Pepsico, Inc. (PEP) Shares Sold by Forte Capital LLC ADV
Forte Capital LLC ADV lowered its position in Pepsico, Inc. (NYSE:PEP) by 20.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,560 shares of the company’s stock after selling 3,542 shares during the quarter. Forte Capital LLC ADV’s holdings in Pepsico were worth $1,566,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. National Pension Service increased its holdings in Pepsico by 9.8% during the 2nd quarter. National Pension Service now owns 1,037,487 shares of the company’s stock worth $119,498,000 after purchasing an additional 92,487 shares during the period. State of Alaska Department of Revenue raised its position in Pepsico by 2.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 154,719 shares of the company’s stock valued at $17,867,000 after purchasing an additional 3,335 shares in the last quarter. Fisher Asset Management LLC raised its position in Pepsico by 5.0% during the 2nd quarter. Fisher Asset Management LLC now owns 5,775,278 shares of the company’s stock valued at $666,987,000 after purchasing an additional 277,607 shares in the last quarter. Peak Capital Management LLC bought a new stake in Pepsico during the 2nd quarter valued at $488,000. Finally, Creative Planning raised its position in Pepsico by 0.8% during the 2nd quarter. Creative Planning now owns 765,883 shares of the company’s stock valued at $88,452,000 after purchasing an additional 6,190 shares in the last quarter. 70.06% of the stock is currently owned by institutional investors.
PEP has been the topic of several research reports. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a research note on Tuesday. BMO Capital Markets downgraded Pepsico from an “outperform” rating to a “market perform” rating and lifted their price objective 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. Cowen and Company reaffirmed an “outperform” rating and issued a $128.00 price objective on shares of Pepsico in a research note on Thursday, July 13th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $133.00 price objective (down from $134.00) on shares of Pepsico in a research note on Thursday, July 6th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $133.00 target price (up from $130.00) on shares of Pepsico in a report on Wednesday, July 12th. Seven analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Pepsico has an average rating of “Buy” and a consensus price target of $121.87.
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In other Pepsico news, EVP Mehmood Khan sold 63,396 shares of Pepsico stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the sale, the executive vice president now directly owns 174,273 shares of the company’s stock, valued at approximately $20,283,634.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Marie T. Gallagher sold 41,489 shares of Pepsico stock in a transaction dated 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 sale, the senior vice president now directly 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 have sold a total of 898,164 shares of company stock valued at $104,585,929 in the last quarter. 0.26% of the stock is currently owned by company insiders.
Shares of Pepsico, Inc. (NYSE PEP) traded up 0.9050% during midday trading on Wednesday, reaching $110.1176. 5,584,773 shares of the company’s stock traded hands. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $119.39. The firm’s 50-day moving average price is $114.86 and its 200 day moving average price is $114.80. The stock has a market capitalization of $156.97 billion, a P/E ratio of 23.3201 and a beta of 0.68. Pepsico also was the recipient of unusually large options trading activity on Monday. Stock traders acquired 5,616 put options on the company. This represents an increase of 248% compared to the typical daily volume of 1,616 put options.
Pepsico (NYSE:PEP) last issued its earnings results on Wednesday, September 27th. The company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.05. The firm had revenue of $16.24 billion for the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 earnings per share. On average, equities analysts predict that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were issued a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend was Wednesday, August 30th. Pepsico’s dividend payout ratio (DPR) is presently 68.22%.
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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