Miller Investment Management LP held its stake in Pepsico, Inc. (NYSE:PEP) during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,631 shares of the company’s stock at the close of the second quarter. Miller Investment Management LP’s holdings in Pepsico were worth $535,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in PEP. Parsec Financial Management Inc. grew its position in shares of Pepsico by 2.7% during the first quarter. Parsec Financial Management Inc. now owns 183,302 shares of the company’s stock worth $20,504,000 after acquiring an additional 4,823 shares during the last quarter. QV Investors Inc. grew its position in shares of Pepsico by 18.4% during the first quarter. QV Investors Inc. now owns 37,420 shares of the company’s stock worth $4,185,000 after acquiring an additional 5,810 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Pepsico by 73.1% during the first quarter. State of New Jersey Common Pension Fund D now owns 1,539,600 shares of the company’s stock worth $172,220,000 after acquiring an additional 650,000 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Pepsico by 14.6% during the first quarter. Russell Investments Group Ltd. now owns 3,881,793 shares of the company’s stock worth $434,310,000 after purchasing an additional 495,542 shares during the period. Finally, Taylor Cottrill Erickson & Associates Inc. lifted its holdings in shares of Pepsico by 3.6% during the first quarter. Taylor Cottrill Erickson & Associates Inc. now owns 5,222 shares of the company’s stock worth $584,000 after purchasing an additional 183 shares during the period. Institutional investors and hedge funds own 70.50% of the company’s stock.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the firm’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 filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is currently owned by company insiders.
Pepsico (NYSE:PEP) last released its earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $16.35 billion. During the same quarter last year, the company earned $1.40 earnings per share. Pepsico’s quarterly revenue was up 1.3% compared to the same quarter last year. equities analysts anticipate that Pepsico, Inc. will post 5.22 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Shareholders 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 yield of 2.71%. The ex-dividend date of this dividend is Thursday, November 30th. Pepsico’s dividend payout ratio (DPR) is currently 66.53%.
Several brokerages recently weighed in on PEP. Zacks Investment Research downgraded Pepsico from a “buy” rating to a “hold” rating in a report on Tuesday. Royal Bank Of Canada reaffirmed a “hold” rating on shares of Pepsico in a report on Sunday, November 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $116.00 price target on shares of Pepsico in a report on Friday, October 13th. Deutsche Bank reaffirmed a “buy” rating and set a $122.00 price target (down from $125.00) on shares of Pepsico in a report on Friday, October 6th. Finally, Credit Suisse Group reaffirmed a “hold” rating and set a $122.00 price target (down from $124.00) on shares of Pepsico in a report on Thursday, October 5th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $121.96.
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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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