Pepsico, Inc. (PEP) Shares Sold by Perigon Wealth Management LLC
Perigon Wealth Management LLC lowered its stake in shares of Pepsico, Inc. (NYSE:PEP) by 37.6% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,354 shares of the company’s stock after selling 815 shares during the period. Perigon Wealth Management LLC’s holdings in Pepsico were worth $156,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in PEP. Vanguard Group Inc. raised its position in Pepsico by 2.4% in the second quarter. Vanguard Group Inc. now owns 112,083,751 shares of the company’s stock worth $12,944,553,000 after purchasing an additional 2,635,738 shares in the last quarter. Ameriprise Financial Inc. raised its position in Pepsico by 2.5% in the second quarter. Ameriprise Financial Inc. now owns 12,699,308 shares of the company’s stock worth $1,466,839,000 after purchasing an additional 306,675 shares in the last quarter. FMR LLC raised its position in Pepsico by 8.3% in the second quarter. FMR LLC now owns 8,043,420 shares of the company’s stock worth $928,934,000 after purchasing an additional 618,813 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Pepsico by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 7,781,835 shares of the company’s stock worth $898,725,000 after purchasing an additional 238,221 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in Pepsico by 7.0% in the second quarter. Alliancebernstein L.P. now owns 6,568,054 shares of the company’s stock worth $758,545,000 after purchasing an additional 428,728 shares in the last quarter. 70.50% of the stock is owned by institutional investors and hedge funds.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the company’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total transaction of $2,370,328.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping 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 10.97% and a return on equity of 59.68%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. sell-side analysts predict that Pepsico, Inc. will post 5.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.805 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.22 annualized dividend and a yield of 2.70%. Pepsico’s dividend payout ratio is 66.53%.
Several research firms recently issued reports on PEP. Zacks Investment Research raised shares of Pepsico from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Deutsche Bank began coverage on shares of Pepsico in a research report on Wednesday. They issued a “buy” rating and a $132.00 price target for the company. BMO Capital Markets reissued a “hold” rating and issued a $120.00 price target on shares of Pepsico in a research report on Wednesday, September 6th. Credit Suisse Group reissued a “hold” rating and issued a $122.00 price target (down previously from $124.00) on shares of Pepsico in a research report on Thursday, October 5th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of Pepsico in a research report on Sunday, November 12th. Eight analysts have rated the stock with a hold rating, eight 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 an average target price of $122.73.
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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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