New England Asset Management Inc. Decreases Position in Pepsico, Inc. (PEP)

New England Asset Management Inc. cut its stake in Pepsico, Inc. (NYSE:PEP) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,676 shares of the company’s stock after selling 2,000 shares during the quarter. Pepsico makes up approximately 0.1% of New England Asset Management Inc.’s portfolio, making the stock its 20th largest holding. New England Asset Management Inc.’s holdings in Pepsico were worth $4,698,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Barnett & Company Inc. lifted its stake in Pepsico by 270.4% in the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after purchasing an additional 657 shares in the last quarter. Aviance Capital Management LLC purchased a new position in Pepsico in the 2nd quarter worth approximately $111,000. Asset Planning Services Ltd. raised its position in shares of Pepsico by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock valued at $116,000 after buying an additional 3 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in shares of Pepsico by 5.9% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,211 shares of the company’s stock valued at $138,000 after buying an additional 67 shares during the period. Finally, Riggs Asset Managment Co. Inc. raised its position in shares of Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock valued at $142,000 after buying an additional 165 shares during the period. 70.50% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction on Tuesday, October 10th. The shares were 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 the SEC website. 0.26% of the stock is currently owned by insiders.

PEP has been the topic of several analyst reports. Cowen reaffirmed a “buy” rating on shares of Pepsico in a research report on Sunday, September 17th. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a report on Tuesday, August 22nd. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Susquehanna Bancshares reiterated a “buy” rating and issued a $135.00 target price on shares of Pepsico in a report on Monday, October 2nd. Finally, Deutsche Bank reiterated a “buy” rating and issued a $122.00 target price (down previously from $125.00) on shares of Pepsico in a report on Friday, October 6th. Eight investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $121.96.

Pepsico, Inc. (NYSE PEP) traded up $0.82 during trading on Tuesday, hitting $117.39. 2,429,300 shares of the stock traded hands, compared to its average volume of 3,665,022. The stock has a market cap of $165,779.20, a PE ratio of 22.77, a P/E/G ratio of 3.17 and a beta of 0.68. Pepsico, Inc. has a 1-year low of $101.06 and a 1-year 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.

Pepsico (NYSE:PEP) last released its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.05. The business had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.40 EPS. sell-side analysts expect that Pepsico, Inc. will post 5.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be given a dividend of $0.805 per share. The ex-dividend date is Thursday, November 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.74%. Pepsico’s dividend payout ratio (DPR) is currently 66.53%.

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Pepsico 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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Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

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