Regentatlantic Capital LLC lowered its stake in PepsiCo Inc. (NYSE:PEP) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 12,736 shares of the company’s stock after selling 529 shares during the period. Regentatlantic Capital LLC’s holdings in PepsiCo were worth $1,349,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in PEP. Piershale Financial Group Inc. raised 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 valued at $106,000 after buying an additional 4 shares during the period. Gradient Investments LLC raised its position in PepsiCo by 7.0% in the second quarter. Gradient Investments LLC now owns 1,530 shares of the company’s stock valued at $162,000 after buying an additional 100 shares during the period. Verus Financial Partners Inc. bought a new position in PepsiCo during the second quarter valued at $201,000. Augustine Asset Management Inc. bought a new position in PepsiCo during the second quarter valued at $201,000. Finally, Tiemann Investment Advisors LLC bought a new position in PepsiCo during the first quarter valued at $200,000. Institutional investors and hedge funds own 69.81% of the company’s stock.
PepsiCo Inc. (NYSE:PEP) traded up 0.94% on Friday, reaching $108.77. 7,173,287 shares of the company traded hands. PepsiCo Inc. has a 52-week low of $93.25 and a 52-week high of $110.94. The stock has a 50-day moving average of $107.19 and a 200 day moving average of $105.12. The company has a market capitalization of $156.54 billion, a PE ratio of 30.73 and a beta of 0.48.
PepsiCo (NYSE:PEP) last released its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.08. The firm had revenue of $16 billion for the quarter. PepsiCo had a net margin of 8.34% and a return on equity of 54.91%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.35 earnings per share. On average, equities analysts forecast that PepsiCo Inc. will post $4.79 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were issued a $0.7525 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $3.01 annualized dividend and a yield of 2.77%. PepsiCo’s dividend payout ratio is currently 84.79%.
Several equities analysts have weighed in on the company. BMO Capital Markets restated an “outperform” rating on shares of PepsiCo in a report on Friday, July 15th. Zacks Investment Research lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Argus raised their target price on PepsiCo from $116.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, July 13th. Morgan Stanley restated an “overweight” rating and set a $121.00 target price on shares of PepsiCo in a report on Friday. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $118.00 price target on shares of PepsiCo in a research report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $111.39.
In other PepsiCo news, EVP Mehmood Khan sold 51,137 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $107.30, for a total value of $5,487,000.10. Following 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Albert P. Carey sold 170,003 shares of the stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $108.81, for a total transaction of $18,498,026.43. Following the completion of the transaction, the chief executive officer now directly owns 306,138 shares in the company, valued at $33,310,875.78. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.
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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