Aveo Capital Partners LLC Cuts Holdings in Pepsico, Inc. (PEP)

Aveo Capital Partners LLC lowered its position in Pepsico, Inc. (NYSE:PEP) by 41.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,096 shares of the company’s stock after selling 2,151 shares during the quarter. Aveo Capital Partners LLC’s holdings in Pepsico were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Asset Planning Services Ltd. boosted its stake in Pepsico by 66.1% in the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after buying an additional 399 shares in the last quarter. Riggs Asset Managment Co. Inc. boosted its stake in Pepsico by 14.9% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after buying an additional 165 shares in the last quarter. Leith Wheeler Investment Counsel Ltd. purchased a new stake in Pepsico in the first quarter worth approximately $157,000. Millie Capital Management LLC purchased a new stake in Pepsico in the first quarter worth approximately $202,000. Finally, Granite Investment Advisors LLC purchased a new stake in Pepsico in the first quarter worth approximately $204,000. 70.16% of the stock is owned by institutional investors and hedge funds.

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PEP has been the subject of several research reports. Jefferies Group LLC reaffirmed a “buy” rating and issued a $127.00 target price on shares of Pepsico in a research note on Friday, May 19th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 target price on shares of Pepsico in a research note on Thursday, May 25th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Pepsico in a research note on Wednesday, May 31st. BMO Capital Markets lowered Pepsico from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $118.00 to $120.00 in a research note on Wednesday, June 7th. They noted that the move was a valuation call. Finally, BidaskClub lowered Pepsico from a “buy” rating to a “hold” rating in a research note on Saturday, July 1st. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Pepsico currently has an average rating of “Buy” and an average target price of $123.32.

In related news, Chairman Indra K. Nooyi sold 452,830 shares of the stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 733,315 shares in the company, valued at $85,387,198.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mehmood Khan sold 63,396 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the transaction, the executive vice president now owns 174,273 shares of the company’s stock, valued at $20,283,634.47. The disclosure for this sale can be found here. In the last ninety days, insiders sold 898,164 shares of company stock valued at $104,585,929. Insiders own 0.26% of the company’s stock.

Shares of Pepsico, Inc. (PEP) traded up 0.5565% during trading on Monday, hitting $115.6802. The company had a trading volume of 965,124 shares. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $119.39. The stock’s 50-day moving average price is $116.69 and its 200 day moving average price is $114.44. The company has a market capitalization of $164.90 billion, a P/E ratio of 24.4981 and a beta of 0.68.

Pepsico (NYSE:PEP) last posted its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating the 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 firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. During the same quarter last year, the firm earned $1.35 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that Pepsico, Inc. will post $5.15 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.805 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.80%. Pepsico’s dividend payout ratio is presently 68.22%.

About Pepsico

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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Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

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