Endurance Wealth Management Inc. raised its stake in PepsiCo Inc. (NYSE:PEP) by 1.9% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,438 shares of the company’s stock after buying an additional 1,200 shares during the period. PepsiCo comprises approximately 1.3% of Endurance Wealth Management Inc.’s portfolio, making the stock its 28th largest position. Endurance Wealth Management Inc.’s holdings in PepsiCo were worth $6,827,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of PEP. Wellington Management Group LLP increased its position in shares of 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 position in shares of PepsiCo during the second quarter worth $519,379,000. Emerald Acquisition Ltd. bought a new position in shares of PepsiCo during the second quarter worth $370,675,000. Renaissance Technologies LLC increased its position in shares of 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 increased its position in shares of 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. 70.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of PepsiCo Inc. (NYSE:PEP) traded up 0.29% during trading on Monday, hitting $106.30. The company had a trading volume of 747,940 shares. PepsiCo Inc. has a 52 week low of $93.25 and a 52 week high of $110.94. The stock has a market capitalization of $152.45 billion, a P/E ratio of 23.32 and a beta of 0.46. The firm’s 50 day moving average is $106.96 and its 200-day moving average is $105.32.
PepsiCo (NYSE:PEP) last issued its quarterly earnings data on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.08. The business had revenue of $16 billion for the quarter. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. The firm’s revenue was down 1.9% on a year-over-year basis. During the same period last year, the company earned $1.35 earnings per share. Equities research analysts anticipate that PepsiCo Inc. will post $4.79 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Wednesday, August 31st. PepsiCo’s payout ratio is 66.01%.
PEP has been the topic of a number of research analyst reports. Vetr upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 target price on the stock in a research note on Wednesday, September 7th. Argus upped their price target on PepsiCo from $116.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, July 13th. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating in a research report on Wednesday, September 7th. Jefferies Group reaffirmed a “buy” rating and set a $119.00 price objective on shares of PepsiCo in a report on Wednesday, June 29th. Finally, Credit Suisse Group AG began coverage on shares of PepsiCo in a report on Thursday, September 15th. They set an “outperform” rating and a $121.00 price objective on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $113.68.
In related news, CEO Laxman Narasimhan sold 3,219 shares of the company’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $109.11, for a total transaction of $351,225.09. Following the sale, the chief executive officer now owns 97,057 shares of the company’s stock, valued at $10,589,889.27. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Mehmood Khan sold 51,137 shares of the company’s stock in a transaction dated 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 sale, 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. Corporate insiders own 0.33% of the company’s stock.
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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