Pepsico, Inc. (PEP) Shares Sold by Arvest Bank Trust Division
Arvest Bank Trust Division lowered its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 49.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,465 shares of the company’s stock after selling 4,420 shares during the quarter. Arvest Bank Trust Division’s holdings in Pepsico were worth $516,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in PEP. Asset Planning Services Ltd. grew its position in shares of Pepsico by 66.1% during the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after purchasing an additional 399 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its holdings in Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after buying an additional 165 shares in the last quarter. Millie Capital Management LLC purchased a new position in Pepsico during the 1st quarter valued at approximately $202,000. Granite Investment Advisors LLC purchased a new position in Pepsico during the 1st quarter valued at approximately $204,000. Finally, Spectrum Management Group Inc. purchased a new position in Pepsico during the 1st quarter valued at approximately $205,000. Hedge funds and other institutional investors own 70.06% of the company’s stock.
In other news, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction that occurred 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 $20,283,634.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $116.77, for a total value of $4,844,670.53. Following the completion of the sale, the senior vice president now owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The disclosure for this sale can be found here. Insiders sold 898,164 shares of company stock valued at $104,585,929 over the last 90 days. Company insiders own 0.26% of the company’s stock.
Pepsico, Inc. (PEP) traded down 0.19% during midday trading on Friday, hitting $111.43. The stock had a trading volume of 5,122,348 shares. The company has a market cap of $158.84 billion, a PE ratio of 23.60 and a beta of 0.68. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39. The firm has a 50-day moving average of $116.31 and a 200-day moving average of $114.69.
Pepsico (NYSE:PEP) last posted its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. The business had revenue of $15.71 billion during the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.35 earnings per share. Equities research analysts forecast that Pepsico, Inc. will post $5.16 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were given a $0.805 dividend. The ex-dividend date was Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.89%. Pepsico’s dividend payout ratio (DPR) is presently 68.22%.
PEP has been the subject of several research analyst reports. BMO Capital Markets cut Pepsico from an “outperform” rating to a “market perform” rating and raised their price target for the company from $118.00 to $120.00 in a report on Wednesday, June 7th. They noted that the move was a valuation call. Royal Bank Of Canada restated a “hold” rating and set a $115.00 price target on shares of Pepsico in a report on Friday, June 30th. BidaskClub cut Pepsico from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Susquehanna Bancshares Inc restated a “positive” rating and set a $133.00 price target (down previously from $134.00) on shares of Pepsico in a report on Thursday, July 6th. Finally, Jefferies Group LLC restated a “buy” rating and set a $130.00 price target (up previously from $127.00) on shares of Pepsico in a report on Thursday, July 6th. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $124.30.
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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