HighTower Advisors LLC increased its position in Pepsico, Inc. (NYSE:PEP) by 2.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 614,010 shares of the company’s stock after acquiring an additional 15,488 shares during the period. Pepsico makes up about 0.7% of HighTower Advisors LLC’s portfolio, making the stock its 20th biggest holding. HighTower Advisors LLC’s holdings in Pepsico were worth $68,659,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of PEP. Canada Pension Plan Investment Board raised its stake in Pepsico by 92.5% in the 1st quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock worth $371,065,000 after acquiring an additional 1,593,550 shares during the last quarter. Karp Capital Management Corp purchased a new position in Pepsico in the 1st quarter worth $112,080,000. Bank of Montreal Can raised its stake in Pepsico by 16.6% in the 1st quarter. Bank of Montreal Can now owns 5,812,519 shares of the company’s stock worth $650,189,000 after acquiring an additional 827,376 shares during the last quarter. Pioneer Investment Management Inc. raised its stake in Pepsico by 19.9% in the 1st quarter. Pioneer Investment Management Inc. now owns 4,414,828 shares of the company’s stock worth $493,842,000 after acquiring an additional 733,294 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in Pepsico by 73.1% in the 1st 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. Institutional investors own 70.16% of the company’s stock.
A number of equities analysts recently issued reports on the company. BMO Capital Markets lowered Pepsico from an “outperform” rating to a “market perform” rating and raised 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. Zacks Investment Research lowered Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Royal Bank Of Canada restated a “hold” rating and issued a $115.00 target price on shares of Pepsico in a research note on Thursday, May 25th. Jefferies Group LLC restated a “buy” rating and issued a $127.00 target price on shares of Pepsico in a research note on Friday, May 19th. Finally, Cowen and Company restated an “outperform” rating and issued a $128.00 target price on shares of Pepsico in a research note on Thursday, July 13th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Pepsico currently has a consensus rating of “Buy” and an average target price of $123.32.
In other news, EVP Mehmood Khan sold 63,396 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the transaction, the executive vice president now directly owns 174,273 shares in the company, valued at $20,283,634.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Marie T. Gallagher sold 41,489 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.77, for a total transaction of $4,844,670.53. Following the transaction, the senior vice president now owns 76,037 shares in the company, valued at $8,878,840.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 898,164 shares of company stock worth $104,585,929. Company insiders own 0.26% of the company’s stock.
Pepsico, Inc. (NYSE PEP) traded down 0.70% during midday trading on Tuesday, hitting $114.88. The stock had a trading volume of 1,173,656 shares. The stock has a market cap of $163.76 billion, a price-to-earnings ratio of 24.33 and a beta of 0.68. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $119.39. The stock has a 50 day moving average of $116.69 and a 200 day moving average of $114.48.
Pepsico (NYSE:PEP) last announced its earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.10. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The business had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $15.57 billion. During the same period in the prior year, the company earned $1.35 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that Pepsico, Inc. will post $5.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.805 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.78%. Pepsico’s dividend payout ratio (DPR) is 68.22%.
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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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