Ballentine Partners LLC decreased its position in shares of Pepsico, Inc. (NYSE:PEP) by 38.4% during the first quarter, Holdings Channel reports. The firm owned 32,561 shares of the company’s stock after selling 20,321 shares during the period. Ballentine Partners LLC’s holdings in Pepsico were worth $3,641,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gierl Augustine Investment Management Inc increased its position in shares of Pepsico by 0.8% in the first quarter. Gierl Augustine Investment Management Inc now owns 1,846 shares of the company’s stock worth $207,000 after buying an additional 14 shares during the period. Willingdon Wealth Management increased its position in shares of Pepsico by 0.3% in the first quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock worth $714,000 after buying an additional 16 shares during the period. Univest Corp of Pennsylvania increased its position in shares of Pepsico by 0.7% in the first quarter. Univest Corp of Pennsylvania now owns 2,350 shares of the company’s stock worth $263,000 after buying an additional 17 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Pepsico by 0.7% in the first quarter. SRS Capital Advisors Inc. now owns 2,710 shares of the company’s stock worth $303,000 after buying an additional 20 shares during the period. Finally, Alexandria Capital LLC increased its position in shares of Pepsico by 0.5% in the first quarter. Alexandria Capital LLC now owns 4,160 shares of the company’s stock worth $465,000 after buying an additional 21 shares during the period. Institutional investors own 70.19% of the company’s stock.
Shares of Pepsico, Inc. (NYSE:PEP) traded down 0.62% during trading on Friday, reaching $117.66. The company’s stock had a trading volume of 1,338,338 shares. The company has a market capitalization of $167.73 billion, a PE ratio of 24.92 and a beta of 0.67. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $119.39. The stock has a 50 day moving average of $116.09 and a 200-day moving average of $113.22. Pepsico also saw some unusual options trading on Wednesday. Traders bought 1,176 call options on the company. This represents an increase of approximately 536% compared to the average volume of 185 call options.
Pepsico (NYSE:PEP) last posted its earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $15.57 billion. During the same quarter in the previous year, the business earned $1.35 earnings per share. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts expect that Pepsico, Inc. will post $5.16 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $0.805 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a yield of 2.72%. Pepsico’s dividend payout ratio is currently 68.22%.
A number of brokerages recently issued reports on PEP. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday. BMO Capital Markets downgraded Pepsico from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $118.00 to $120.00 in a research note on Wednesday, June 7th. They noted that the move was a valuation call. Zacks Investment Research downgraded Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Royal Bank Of Canada reiterated a “hold” rating and set a $115.00 price objective on shares of Pepsico in a research note on Thursday, May 25th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $127.00 price objective on shares of Pepsico in a research note on Friday, May 19th. Five research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Pepsico currently has an average rating of “Buy” and a consensus price target of $123.40.
In other Pepsico news, Chairman Indra K. Nooyi sold 452,830 shares of Pepsico stock in a transaction on Tuesday, July 25th. The stock was sold at an average price of $116.44, for a total value of $52,727,525.20. Following the sale, the chairman now owns 733,315 shares in the company, valued at $85,387,198.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marie T. Gallagher sold 41,489 shares of Pepsico stock in a transaction on Monday, August 7th. The shares were sold at an average price of $116.77, for a total value of $4,844,670.53. Following the completion of the sale, the senior vice president now owns 76,037 shares in the company, valued at approximately $8,878,840.49. The disclosure for this sale can be found here. Insiders sold 898,164 shares of company stock worth $104,585,929 in the last 90 days. Company insiders own 0.26% of the company’s stock.
Pepsico Company Profile
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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