Rikoon Group LLC Has $2,629,000 Stake in Pepsico, Inc. (PEP)
Rikoon Group LLC maintained its position in Pepsico, Inc. (NYSE:PEP) during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 22,771 shares of the company’s stock at the close of the 2nd quarter. Pepsico accounts for 1.2% of Rikoon Group LLC’s holdings, making the stock its 24th largest holding. Rikoon Group LLC’s holdings in Pepsico were worth $2,629,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Asset Planning Services Ltd. grew its holdings in shares of Pepsico by 0.3% during the second quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock valued at $116,000 after buying an additional 3 shares during the last quarter. Accurate Investment Solutions Inc. grew its holdings in shares of Pepsico by 0.3% during the second quarter. Accurate Investment Solutions Inc. now owns 1,851 shares of the company’s stock valued at $214,000 after buying an additional 5 shares during the last quarter. Northwest Wealth Management LLC grew its holdings in shares of Pepsico by 0.4% during the second quarter. Northwest Wealth Management LLC now owns 2,511 shares of the company’s stock valued at $290,000 after buying an additional 11 shares during the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Pepsico by 0.3% during the second quarter. Sunbelt Securities Inc. now owns 4,682 shares of the company’s stock valued at $541,000 after buying an additional 12 shares during the last quarter. Finally, Willingdon Wealth Management grew its holdings in shares of Pepsico by 0.3% during the first quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock valued at $714,000 after buying an additional 16 shares during the last quarter. Institutional investors and hedge funds own 70.50% of the company’s stock.
A number of research analysts have recently issued reports on PEP shares. Cowen reiterated a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Credit Suisse Group cut shares of Pepsico from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $126.00 to $124.00 in a report on Friday, September 8th. Zacks Investment Research lowered shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Royal Bank of Canada reissued a “hold” rating on shares of Pepsico in a research report on Sunday, November 12th. Finally, Macquarie assumed coverage on shares of Pepsico in a research report on Thursday, September 14th. They set an “outperform” rating and a $125.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $122.73.
Pepsico, Inc. (PEP) traded up $0.22 on Friday, hitting $118.02. 4,057,700 shares of the company were exchanged, compared to its average volume of 3,660,545. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21. Pepsico, Inc. has a one year low of $101.06 and a one year high of $119.39. The company has a market capitalization of $167,528.44, a price-to-earnings ratio of 23.01, a P/E/G ratio of 3.20 and a beta of 0.68.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. The company had revenue of $16.24 billion for 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 firm’s revenue was up 1.3% on a year-over-year basis. During the same period last year, the firm earned $1.40 earnings per share. analysts predict that Pepsico, Inc. will post 5.22 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be given a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.73%. The ex-dividend date of this dividend is Thursday, November 30th. Pepsico’s dividend payout ratio is 66.53%.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.26% of the company’s stock.
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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