Olstein Capital Management L.P. maintained its position in Pepsico, Inc. (NYSE:PEP) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,000 shares of the company’s stock at the close of the second quarter. Olstein Capital Management L.P.’s holdings in Pepsico were worth $4,389,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Sanders Capital LLC purchased a new stake in shares of Pepsico in the first quarter valued at approximately $254,277,000. Harbour Capital Advisors LLC boosted its stake in shares of Pepsico by 11,316.2% in the second quarter. Harbour Capital Advisors LLC now owns 2,183,685 shares of the company’s stock valued at $18,908,000 after buying an additional 2,164,557 shares in the last quarter. Canada Pension Plan Investment Board boosted its stake in shares of Pepsico by 92.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock valued at $371,065,000 after buying an additional 1,593,550 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Pepsico in the first quarter valued at approximately $112,080,000. Finally, Pioneer Investment Management Inc. boosted its stake in shares of Pepsico by 19.9% in the first quarter. Pioneer Investment Management Inc. now owns 4,414,828 shares of the company’s stock valued at $493,842,000 after buying an additional 733,294 shares in the last quarter. 70.54% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the company. Zacks Investment Research downgraded Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BMO Capital Markets restated a “hold” rating and issued a $120.00 price target on shares of Pepsico in a research note on Wednesday, September 6th. Credit Suisse Group restated a “hold” rating and issued a $122.00 price target (down from $124.00) on shares of Pepsico in a research note on Thursday, October 5th. Royal Bank Of Canada restated a “hold” rating on shares of Pepsico in a research note on Sunday, November 12th. Finally, Macquarie initiated coverage on Pepsico in a research note on Thursday, September 14th. They issued an “outperform” rating and a $125.00 price target on the stock. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $121.35.
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Pepsico, Inc. (NYSE PEP) opened at $114.68 on Friday. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $119.39. The firm has a market capitalization of $163,870.00, a price-to-earnings ratio of 22.61, a PEG ratio of 3.15 and a beta of 0.66. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21.
Pepsico (NYSE:PEP) last released its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.05. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The company had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. equities research analysts anticipate that Pepsico, Inc. will post 5.22 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be issued a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.81%. Pepsico’s dividend payout ratio (DPR) is 66.53%.
In other news, insider Ramon Laguarta sold 21,449 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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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