Zions Bancorporation Cuts Stake in Pepsico, Inc. (NYSE:PEP)
Zions Bancorporation lowered its stake in Pepsico, Inc. (NYSE:PEP) by 23.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,879 shares of the company’s stock after selling 5,344 shares during the period. Zions Bancorporation’s holdings in Pepsico were worth $2,001,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the company. Shepherd Financial Partners LLC acquired a new position in Pepsico during the fourth quarter valued at approximately $832,000. United Capital Financial Advisers LLC increased its position in Pepsico by 0.8% in the fourth quarter. United Capital Financial Advisers LLC now owns 589,702 shares of the company’s stock valued at $61,701,000 after buying an additional 4,722 shares during the last quarter. Cigna Investments Inc. New acquired a new position in Pepsico during the fourth quarter valued at approximately $7,843,000. L & S Advisors Inc acquired a new position in Pepsico during the fourth quarter valued at approximately $471,000. Finally, Princeton Portfolio Strategies Group LLC increased its position in Pepsico by 0.3% in the fourth quarter. Princeton Portfolio Strategies Group LLC now owns 46,907 shares of the company’s stock valued at $4,908,000 after buying an additional 150 shares during the last quarter. 70.19% of the stock is currently owned by hedge funds and other institutional investors.
Pepsico, Inc. (NYSE:PEP) traded up 0.88% during midday trading on Monday, reaching $117.54. 439,509 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $115.87 and a 200 day moving average price of $112.81. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $118.24. The company has a market cap of $167.55 billion, a price-to-earnings ratio of 24.89 and a beta of 0.67.
Pepsico (NYSE:PEP) last released its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.10. The company had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. Pepsico’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.35 EPS. Analysts anticipate that Pepsico, Inc. will post $5.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.805 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.76%. Pepsico’s dividend payout ratio is presently 68.22%.
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Several research firms have commented on PEP. Stifel Nicolaus reissued a “hold” rating on shares of Pepsico in a research report on Wednesday, May 31st. BMO Capital Markets downgraded shares of Pepsico from an “outperform” rating to a “market perform” rating and increased their target price 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. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Royal Bank Of Canada reissued a “hold” rating and set a $115.00 target price on shares of Pepsico in a research report on Thursday, May 25th. Finally, BidaskClub downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Six equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $123.40.
In related news, SVP Marie T. Gallagher sold 41,489 shares of the company’s 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 transaction, the senior vice president now owns 76,037 shares in the company, valued at approximately $8,878,840.49. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Mehmood Khan sold 63,396 shares of the company’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the transaction, the executive vice president now owns 174,273 shares in the company, valued at approximately $20,283,634.47. The disclosure for this sale can be found here. Insiders have sold a total of 898,164 shares of company stock worth $104,585,929 over the last 90 days. 0.26% of the stock is owned by company 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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