Sequoia Financial Advisors LLC Has $6.65 Million Stake in Pepsico, Inc. (PEP)
Sequoia Financial Advisors LLC decreased its position in Pepsico, Inc. (NYSE:PEP) by 21.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,434 shares of the company’s stock after selling 16,603 shares during the period. Pepsico comprises 0.8% of Sequoia Financial Advisors LLC’s portfolio, making the stock its 26th largest position. Sequoia Financial Advisors LLC’s holdings in Pepsico were worth $6,648,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the company. CMH Wealth Management LLC bought a new stake in Pepsico during the fourth quarter worth about $220,000. SNS Financial Group LLC increased its stake in Pepsico by 9.1% in the fourth quarter. SNS Financial Group LLC now owns 3,371 shares of the company’s stock worth $353,000 after buying an additional 281 shares during the period. Assenagon Asset Management S.A. bought a new stake in Pepsico during the fourth quarter worth about $2,657,000. Norges Bank bought a new stake in Pepsico during the fourth quarter worth about $1,492,411,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in Pepsico during the fourth quarter worth about $125,000. 70.15% of the stock is currently owned by institutional investors.
Shares of Pepsico, Inc. (PEP) traded down 0.22% during midday trading on Monday, reaching $115.60. 510,934 shares of the company traded hands. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $119.39. The company’s 50 day moving average is $116.38 and its 200-day moving average is $113.78. The stock has a market capitalization of $164.79 billion, a price-to-earnings ratio of 24.48 and a beta of 0.67.
Pepsico (NYSE:PEP) last issued its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The company had revenue of $15.71 billion during the quarter, compared to analyst estimates of $15.57 billion. During the same period in the previous year, the company earned $1.35 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Equities research analysts forecast that Pepsico, Inc. will post $5.15 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a dividend of $0.805 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.78%. Pepsico’s dividend payout ratio (DPR) is presently 68.22%.
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A number of equities research analysts have recently issued reports on PEP shares. Jefferies Group LLC reissued a “buy” rating and issued a $133.00 price target (up from $130.00) on shares of Pepsico in a research note on Wednesday, July 12th. BidaskClub downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Vetr raised shares of Pepsico from a “buy” rating to a “strong-buy” rating and set a $125.54 price target on the stock in a research note on Wednesday, May 3rd. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a research note on Tuesday, August 22nd. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $115.00 price target on shares of Pepsico in a research note on Thursday, May 25th. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $123.61.
In related news, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the transaction, the executive vice president now directly owns 174,273 shares in the company, valued at $20,283,634.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of the company’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.77, for a total value of $4,844,670.53. Following the completion of the transaction, the senior vice president now owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 898,164 shares of company stock valued at $104,585,929. Corporate 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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