Evermay Wealth Management LLC cut its position in shares of PepsiCo Inc. (NYSE:PEP) by 9.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,122 shares of the company’s stock after selling 1,000 shares during the period. PepsiCo comprises about 0.5% of Evermay Wealth Management LLC’s holdings, making the stock its 21st largest position. Evermay Wealth Management LLC’s holdings in PepsiCo were worth $966,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in PepsiCo by 13.0% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 328,023 shares of the company’s stock worth $33,616,000 after buying an additional 37,754 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of PepsiCo by 43.5% in the first quarter. Capstone Asset Management Co. now owns 253,459 shares of the company’s stock worth $25,974,000 after buying an additional 76,876 shares in the last quarter. Integrated Investment Consultants LLC raised its position in shares of PepsiCo by 4.9% in the first quarter. Integrated Investment Consultants LLC now owns 4,312 shares of the company’s stock worth $453,000 after buying an additional 200 shares in the last quarter. Capital Asset Advisory Services LLC raised its position in shares of PepsiCo by 3.2% in the first quarter. Capital Asset Advisory Services LLC now owns 4,468 shares of the company’s stock worth $458,000 after buying an additional 138 shares in the last quarter. Finally, Prospera Financial Services Inc raised its position in shares of PepsiCo by 10.7% in the first quarter. Prospera Financial Services Inc now owns 10,960 shares of the company’s stock worth $1,123,000 after buying an additional 1,057 shares in the last quarter. 69.81% of the stock is currently owned by institutional investors and hedge funds.
PepsiCo Inc. (NYSE:PEP) traded down 0.46% during trading on Wednesday, hitting $107.00. The stock had a trading volume of 2,850,714 shares. The firm’s 50 day moving average is $107.24 and its 200 day moving average is $105.03. The firm has a market cap of $153.99 billion, a price-to-earnings ratio of 30.23 and a beta of 0.48. PepsiCo Inc. has a 1-year low of $92.53 and a 1-year high of $110.94.
PepsiCo (NYSE:PEP) last issued its earnings results on Thursday, July 7th. The company reported $1.35 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.30 by $0.05. The business had revenue of $15.40 billion for the quarter. PepsiCo had a return on equity of 54.91% and a net margin of 8.34%. The business’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.32 earnings per share. On average, analysts anticipate that PepsiCo Inc. will post $4.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend is Wednesday, August 31st. PepsiCo’s payout ratio is 84.79%.
A number of research analysts recently weighed in on the company. Vetr lowered PepsiCo from a “buy” rating to a “hold” rating and set a $104.63 price objective on the stock. in a report on Wednesday, June 1st. Zacks Investment Research lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $118.00 price objective on shares of PepsiCo in a report on Wednesday, August 10th. BMO Capital Markets reaffirmed an “outperform” rating on shares of PepsiCo in a report on Friday, July 15th. Finally, Credit Agricole SA reaffirmed an “outperform” rating on shares of PepsiCo in a report on Monday, August 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $106.41.
In related news, CEO Ramon Laguarta sold 17,221 shares of PepsiCo stock in a transaction on Monday, July 11th. The stock was sold at an average price of $108.27, for a total value of $1,864,517.67. Following the transaction, the chief executive officer now directly owns 142,325 shares in the company, valued at approximately $15,409,527.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mehmood Khan sold 51,137 shares of PepsiCo stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $107.30, for a total value of $5,487,000.10. Following the completion of the transaction, the executive vice president now owns 164,464 shares in the company, valued at $17,646,987.20. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.
PepsiCo Company Profile
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.
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