Pepsico, Inc. (PEP) Shares Sold by Davis Rea LTD.
Davis Rea LTD. reduced its stake in shares of Pepsico, Inc. (NYSE:PEP) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,055 shares of the company’s stock after selling 130 shares during the period. Pepsico accounts for 1.4% of Davis Rea LTD.’s investment portfolio, making the stock its 24th largest position. Davis Rea LTD.’s holdings in Pepsico were worth $2,020,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in PEP. Asset Planning Services Ltd. raised its stake in shares of Pepsico by 66.1% in the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock valued at $112,000 after buying an additional 399 shares during the period. Riggs Asset Managment Co. Inc. raised its stake in shares of Pepsico by 14.9% in the first 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 during the period. Israel Discount Bank of New York GFN bought a new stake in shares of Pepsico during the fourth quarter valued at about $150,000. Leith Wheeler Investment Counsel Ltd. bought a new stake in shares of Pepsico during the first quarter valued at about $157,000. Finally, Millie Capital Management LLC bought a new stake in shares of Pepsico during the first quarter valued at about $202,000. Institutional investors and hedge funds own 70.15% of the company’s stock.
Shares of Pepsico, Inc. (PEP) traded up 0.27% on Tuesday, hitting $115.85. 339,197 shares of the stock traded hands. The firm’s 50-day moving average is $116.38 and its 200 day moving average is $113.78. The firm has a market cap of $165.15 billion, a P/E ratio of 24.53 and a beta of 0.67. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39.
Pepsico (NYSE:PEP) last issued its earnings results on Tuesday, July 11th. The company reported $1.50 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%. Pepsico’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $1.35 earnings per share. Equities research analysts forecast that Pepsico, Inc. will post $5.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be paid a $0.805 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.79%. Pepsico’s payout ratio is 68.22%.
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Several analysts have recently issued reports on PEP shares. Jefferies Group LLC reiterated a “buy” rating and issued a $130.00 target price (up previously from $127.00) on shares of Pepsico in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a research report on Friday, July 14th. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Stifel Nicolaus restated a “hold” rating on shares of Pepsico in a research report on Wednesday, May 31st. Finally, Royal Bank Of Canada restated a “hold” rating and set a $115.00 price target on shares of Pepsico in a research report on Thursday, May 25th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Pepsico currently has a consensus rating of “Buy” and a consensus price target of $123.61.
In related news, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $116.77, for a total value of $4,844,670.53. Following the completion of the transaction, the senior vice president now directly owns 76,037 shares in the company, valued at $8,878,840.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction on Monday, July 24th. The shares were sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the transaction, the executive vice president now owns 174,273 shares of the company’s stock, valued at $20,283,634.47. 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. 0.26% of the stock is currently owned by corporate insiders.
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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