Pepsico, Inc. (PEP) Shares Sold by Physicians Financial Services Inc.
Physicians Financial Services Inc. cut its position in Pepsico, Inc. (NYSE:PEP) by 7.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,223 shares of the company’s stock after selling 967 shares during the quarter. Pepsico makes up 1.2% of Physicians Financial Services Inc.’s investment portfolio, making the stock its 29th biggest holding. Physicians Financial Services Inc.’s holdings in Pepsico were worth $1,412,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Sanders Capital LLC purchased a new position in shares of Pepsico during the 1st quarter worth approximately $254,277,000. Harbour Capital Advisors LLC raised its stake in shares of Pepsico by 11,316.2% during the 2nd quarter. Harbour Capital Advisors LLC now owns 2,183,685 shares of the company’s stock worth $18,908,000 after buying an additional 2,164,557 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Pepsico by 92.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock worth $371,065,000 after buying an additional 1,593,550 shares in the last quarter. Karp Capital Management Corp purchased a new position in Pepsico in the 1st quarter valued at approximately $112,080,000. Finally, Pioneer Investment Management Inc. increased its stake in Pepsico by 19.9% in the 1st quarter. Pioneer Investment Management Inc. now owns 4,414,828 shares of the company’s stock valued at $493,842,000 after purchasing an additional 733,294 shares in the last quarter. 70.53% of the stock is owned by hedge funds and other institutional investors.
Pepsico (NYSE:PEP) last released its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.05. The firm had revenue of $16.24 billion during the quarter, compared to analyst estimates of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 EPS.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the business’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Marie T. Gallagher sold 41,489 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the transaction, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.
Several research firms recently weighed in on PEP. Zacks Investment Research downgraded Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, September 4th. 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. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. BMO Capital Markets reaffirmed a “hold” rating and issued a $120.00 price objective on shares of Pepsico in a research note on Wednesday, September 6th. Finally, Cowen and Company reiterated a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $121.35.
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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