Ballentine Partners LLC cut its stake in PepsiCo Inc. (NYSE:PEP) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,289 shares of the company’s stock after selling 2,023 shares during the period. PepsiCo accounts for approximately 0.5% of Ballentine Partners LLC’s investment portfolio, making the stock its 24th largest position. Ballentine Partners LLC’s holdings in PepsiCo were worth $5,434,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Emerald Acquisition Ltd. bought a new stake in PepsiCo during the second quarter valued at about $370,675,000. Intrust Bank NA increased its position in PepsiCo by 8.3% in the second quarter. Intrust Bank NA now owns 52,575 shares of the company’s stock worth $5,569,000 after buying an additional 4,019 shares during the last quarter. Kleinwort Benson Investors Dublin Ltd acquired a new position in PepsiCo during the second quarter worth approximately $218,000. New Mexico Educational Retirement Board increased its position in PepsiCo by 4.3% in the second quarter. New Mexico Educational Retirement Board now owns 168,285 shares of the company’s stock worth $17,828,000 after buying an additional 7,000 shares during the last quarter. Finally, Navellier & Associates Inc increased its position in PepsiCo by 4.3% in the second quarter. Navellier & Associates Inc now owns 16,059 shares of the company’s stock worth $1,701,000 after buying an additional 659 shares during the last quarter. Institutional investors own 69.81% of the company’s stock.
PepsiCo Inc. (NYSE:PEP) traded down 0.45% during mid-day trading on Friday, reaching $107.34. 3,214,757 shares of the company’s stock traded hands. The stock has a market cap of $154.48 billion, a P/E ratio of 30.33 and a beta of 0.48. PepsiCo Inc. has a 12 month low of $92.20 and a 12 month high of $110.94. The company has a 50 day moving average price of $107.34 and a 200-day moving average price of $104.81.
PepsiCo (NYSE:PEP) last released its earnings results on Thursday, July 7th. The company reported $1.35 earnings per share for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. The business earned $15.40 billion during the quarter. PepsiCo had a net margin of 8.34% and a return on equity of 54.91%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.32 EPS. On average, analysts anticipate that PepsiCo Inc. will post $4.76 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be given a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date is Wednesday, August 31st. PepsiCo’s dividend payout ratio is presently 84.79%.
A number of research firms have recently commented on PEP. Bank of America Corp. reaffirmed a “buy” rating and set a $120.00 price objective on shares of PepsiCo in a report on Thursday. Zacks Investment Research downgraded shares of PepsiCo from a “hold” rating to a “sell” rating in a report on Thursday. Credit Suisse Group AG initiated coverage on shares of PepsiCo in a report on Thursday, September 15th. They set an “outperform” rating and a $121.00 price target for the company. Vetr raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 price target for the company in a report on Wednesday, September 7th. Finally, Credit Agricole SA reissued an “outperform” rating on shares of PepsiCo in a report on Monday, August 22nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $111.34.
In other news, 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 sale, the executive vice president now owns 164,464 shares of the company’s stock, valued at approximately $17,646,987.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Marie T. Gallagher sold 13,586 shares of the firm’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $109.01, for a total transaction of $1,481,009.86. Following the sale, the senior vice president now directly owns 58,183 shares of the company’s stock, valued at approximately $6,342,528.83. The disclosure for this sale can be found here. Company 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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