Pepsico, Inc. (PEP) Stake Decreased by Washington Trust Bank
Washington Trust Bank cut its stake in Pepsico, Inc. (NYSE:PEP) by 7.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 10,935 shares of the company’s stock after selling 855 shares during the period. Washington Trust Bank’s holdings in Pepsico were worth $1,263,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. Asset Planning Services Ltd. boosted its position in 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 in the last quarter. Leith Wheeler Investment Counsel Ltd. purchased a new stake in shares of Pepsico during the first quarter valued at $157,000. Millie Capital Management LLC purchased a new stake in shares of Pepsico during the first quarter valued at $202,000. Finally, Wsfs Capital Management LLC purchased a new stake in shares of Pepsico during the fourth quarter valued at $203,000. Institutional investors and hedge funds own 70.15% of the company’s stock.
Pepsico, Inc. (NYSE PEP) traded up 0.07% during trading on Wednesday, hitting $115.11. The stock had a trading volume of 918,674 shares. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $119.39. The stock has a 50-day moving average price of $116.38 and a 200-day moving average price of $113.78. The company has a market cap of $164.09 billion, a PE ratio of 24.38 and a beta of 0.67.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.10. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.35 EPS. Equities analysts predict that Pepsico, Inc. will post $5.15 EPS for the current year.
The business also recently disclosed 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. This represents a $3.22 annualized dividend and a yield of 2.78%. The ex-dividend date is Wednesday, August 30th. Pepsico’s payout ratio is 68.22%.
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Several analysts recently weighed in on the company. BidaskClub lowered Pepsico from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a report on Tuesday, August 22nd. Royal Bank Of Canada reissued a “hold” rating and issued a $115.00 price objective on shares of Pepsico in a report on Thursday, May 25th. Susquehanna Bancshares Inc reissued a “positive” rating and issued a $133.00 price objective (down from $134.00) on shares of Pepsico in a report on Thursday, July 6th. Finally, Credit Suisse Group boosted their price objective on Pepsico from $124.00 to $126.00 and gave the company an “outperform” rating in a report on Wednesday, July 12th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $123.40.
In related news, CEO Indra K. Nooyi sold 340,449 shares of the 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 completion of the transaction, the chief executive officer now owns 733,315 shares of the company’s stock, valued at approximately $85,372,532.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the transaction, the executive vice president now directly owns 174,273 shares of the company’s stock, valued at approximately $20,283,634.47. The disclosure for this sale can be found here. In the last three months, insiders sold 898,164 shares of company stock valued at $104,585,929. 0.26% of the stock is owned by insiders.
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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