Obermeyer Wood Investment Counsel Lllp acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,698 shares of the company’s stock, valued at approximately $223,000.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. BlackRock Inc. lifted its position in PepsiCo by 2.4% in the fourth quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock valued at $10,727,836,000 after buying an additional 2,275,511 shares during the last quarter. Thoroughbred Financial Services LLC lifted its position in PepsiCo by 13,410.8% in the second quarter. Thoroughbred Financial Services LLC now owns 1,806,262 shares of the company’s stock valued at $180,626,000 after buying an additional 1,792,893 shares during the last quarter. Railway Pension Investments Ltd acquired a new position in PepsiCo in the second quarter valued at about $16,182,000. APG Asset Management N.V. lifted its position in PepsiCo by 32.6% in the second quarter. APG Asset Management N.V. now owns 4,684,180 shares of the company’s stock valued at $539,372,000 after buying an additional 1,151,329 shares during the last quarter. Finally, Swedbank acquired a new position in PepsiCo in the second quarter valued at about $135,539,000. 71.51% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have commented on PEP shares. Bank of America upped their target price on shares of PepsiCo from $135.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. UBS Group upped their target price on shares of PepsiCo from $130.00 to $132.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Cowen upped their target price on shares of PepsiCo from $142.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, July 10th. Finally, Argus reaffirmed a “buy” rating on shares of PepsiCo in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. PepsiCo has a consensus rating of “Buy” and a consensus price target of $130.50.
In other PepsiCo news, CEO Steven C. Williams sold 2,420 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total value of $324,159.00. Following the transaction, the chief executive officer now directly owns 54,920 shares in the company, valued at $7,356,534. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kirk Tanner sold 9,573 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the transaction, the chief executive officer now owns 105,350 shares in the company, valued at $13,500,602.50. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company’s stock.
Shares of PEP stock traded up $0.93 during trading hours on Thursday, reaching $137.29. 4,146,693 shares of the stock were exchanged, compared to its average volume of 4,687,229. The business’s fifty day moving average is $132.01 and its two-hundred day moving average is $127.77. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.86 and a quick ratio of 0.66. PepsiCo, Inc. has a 12-month low of $104.53 and a 12-month high of $139.18. The firm has a market capitalization of $190.71 billion, a P/E ratio of 24.26, a P/E/G ratio of 3.54 and a beta of 0.56.
PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.05. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The firm had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.44 billion. During the same period in the prior year, the firm earned $1.61 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts predict that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $0.955 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.78%. PepsiCo’s payout ratio is 67.49%.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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