PepsiCo, Inc. (PEP) Shares Sold by Bernzott Capital Advisors
Bernzott Capital Advisors trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 0.2% in the fourth quarter, HoldingsChannel reports. The firm owned 61,983 shares of the company’s stock after selling 100 shares during the quarter. Bernzott Capital Advisors’ holdings in PepsiCo were worth $6,848,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Stockman Wealth Management Inc. lifted its stake in PepsiCo by 0.5% in the fourth quarter. Stockman Wealth Management Inc. now owns 18,804 shares of the company’s stock valued at $2,077,000 after buying an additional 100 shares during the last quarter. Telos Capital Management Inc. lifted its stake in PepsiCo by 0.3% in the fourth quarter. Telos Capital Management Inc. now owns 34,032 shares of the company’s stock valued at $3,760,000 after buying an additional 101 shares during the last quarter. Whitnell & Co. lifted its stake in PepsiCo by 0.4% in the fourth quarter. Whitnell & Co. now owns 26,335 shares of the company’s stock valued at $2,909,000 after buying an additional 103 shares during the last quarter. Leavell Investment Management Inc. lifted its stake in PepsiCo by 0.6% in the fourth quarter. Leavell Investment Management Inc. now owns 16,637 shares of the company’s stock valued at $1,853,000 after buying an additional 106 shares during the last quarter. Finally, Hayek Kallen Investment Management lifted its stake in PepsiCo by 0.4% in the fourth quarter. Hayek Kallen Investment Management now owns 27,585 shares of the company’s stock valued at $3,048,000 after buying an additional 110 shares during the last quarter. 70.94% of the stock is owned by hedge funds and other institutional investors.
PEP has been the subject of a number of research reports. Macquarie upgraded PepsiCo from a “neutral” rating to an “outperform” rating and set a $126.00 price objective for the company in a research note on Tuesday, February 19th. Gabelli restated a “buy” rating on shares of PepsiCo in a research note on Tuesday, February 19th. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Royal Bank of Canada restated a “neutral” rating and set a $115.00 price target on shares of PepsiCo in a research note on Thursday, April 18th. Finally, Deutsche Bank upped their price target on PepsiCo from $120.00 to $131.00 and gave the stock a “hold” rating in a research note on Thursday, April 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $124.65.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Wednesday, April 17th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The firm had revenue of $12.88 billion during the quarter, compared to analysts’ expectations of $12.68 billion. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. PepsiCo’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 5.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be given a $0.955 dividend. This is a boost from PepsiCo’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $3.82 annualized dividend and a yield of 2.98%. PepsiCo’s dividend payout ratio is presently 65.55%.
In other PepsiCo news, CEO Vivek Sankaran sold 13,000 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $117.28, for a total value of $1,524,640.00. Following the completion of the transaction, the chief executive officer now owns 90,379 shares in the company, valued at $10,599,649.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Marie T. Gallagher sold 7,800 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $125.99, for a total value of $982,722.00. Following the completion of the transaction, the senior vice president now owns 55,665 shares of the company’s stock, valued at approximately $7,013,233.35. The disclosure for this sale can be found here. Insiders sold 61,494 shares of company stock valued at $7,698,345 in the last quarter. 0.28% of the stock is currently owned by company insiders.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
Read More: How Buying a Call Option Works
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PepsiCo, Inc. (NASDAQ:PEP).
Receive News & Ratings for PepsiCo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PepsiCo and related companies with MarketBeat.com's FREE daily email newsletter.