Stonebridge Capital Management Inc. Reduces Position in Pepsico, Inc. (PEP)
Stonebridge Capital Management Inc. lessened its position in shares of Pepsico, Inc. (NYSE:PEP) by 0.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 73,691 shares of the company’s stock after selling 300 shares during the quarter. Pepsico makes up 3.3% of Stonebridge Capital Management Inc.’s holdings, making the stock its 7th biggest position. Stonebridge Capital Management Inc.’s holdings in Pepsico were worth $8,510,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Accurate Investment Solutions Inc. grew its position in 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 period. Northwest Wealth Management LLC grew its position in 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 period. Willingdon Wealth Management grew its position in 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 period. SRS Capital Advisors Inc. grew its position in Pepsico by 0.7% during the first quarter. SRS Capital Advisors Inc. now owns 2,710 shares of the company’s stock valued at $303,000 after buying an additional 20 shares during the period. Finally, Alexandria Capital LLC grew its position in Pepsico by 0.5% during the first quarter. Alexandria Capital LLC now owns 4,160 shares of the company’s stock valued at $465,000 after buying an additional 21 shares during the period. Institutional investors own 70.31% of the company’s stock.
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Several analysts recently commented on the stock. Zacks Investment Research lowered shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, September 4th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $133.00 target price (down previously from $134.00) on shares of Pepsico in a research report on Thursday, July 6th. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. BMO Capital Markets reiterated a “hold” rating and issued a $120.00 target price on shares of Pepsico in a research report on Wednesday, September 6th. Finally, Cowen and Company reiterated a “buy” rating on shares of Pepsico in a research report on Sunday, September 17th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $121.35.
Pepsico, Inc. (PEP) opened at 111.61 on Friday. The stock has a 50 day moving average of $112.79 and a 200 day moving average of $114.72. The stock has a market capitalization of $158.73 billion, a P/E ratio of 23.06 and a beta of 0.68. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $119.39.
Pepsico (NYSE:PEP) last issued its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.05. The firm 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 59.68%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.40 EPS. On average, analysts expect that Pepsico, Inc. will post $5.22 earnings per share for the current year.
In related news, SVP Marie T. Gallagher sold 41,489 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at approximately $8,878,840.49. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total transaction of $2,370,328.99. The disclosure for this sale can be found here. Over the last three months, insiders sold 919,613 shares of company stock worth $106,956,258. 0.26% of the stock is owned by corporate 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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