Pepsico, Inc. (PEP) Stake Lessened by First Financial Corp IN
First Financial Corp IN cut its holdings in Pepsico, Inc. (NYSE:PEP) by 1.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,668 shares of the company’s stock after selling 75 shares during the period. First Financial Corp IN’s holdings in Pepsico were worth $655,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in PEP. Asset Planning Services Ltd. grew its holdings in shares of 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 acquiring an additional 399 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its holdings 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 acquiring an additional 165 shares in the last quarter. Millie Capital Management LLC bought a new position in shares of Pepsico in the first quarter valued at approximately $202,000. Granite Investment Advisors LLC bought a new position in shares of Pepsico in the first quarter valued at approximately $204,000. Finally, Spectrum Management Group Inc. bought a new position in shares of Pepsico in the first quarter valued at approximately $205,000. 70.06% of the stock is owned by institutional investors.
In related news, SVP Marie T. Gallagher sold 41,489 shares of Pepsico stock in a transaction on Monday, August 7th. The shares were 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 owns 76,037 shares in the company, valued at approximately $8,878,840.49. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mehmood Khan sold 63,396 shares of Pepsico stock in a transaction 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 transaction, the executive vice president now owns 174,273 shares in the company, valued at approximately $20,283,634.47. The disclosure for this sale can be found here. Insiders have sold a total of 898,164 shares of company stock worth $104,585,929 in the last quarter. Corporate insiders own 0.26% of the company’s stock.
Several research firms have recently issued reports on PEP. Deutsche Bank AG reaffirmed a “buy” rating and issued a $122.00 target price (down from $125.00) on shares of Pepsico in a report on Friday. Credit Suisse Group AG reaffirmed a “hold” rating and issued a $122.00 target price (down from $124.00) on shares of Pepsico in a report on Thursday. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Susquehanna Bancshares Inc reiterated a “buy” rating and issued a $135.00 price objective on shares of Pepsico in a research note on Monday. Finally, Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $122.00 price objective on the stock in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $121.71.
Pepsico, Inc. (PEP) traded down 0.31% during midday trading on Friday, hitting $110.11. The company’s stock had a trading volume of 1,264,042 shares. The company’s 50 day moving average price is $114.33 and its 200 day moving average price is $114.73. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $119.39. The firm has a market cap of $156.69 billion, a P/E ratio of 22.76 and a beta of 0.68.
Pepsico (NYSE:PEP) last issued its quarterly earnings results 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 business 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 60.16%. The company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.40 EPS. Analysts expect that Pepsico, Inc. will post $5.19 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were paid a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Wednesday, August 30th. Pepsico’s dividend payout ratio is presently 66.53%.
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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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