Cambridge Investment Research Advisors Inc. increased its stake in PepsiCo Inc. (NYSE:PEP) by 13.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 124,549 shares of the company’s stock after buying an additional 15,035 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in PepsiCo were worth $13,195,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of PEP. Wellington Management Group LLP raised its stake in PepsiCo by 40.9% in the first quarter. Wellington Management Group LLP now owns 21,691,078 shares of the company’s stock worth $2,222,902,000 after buying an additional 6,297,861 shares during the period. Bank of Montreal Can bought a new stake in PepsiCo during the second quarter worth $519,379,000. Emerald Acquisition Ltd. bought a new stake in PepsiCo during the second quarter worth $370,675,000. Renaissance Technologies LLC raised its stake in PepsiCo by 108.4% in the first quarter. Renaissance Technologies LLC now owns 3,729,062 shares of the company’s stock worth $382,154,000 after buying an additional 1,940,000 shares during the period. Finally, State Street Corp raised its stake in PepsiCo by 1.5% in the first quarter. State Street Corp now owns 58,107,763 shares of the company’s stock worth $5,954,891,000 after buying an additional 860,005 shares during the period. Institutional investors own 69.81% of the company’s stock.
Shares of PepsiCo Inc. (NYSE:PEP) traded up 0.75% on Thursday, reaching $108.19. The company’s stock had a trading volume of 5,784,441 shares. The firm has a 50 day moving average price of $107.22 and a 200-day moving average price of $105.04. The stock has a market cap of $155.70 billion, a PE ratio of 30.57 and a beta of 0.48. PepsiCo Inc. has a 12-month low of $92.53 and a 12-month high of $110.94.
PepsiCo (NYSE:PEP) last released its quarterly earnings results on Thursday, September 29th. The company reported $1.40 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.08. The firm earned $16 billion during the quarter, compared to analyst estimates of $15.87 billion. PepsiCo had a return on equity of 54.91% and a net margin of 8.34%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.35 EPS. Equities research analysts expect that PepsiCo Inc. will post $4.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be given a $0.7525 dividend. This represents a $3.01 annualized dividend 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 brokerages recently commented on PEP. Vetr lowered PepsiCo from a “buy” rating to a “hold” rating and set a $104.63 price target for the company. in a research note on Wednesday, June 1st. Susquehanna reaffirmed a “neutral” rating on shares of PepsiCo in a research note on Tuesday, June 14th. Zacks Investment Research raised PepsiCo from a “hold” rating to a “buy” rating and set a $116.00 price target for the company in a research note on Tuesday, June 21st. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $104.00 price target (down previously from $105.00) on shares of PepsiCo in a research note on Wednesday, June 29th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $119.00 price target on shares of PepsiCo in a research note on Wednesday, June 29th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $111.34.
In other news, CEO Albert P. Carey sold 170,003 shares of the business’s stock in a transaction on Tuesday, July 12th. The stock was 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 directly owns 306,138 shares of the company’s stock, valued at approximately $33,310,875.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mehmood Khan sold 51,137 shares of the business’s 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 directly owns 164,464 shares of the company’s stock, valued at $17,646,987.20. The disclosure for this sale can be found here. 0.33% of the stock is 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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