Private Asset Management Inc. lowered its stake in shares of Pepsico, Inc. (NYSE:PEP) by 89.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,543 shares of the company’s stock after selling 53,149 shares during the period. Private Asset Management Inc.’s holdings in Pepsico were worth $6,543,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Pepsico by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 112,083,751 shares of the company’s stock valued at $12,944,553,000 after buying an additional 2,635,738 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Pepsico by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 12,699,308 shares of the company’s stock valued at $1,466,839,000 after buying an additional 306,675 shares in the last quarter. FMR LLC grew its stake in Pepsico by 8.3% in the 2nd quarter. FMR LLC now owns 8,043,420 shares of the company’s stock valued at $928,934,000 after buying an additional 618,813 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Pepsico by 3.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 7,781,835 shares of the company’s stock valued at $898,725,000 after buying an additional 238,221 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Pepsico by 7.0% in the 2nd quarter. Alliancebernstein L.P. now owns 6,568,054 shares of the company’s stock valued at $758,545,000 after buying an additional 428,728 shares in the last quarter. Institutional investors 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 shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by company insiders.
Pepsico (NYSE:PEP) last announced its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.05. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The firm had revenue of $16.24 billion during the quarter, compared to the consensus estimate of $16.35 billion. During the same period last year, the firm earned $1.40 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. equities research analysts anticipate that Pepsico, Inc. will post 5.22 earnings per share for the current year.
The company also recently declared 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 annualized dividend and a yield of 2.70%. The ex-dividend date is Thursday, November 30th. Pepsico’s payout ratio is 66.53%.
A number of research analysts recently weighed in on PEP shares. Cowen reiterated a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Credit Suisse Group lowered shares of Pepsico from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $126.00 to $124.00 in a research note on Friday, September 8th. Zacks Investment Research lowered shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Royal Bank of Canada reiterated a “hold” rating on shares of Pepsico in a research note on Sunday, November 12th. Finally, Macquarie started coverage on shares of Pepsico in a research note on Thursday, September 14th. They issued an “outperform” rating and a $125.00 price objective for the company. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Pepsico currently has a consensus rating of “Buy” and an average price target of $122.73.
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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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