River Road Asset Management LLC cut its stake in PepsiCo Inc. (NYSE:PEP) by 22.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 391,196 shares of the company’s stock after selling 112,838 shares during the period. River Road Asset Management LLC’s holdings in PepsiCo were worth $41,443,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its stake 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 valued at $2,222,902,000 after buying an additional 6,297,861 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of PepsiCo during the second quarter valued at approximately $519,379,000. Emerald Acquisition Ltd. bought a new stake in PepsiCo during the second quarter valued at about $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 valued at $382,154,000 after buying an additional 1,940,000 shares in the last quarter. 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 valued at $5,954,891,000 after buying an additional 860,005 shares in the last quarter. 69.81% of the stock is owned by institutional investors.
Shares of PepsiCo Inc. (NYSE:PEP) traded down 0.41% on Friday, reaching $105.96. 2,124,636 shares of the company’s stock traded hands. The firm has a market capitalization of $151.97 billion, a P/E ratio of 23.25 and a beta of 0.46. The company’s 50-day moving average is $107.02 and its 200-day moving average is $105.28. PepsiCo Inc. has a 52 week low of $93.25 and a 52 week high of $110.94.
PepsiCo (NYSE:PEP) last posted its earnings results on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.08. The firm earned $16 billion during the quarter. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. PepsiCo’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.35 earnings per share. Equities research analysts anticipate that PepsiCo Inc. will post $4.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend was Wednesday, August 31st. PepsiCo’s dividend payout ratio (DPR) is presently 66.01%.
Several analysts have issued reports on PEP shares. Vetr raised 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. Argus boosted their price target on PepsiCo from $116.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, July 13th. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a report on Wednesday, September 7th. Jefferies Group reissued a “buy” rating and set a $119.00 price target on shares of PepsiCo in a report on Wednesday, June 29th. Finally, Credit Suisse Group AG started coverage on PepsiCo in a report on Thursday, September 15th. They set an “outperform” rating and a $121.00 price target for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the company. PepsiCo presently has an average rating of “Buy” and an average price target of $112.46.
In other PepsiCo news, CEO Laxman Narasimhan sold 3,219 shares of PepsiCo stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $109.11, for a total value of $351,225.09. Following the completion of the sale, the chief executive officer now directly owns 97,057 shares in the company, valued at $10,589,889.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Mehmood Khan sold 51,137 shares of PepsiCo 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 $17,646,987.20. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company 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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