Oakworth Capital Inc. increased its position in PepsiCo Inc. (NYSE:PEP) by 4.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,591 shares of the company’s stock after buying an additional 379 shares during the period. Oakworth Capital Inc.’s holdings in PepsiCo were worth $970,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of PEP. D. Scott Neal Inc. boosted its position in PepsiCo by 8.1% in the second quarter. D. Scott Neal Inc. now owns 944 shares of the company’s stock valued at $100,000 after buying an additional 71 shares during the period. Piershale Financial Group Inc. boosted 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 boosted 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. acquired a new position in PepsiCo during the second quarter valued at $201,000. Finally, Augustine Asset Management Inc. acquired a new position in PepsiCo during the second quarter valued at $201,000. 70.06% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PepsiCo Inc. (NYSE:PEP) traded up 0.86% on Friday, hitting $106.83. The company had a trading volume of 4,788,606 shares. The company has a market capitalization of $153.21 billion, a P/E ratio of 23.44 and a beta of 0.46. PepsiCo Inc. has a 12-month low of $93.25 and a 12-month high of $110.94. The firm has a 50-day moving average price of $106.69 and a 200 day moving average price of $105.47.
PepsiCo (NYSE:PEP) last posted its quarterly earnings results on Thursday, September 29th. The company reported $1.40 earnings per share 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 return on equity of 56.16% and a net margin of 10.74%. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.35 earnings per share. Equities analysts expect that PepsiCo Inc. will post $4.79 EPS for the current year.
Several equities analysts have weighed in on PEP shares. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $104.00 target price (down previously from $105.00) on shares of PepsiCo in a research note on Wednesday, June 29th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $118.00 target price on shares of PepsiCo in a research note on Wednesday, August 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $121.00 target price on shares of PepsiCo in a research note on Friday, September 30th. Credit Agricole SA reiterated an “outperform” rating on shares of PepsiCo in a report on Monday, August 22nd. Finally, Bank of America Corp. reissued a “buy” rating and issued a $120.00 price target on shares of PepsiCo in a research note on Thursday, September 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have assigned a buy rating to the stock. PepsiCo presently has an average rating of “Buy” and a consensus price target of $113.68.
In other PepsiCo news, EVP Mehmood Khan sold 51,137 shares of the firm’s stock in a transaction that occurred 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 in the company, valued at $17,646,987.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is 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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