Management Inc. boosted its position in Pepsico by 7.9% in the second quarter. Everence Capital Management Inc. now owns 38,858 shares of the company’s stock worth $4,488,000 after purchasing an additional 2,840 shares during the last quarter. Northeast Investment Management boosted its position in Pepsico by 2.6% in the second quarter. Northeast Investment Management now owns 122,816 shares of the company’s stock worth $14,184,000 after purchasing an additional 3,077 shares during the last quarter. ARS Investment Partners LLC boosted its position in Pepsico by 1.8% in the second quarter. ARS Investment Partners LLC now owns 41,623 shares of the company’s stock worth $4,807,000 after purchasing an additional 726 shares during the last quarter. First Eagle Investment Management LLC boosted its position in Pepsico by 19.6% in the second quarter. First Eagle Investment Management LLC now owns 2,883,383 shares of the company’s stock worth $333,002,000 after purchasing an additional 472,707 shares during the last quarter. Finally, Addenda Capital Inc. boosted its position in Pepsico by 41.8% in the second quarter. Addenda Capital Inc. now owns 44,516 shares of the company’s stock worth $4,990,000 after purchasing an additional 13,129 shares during the last quarter. Institutional investors own 70.21% of the company’s stock.
Several research analysts have issued reports on PEP shares. Zacks Investment Research cut Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. BMO Capital Markets reissued a “hold” rating and issued a $120.00 target price on shares of Pepsico in a research report on Wednesday, September 6th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $115.00 price objective on shares of Pepsico in a research report on Wednesday, September 6th. Finally, Credit Suisse Group cut Pepsico from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $126.00 to $124.00 in a research report on Friday, September 8th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $121.35.
In related news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total transaction of $2,370,328.99. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.
Pepsico, Inc. (NYSE:PEP) traded up $0.81 during mid-day trading on Friday, hitting $115.90. The stock had a trading volume of 1,180,000 shares, compared to its average volume of 3,111,672. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 2.32. The stock has a market cap of $164,826.38, a PE ratio of 22.64, a P/E/G ratio of 3.15 and a beta of 0.66.
Pepsico (NYSE:PEP) last posted its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.05. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The firm had revenue of $16.24 billion for the quarter, compared to analysts’ expectations of $16.35 billion. During the same period in the previous year, the firm earned $1.40 EPS. The business’s quarterly revenue was up 1.3% on a year-over-year basis. equities analysts forecast that Pepsico, Inc. will post 5.22 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Friday, December 1st will be paid a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a yield of 2.78%. The ex-dividend date is Thursday, November 30th. Pepsico’s dividend payout ratio (DPR) is presently 66.53%.
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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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