Noesis Capital Mangement Corp cut its position in PepsiCo Inc. (NYSE:PEP) by 1.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,592 shares of the company’s stock after selling 1,352 shares during the period. PepsiCo comprises approximately 4.3% of Noesis Capital Mangement Corp’s investment portfolio, making the stock its 2nd largest position. Noesis Capital Mangement Corp’s holdings in PepsiCo were worth $9,597,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Heritage Wealth Advisors raised its stake in shares of PepsiCo by 6.1% in the second quarter. Heritage Wealth Advisors now owns 24,475 shares of the company’s stock worth $2,592,000 after buying an additional 1,400 shares in the last quarter. Bingham Osborn & Scarborough LLC increased its position in PepsiCo by 4.5% in the second quarter. Bingham Osborn & Scarborough LLC now owns 5,961 shares of the company’s stock worth $631,000 after buying an additional 259 shares during the last quarter. Synovus Financial Corp increased its position in PepsiCo by 7.2% in the second quarter. Synovus Financial Corp now owns 181,826 shares of the company’s stock worth $19,288,000 after buying an additional 12,255 shares during the last quarter. Cambridge Trust Co. increased its position in PepsiCo by 4.8% in the second quarter. Cambridge Trust Co. now owns 74,893 shares of the company’s stock worth $7,933,000 after buying an additional 3,407 shares during the last quarter. Finally, Argent Trust Co increased its position in PepsiCo by 13.4% in the second quarter. Argent Trust Co now owns 27,340 shares of the company’s stock worth $2,896,000 after buying an additional 3,241 shares during the last quarter. Hedge funds and other institutional investors own 69.81% of the company’s stock.
PepsiCo Inc. (NYSE:PEP) traded down 0.58% on Monday, reaching $108.14. 2,775,584 shares of the company’s stock were exchanged. PepsiCo Inc. has a one year low of $93.25 and a one year high of $110.94. The firm has a market cap of $155.09 billion, a PE ratio of 23.73 and a beta of 0.46. The firm has a 50 day moving average price of $107.19 and a 200 day moving average price of $105.12.
PepsiCo (NYSE:PEP) last announced its earnings results on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.08. PepsiCo had a return on equity of 57.14% and a net margin of 10.74%. The firm had revenue of $16 billion for the quarter. During the same quarter last year, the business earned $1.35 EPS. The company’s quarterly revenue was down 1.9% on a year-over-year basis. On average, equities analysts anticipate that PepsiCo Inc. will post $4.79 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were given a dividend of $0.7525 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $3.01 dividend on an annualized basis and a dividend yield of 2.77%. PepsiCo’s dividend payout ratio (DPR) is 66.01%.
A number of research firms recently issued reports on PEP. Deutsche Bank AG reissued a “buy” rating and issued a $120.00 price objective on shares of PepsiCo in a report on Monday. BMO Capital Markets reissued an “outperform” rating and issued a $120.00 price objective (up previously from $116.00) on shares of PepsiCo in a report on Friday. Vetr downgraded shares of PepsiCo from a “hold” rating to a “sell” rating and set a $99.50 price objective on the stock. in a report on Wednesday, June 29th. Jefferies Group reissued a “buy” rating and issued a $122.00 price objective (down previously from $124.00) on shares of PepsiCo in a report on Friday. Finally, Argus raised their price objective on shares of PepsiCo from $116.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. PepsiCo currently has a consensus rating of “Buy” and a consensus price target of $112.25.
In other news, EVP Mehmood Khan sold 51,137 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $107.30, for a total transaction of $5,487,000.10. Following the transaction, the executive vice president now owns 164,464 shares in the company, valued at approximately $17,646,987.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ramon Laguarta sold 17,221 shares of the stock in a transaction that occurred on Monday, July 11th. The shares were 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 owns 142,325 shares in the company, valued at approximately $15,409,527.75. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.
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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