First Mercantile Trust Co. trimmed its position in Pepsico, Inc. (NYSE:PEP) by 57.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,896 shares of the company’s stock after selling 5,342 shares during the quarter. First Mercantile Trust Co.’s holdings in Pepsico were worth $450,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the business. Barnett & Company Inc. raised its stake in shares of Pepsico by 270.4% in the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock valued at $104,000 after acquiring an additional 657 shares during the period. Riggs Asset Managment Co. Inc. raised its stake in shares of Pepsico by 14.9% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after acquiring an additional 165 shares during the period. Armbruster Capital Management Inc. raised its stake in shares of Pepsico by 21.6% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,782 shares of the company’s stock valued at $206,000 after acquiring an additional 317 shares during the period. Cabot Wealth Management Inc. purchased a new stake in shares of Pepsico in the 2nd quarter valued at approximately $207,000. Finally, Millie Capital Management LLC purchased a new stake in shares of Pepsico in the 1st quarter valued at approximately $202,000. Institutional investors own 70.65% of the company’s stock.
Pepsico, Inc. (NYSE:PEP) opened at $112.75 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 2.32. Pepsico, Inc. has a twelve month low of $98.50 and a twelve month high of $119.39. The company has a market cap of $158,540.50, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 3.03 and a beta of 0.66.
Pepsico (NYSE:PEP) last posted its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping the 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 company had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. During the same quarter in the previous year, the business posted $1.40 EPS. The firm’s revenue was up 1.3% on a year-over-year basis. equities analysts forecast that Pepsico, Inc. will post 5.22 earnings per share for the current fiscal year.
PEP has been the topic of a number of research analyst reports. Cowen and Company reissued a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Credit Suisse Group downgraded shares of Pepsico from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $126.00 to $124.00 in a research note on Friday, September 8th. Zacks Investment Research downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Macquarie initiated coverage on shares of Pepsico in a research note on Thursday, September 14th. They issued an “outperform” rating and a $125.00 price target on the stock. Finally, BMO Capital Markets reissued a “hold” rating and issued a $120.00 price target on shares of Pepsico in a research note on Wednesday, September 6th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Pepsico has an average rating of “Buy” and a consensus price target of $121.35.
In other news, insider Ramon Laguarta sold 21,449 shares of the company’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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.
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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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