LLBH Private Wealth Management LLC purchased a new position in shares of Pepsico, Inc. (NYSE:PEP) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 18,606 shares of the company’s stock, valued at approximately $2,149,000. Pepsico makes up approximately 0.7% of LLBH Private Wealth Management LLC’s holdings, making the stock its 16th largest position.
A number of other hedge funds and other institutional investors also recently modified their holdings of PEP. Barnett & Company Inc. raised its holdings in Pepsico by 270.4% during the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after purchasing an additional 657 shares during the last quarter. Asset Planning Services Ltd. raised its holdings in Pepsico by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock worth $116,000 after purchasing an additional 3 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its holdings in Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after purchasing an additional 165 shares during the last quarter. Millie Capital Management LLC bought a new stake in Pepsico during the 1st quarter worth about $202,000. Finally, S. R. Schill & Associates bought a new stake in Pepsico during the 2nd quarter worth about $203,000. Institutional investors and hedge funds own 70.50% of the company’s stock.
In related news, insider Ramon Laguarta sold 21,449 shares of the stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.
Pepsico, Inc. (PEP) traded up $0.68 during midday trading on Monday, reaching $117.46. The company had a trading volume of 4,403,025 shares, compared to its average volume of 3,669,129. Pepsico, Inc. has a twelve month low of $100.12 and a twelve month high of $119.39. The company has a current ratio of 1.35, a quick ratio of 1.21 and a debt-to-equity ratio of 2.32. The company has a market cap of $167,040.00, a PE ratio of 22.81, a price-to-earnings-growth ratio of 3.17 and a beta of 0.68.
Pepsico (NYSE:PEP) last posted its earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping 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 business had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. During the same period in the prior year, the business earned $1.40 EPS. Pepsico’s revenue for the quarter was up 1.3% compared to the same quarter last year. 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. Investors of record on Friday, December 1st will be paid a dividend of $0.805 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $3.22 dividend on an annualized basis and a yield of 2.74%. Pepsico’s payout ratio is 66.53%.
Several brokerages have weighed in on PEP. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective for the company in a report on Tuesday, August 22nd. Credit Suisse Group cut Pepsico from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $126.00 to $124.00 in a research note on Friday, September 8th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $115.00 price target on shares of Pepsico in a research note on Wednesday, September 6th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $120.00 price target on shares of Pepsico in a research note on Wednesday, September 6th. Seven investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $121.96.
ILLEGAL ACTIVITY NOTICE: This piece of content was first reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of U.S. and international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2017/12/04/18606-shares-in-pepsico-inc-pep-acquired-by-llbh-private-wealth-management-llc.html.
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).
Receive News & Ratings for Pepsico Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pepsico Inc. and related companies with MarketBeat.com's FREE daily email newsletter.