Stifel Financial Corp Sells 131,919 Shares of Pepsico, Inc. (PEP)
Stifel Financial Corp decreased its stake in shares of Pepsico, Inc. (NYSE:PEP) by 6.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,846,558 shares of the company’s stock after selling 131,919 shares during the quarter. Pepsico makes up 0.8% of Stifel Financial Corp’s investment portfolio, making the stock its 14th biggest holding. Stifel Financial Corp owned approximately 0.13% of Pepsico worth $213,548,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently modified their holdings of PEP. Parsec Financial Management Inc. increased its holdings in Pepsico by 2.7% during the 1st quarter. Parsec Financial Management Inc. now owns 183,302 shares of the company’s stock worth $20,504,000 after purchasing an additional 4,823 shares during the period. QV Investors Inc. increased its holdings in shares of Pepsico by 18.4% in the 1st quarter. QV Investors Inc. now owns 37,420 shares of the company’s stock valued at $4,185,000 after acquiring an additional 5,810 shares during the last quarter. State of New Jersey Common Pension Fund D increased its holdings in shares of Pepsico by 73.1% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 1,539,600 shares of the company’s stock valued at $172,220,000 after acquiring an additional 650,000 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Pepsico by 14.6% in the 1st quarter. Russell Investments Group Ltd. now owns 3,881,793 shares of the company’s stock valued at $434,310,000 after acquiring an additional 495,542 shares during the last quarter. Finally, Taylor Cottrill Erickson & Associates Inc. increased its holdings in shares of Pepsico by 3.6% in the 1st quarter. Taylor Cottrill Erickson & Associates Inc. now owns 5,222 shares of the company’s stock valued at $584,000 after acquiring an additional 183 shares during the last quarter. Institutional investors own 70.50% of the company’s stock.
PEP has been the topic of a number of recent analyst reports. Cowen reiterated a “buy” rating on shares of Pepsico in a report on Sunday, September 17th. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a report on Tuesday, August 22nd. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Susquehanna Bancshares reiterated a “buy” rating and issued a $135.00 price objective on shares of Pepsico in a report on Monday, October 2nd. Finally, Deutsche Bank reiterated a “buy” rating and issued a $122.00 price objective (down previously from $125.00) on shares of Pepsico in a report on Friday, October 6th. Eight investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $121.96.
Shares of Pepsico, Inc. (NYSE PEP) traded down $0.16 during midday trading on Friday, hitting $116.57. The company had a trading volume of 3,095,602 shares, compared to its average volume of 3,493,230. The firm has a market cap of $165,779.20, a PE ratio of 22.77, a PEG ratio of 3.17 and a beta of 0.68. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 2.32. Pepsico, Inc. has a 1 year low of $101.06 and a 1 year high of $119.39.
Pepsico (NYSE:PEP) last announced its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.05. The firm had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The business’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.40 EPS. research analysts forecast that Pepsico, Inc. will post 5.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Investors of record on Friday, December 1st will be given a $0.805 dividend. The ex-dividend date is Thursday, November 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.76%. Pepsico’s dividend payout ratio (DPR) is presently 66.53%.
In related news, insider Ramon Laguarta sold 21,449 shares of the company’s stock in a transaction dated Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total value of $2,370,328.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is owned by corporate insiders.
Pepsico Company Profile
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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