Pepsico, Inc. (PEP) Stake Decreased by Bank of The West
Bank of The West lowered its holdings in Pepsico, Inc. (NYSE:PEP) by 24.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,946 shares of the company’s stock after selling 11,256 shares during the quarter. Bank of The West’s holdings in Pepsico were worth $4,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also bought and sold shares of PEP. Honkamp Krueger Financial Services Inc. raised its stake in shares of Pepsico by 3.1% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 26,799 shares of the company’s stock worth $2,998,000 after purchasing an additional 805 shares during the last quarter. Gierl Augustine Investment Management Inc raised its stake in shares of Pepsico by 0.8% in the first quarter. Gierl Augustine Investment Management Inc now owns 1,846 shares of the company’s stock worth $207,000 after purchasing an additional 14 shares during the last quarter. First Command Financial Services Inc. raised its stake in shares of Pepsico by 4.9% in the first quarter. First Command Financial Services Inc. now owns 6,423 shares of the company’s stock worth $718,000 after purchasing an additional 299 shares during the last quarter. Hays Advisory LLC raised its stake in shares of Pepsico by 11.6% in the first quarter. Hays Advisory LLC now owns 2,244 shares of the company’s stock worth $251,000 after purchasing an additional 233 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. raised its stake in shares of Pepsico by 4.2% in the first quarter. Winslow Evans & Crocker Inc. now owns 7,972 shares of the company’s stock worth $892,000 after purchasing an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 70.06% of the company’s stock.
In other Pepsico news, CEO Indra K. Nooyi sold 340,449 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $116.42, for a total value of $39,635,072.58. Following the transaction, the chief executive officer now directly owns 733,315 shares of the company’s stock, valued at approximately $85,372,532.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Indra K. Nooyi sold 452,830 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the completion of the transaction, the chairman now directly owns 733,315 shares in the company, valued at $85,387,198.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 898,164 shares of company stock worth $104,585,929. 0.26% of the stock is currently owned by insiders.
Pepsico, Inc. (NYSE PEP) traded down 0.19% during mid-day trading on Friday, reaching $111.43. The company’s stock had a trading volume of 5,122,348 shares. The company has a market capitalization of $158.84 billion, a price-to-earnings ratio of 23.60 and a beta of 0.68. Pepsico, Inc. has a one year low of $98.50 and a one year high of $119.39. The stock has a 50-day moving average price of $116.31 and a 200-day moving average price of $114.69. Pepsico also saw unusually large options trading on Wednesday. Investors acquired 1,176 call options on the stock. This is an increase of 536% compared to the typical daily volume of 185 call options.
Pepsico (NYSE:PEP) last posted its earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The firm had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $15.57 billion. During the same period last year, the firm earned $1.35 EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis. Equities research analysts forecast that Pepsico, Inc. will post $5.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 1st were issued a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Wednesday, August 30th. Pepsico’s payout ratio is 68.22%.
PEP has been the subject of several recent analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $133.00 price target (up previously from $130.00) on shares of Pepsico in a research note on Wednesday, July 12th. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price target for the company in a research note on Friday, July 14th. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Cowen and Company restated a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $115.00 price target on shares of Pepsico in a research note on Friday, June 30th. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $123.75.
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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