Jag Capital Management LLC cut its position in PepsiCo Inc. (NYSE:PEP) by 5.9% during the second quarter, Holdings Channel reports. The firm owned 18,799 shares of the company’s stock after selling 1,184 shares during the period. Jag Capital Management LLC’s holdings in PepsiCo were worth $1,992,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of the company. D. Scott Neal Inc. boosted its position in PepsiCo by 8.1% in the second quarter. D. Scott Neal Inc. now owns 944 shares of the company’s stock worth $100,000 after buying an additional 71 shares in the last quarter. Piershale Financial Group Inc. boosted its position in PepsiCo by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock worth $106,000 after buying an additional 4 shares in the last quarter. Gradient Investments LLC boosted its position in PepsiCo by 7.0% in the second quarter. Gradient Investments LLC now owns 1,530 shares of the company’s stock worth $162,000 after buying an additional 100 shares in the last quarter. Tiemann Investment Advisors LLC purchased a new position in PepsiCo during the first quarter worth approximately $200,000. Finally, Augustine Asset Management Inc. purchased a new position in PepsiCo during the second quarter worth approximately $201,000. Hedge funds and other institutional investors own 70.06% of the company’s stock.
Shares of PepsiCo Inc. (NYSE:PEP) traded up 0.22% on Monday, reaching $106.22. 3,119,298 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $106.90 and a 200 day moving average of $105.42. PepsiCo Inc. has a one year low of $93.25 and a one year high of $110.94. The firm has a market capitalization of $152.34 billion, a P/E ratio of 23.30 and a beta of 0.46.
PepsiCo (NYSE:PEP) last announced its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.08. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. The business earned $16 billion during the quarter. During the same quarter in the prior year, the business earned $1.35 earnings per share. PepsiCo’s revenue was down 1.9% on a year-over-year basis. On average, equities research analysts predict that PepsiCo Inc. will post $4.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were paid a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Wednesday, August 31st. PepsiCo’s payout ratio is 66.01%.
A number of equities analysts recently commented on the stock. Deutsche Bank AG reaffirmed a “buy” rating and set a $120.00 price target on shares of PepsiCo in a research note on Monday, October 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $121.00 price target on shares of PepsiCo in a research note on Friday, September 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $120.00 price target (up from $116.00) on shares of PepsiCo in a research note on Friday, September 30th. Bank of America Corp. reissued a “buy” rating and issued a $120.00 price objective on shares of PepsiCo in a research report on Friday, September 30th. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $122.00 price objective on shares of PepsiCo in a research report on Friday, September 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $113.68.
In other news, CEO Albert P. Carey sold 170,003 shares of the firm’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $108.81, for a total value of $18,498,026.43. Following the completion of the transaction, the chief executive officer now owns 306,138 shares of the company’s stock, valued at $33,310,875.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mehmood Khan sold 51,137 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $107.30, for a total transaction of $5,487,000.10. Following the completion of the transaction, the executive vice president now directly owns 164,464 shares of the company’s stock, valued at approximately $17,646,987.20. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by 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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