Weiss Multi Strategy Advisers LLC Takes Position in Pepsico, Inc. (PEP)
Weiss Multi Strategy Advisers LLC purchased a new position in shares of Pepsico, Inc. (NYSE:PEP) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 56,097 shares of the company’s stock, valued at approximately $6,275,000.
Other institutional investors also recently made changes to their positions in the company. Asset Planning Services Ltd. raised its position in shares of Pepsico by 66.1% in the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after buying an additional 399 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Pepsico during the fourth quarter worth $125,000. Riggs Asset Managment Co. Inc. raised its position in shares of Pepsico by 14.9% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after buying an additional 165 shares during the period. Israel Discount Bank of New York GFN bought a new position in shares of Pepsico during the fourth quarter worth $150,000. Finally, Leith Wheeler Investment Counsel Ltd. bought a new position in shares of Pepsico during the first quarter worth $157,000. Institutional investors own 70.52% of the company’s stock.
Pepsico, Inc. (NYSE:PEP) traded up 0.6456% during midday trading on Friday, hitting $117.1314. 592,751 shares of the stock traded hands. The stock has a market cap of $166.97 billion, a PE ratio of 24.8055 and a beta of 0.67. The company has a 50-day moving average of $115.86 and a 200-day moving average of $112.72. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $118.24.
Pepsico (NYSE:PEP) last released its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.10. The company had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $1.35 EPS. On average, equities analysts expect that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.
The firm also recently disclosed 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. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, August 30th. Pepsico’s payout ratio is 68.22%.
A number of equities analysts have weighed in on PEP shares. Jefferies Group LLC lifted their price target on shares of Pepsico from $120.00 to $127.00 and gave the company a “buy” rating in a report on Wednesday, April 19th. Credit Suisse Group reiterated a “buy” rating on shares of Pepsico in a report on Thursday, April 27th. BMO Capital Markets reiterated a “buy” rating and issued a $115.00 price target on shares of Pepsico in a report on Thursday, April 27th. Vetr upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $125.54 price target on the stock in a report on Wednesday, April 26th. Finally, Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a report on Friday, July 14th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Pepsico presently has a consensus rating of “Buy” and an average price target of $123.40.
In other news, CEO Indra K. Nooyi sold 340,449 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marie T. Gallagher sold 41,489 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the transaction, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The disclosure for this sale can be found here. Insiders have sold a total of 898,164 shares of company stock valued at $104,585,929 over the last ninety days. 0.26% of the stock is owned by 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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