Tortoise Investment Management LLC Has $519,000 Holdings in Pepsico, Inc. (PEP)
Tortoise Investment Management LLC raised its stake in Pepsico, Inc. (NYSE:PEP) by 13.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,493 shares of the company’s stock after purchasing an additional 545 shares during the period. Tortoise Investment Management LLC’s holdings in Pepsico were worth $519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of PEP. Barnett & Company Inc. raised its position in shares of Pepsico by 270.4% during the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after acquiring an additional 657 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its position in shares of Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after acquiring an additional 165 shares in the last quarter. Millie Capital Management LLC acquired a new stake in shares of Pepsico during the 1st quarter worth about $202,000. Spectrum Management Group Inc. acquired a new stake in shares of Pepsico during the 1st quarter worth about $205,000. Finally, Windsor Financial Group LLC acquired a new stake in shares of Pepsico during the 1st quarter worth about $205,000. 70.54% of the stock is currently owned by institutional investors.
In related news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is owned by insiders.
PEP has been the topic of a number of research reports. BidaskClub downgraded Pepsico from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded 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. Susquehanna Bancshares Inc restated a “buy” rating and set a $135.00 price target on shares of Pepsico in a research note on Monday, October 2nd. Credit Suisse Group restated a “hold” rating and set a $122.00 price target (down previously from $124.00) on shares of Pepsico in a research note on Thursday, October 5th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $115.00 price target on shares of Pepsico in a research note on Wednesday, September 6th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Pepsico has an average rating of “Buy” and a consensus target price of $121.35.
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Shares of Pepsico, Inc. (PEP) opened at $115.76 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.35 and a debt-to-equity ratio of 2.32. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $119.39. The firm has a market capitalization of $162,181.19, a P/E ratio of 22.27, a P/E/G ratio of 3.10 and a beta of 0.66.
Pepsico (NYSE:PEP) last posted its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.05. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The firm had revenue of $16.24 billion for the quarter, compared to the consensus estimate of $16.35 billion. During the same period in the previous year, the business earned $1.40 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. research analysts anticipate that Pepsico, Inc. will post 5.22 EPS for the current year.
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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