Trust Co. of Toledo NA OH Sells 758 Shares of Pepsico, Inc. (PEP)
Trust Co. of Toledo NA OH reduced its holdings in Pepsico, Inc. (NYSE:PEP) by 1.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 47,070 shares of the company’s stock after selling 758 shares during the period. Pepsico accounts for about 1.4% of Trust Co. of Toledo NA OH’s portfolio, making the stock its 14th largest holding. Trust Co. of Toledo NA OH’s holdings in Pepsico were worth $5,436,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of PEP. Koshinski Asset Management Inc. boosted its stake in shares of Pepsico by 4.0% during the 2nd quarter. Koshinski Asset Management Inc. now owns 6,907 shares of the company’s stock worth $798,000 after buying an additional 265 shares during the last quarter. State of Wisconsin Investment Board grew its holdings in shares of Pepsico by 13.3% in the 1st quarter. State of Wisconsin Investment Board now owns 1,440,520 shares of the company’s stock valued at $161,137,000 after acquiring an additional 169,049 shares in the last quarter. Westpac Banking Corp grew its holdings in shares of Pepsico by 7.8% in the 1st quarter. Westpac Banking Corp now owns 209,821 shares of the company’s stock valued at $22,373,000 after acquiring an additional 15,215 shares in the last quarter. HPM Partners LLC bought a new position in shares of Pepsico in the 1st quarter valued at about $8,946,000. Finally, Hays Advisory LLC grew its holdings in shares of Pepsico by 11.6% in the 1st quarter. Hays Advisory LLC now owns 2,244 shares of the company’s stock valued at $251,000 after acquiring an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 70.06% of the company’s stock.
In related news, CEO Indra K. Nooyi sold 340,449 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.42, for a total value of $39,635,072.58. Following the transaction, the chief executive officer now directly owns 733,315 shares of the company’s stock, valued at approximately $85,372,532.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Indra K. Nooyi sold 452,830 shares of the business’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the completion of the transaction, the chairman now directly owns 733,315 shares in the company, valued at $85,387,198.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 898,164 shares of company stock valued at $104,585,929. Insiders own 0.26% of the company’s stock.
Several brokerages recently commented on PEP. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research note on Tuesday, August 22nd. BMO Capital Markets lowered Pepsico from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $118.00 to $120.00 in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Credit Suisse Group lowered Pepsico from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $126.00 to $124.00 in a research report on Friday, September 8th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $115.00 price objective 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 assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $122.38.
Shares of Pepsico, Inc. (NYSE PEP) traded up 0.10% on Tuesday, reaching $109.23. 2,188,048 shares of the company were exchanged. The firm has a market capitalization of $155.71 billion, a PE ratio of 23.13 and a beta of 0.68. 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 $115.11 and its 200 day moving average is $114.82. Pepsico also was the target of unusually large options trading on Monday. Stock investors bought 5,616 put options on the company. This represents an increase of 248% compared to the typical daily volume of 1,616 put options.
Pepsico (NYSE:PEP) last posted its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The business had revenue of $15.71 billion for the quarter, compared to analysts’ expectations of $15.57 billion. During the same quarter in the previous year, the firm earned $1.35 earnings per share. The business’s revenue was up 2.0% on a year-over-year basis. Analysts forecast that Pepsico, Inc. will post $5.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 1st were given a dividend of $0.805 per share. This represents a $3.22 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Wednesday, August 30th. Pepsico’s dividend payout ratio is presently 68.22%.
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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