Midwest Professional Planners LTD. lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 42.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,193 shares of the company’s stock after selling 2,349 shares during the quarter. Midwest Professional Planners LTD.’s holdings in PepsiCo were worth $348,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. WP Advisors LLC bought a new position in shares of PepsiCo in the second quarter valued at about $118,000. Well Done LLC bought a new position in shares of PepsiCo in the first quarter valued at about $125,000. Atlas Capital Advisors LLC raised its position in shares of PepsiCo by 85.7% in the second quarter. Atlas Capital Advisors LLC now owns 1,300 shares of the company’s stock valued at $149,000 after purchasing an additional 600 shares during the period. Independent Order of Foresters bought a new position in shares of PepsiCo in the second quarter valued at about $152,000. Finally, Clearwater Capital Advisors LLC bought a new position in shares of PepsiCo in the first quarter valued at about $154,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.
NASDAQ:PEP opened at $111.17 on Friday. PepsiCo, Inc. has a 52 week low of $95.94 and a 52 week high of $122.51. The stock has a market cap of $156.92 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 2.78 and a beta of 0.58. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.15 and a current ratio of 1.31.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 2nd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. PepsiCo had a net margin of 7.66% and a return on equity of 73.27%. The business had revenue of $16.49 billion for the quarter, compared to analyst estimates of $16.38 billion. During the same period last year, the firm earned $1.48 earnings per share. PepsiCo’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts anticipate that PepsiCo, Inc. will post 5.65 earnings per share for the current year.
In other PepsiCo news, CEO Mike Spanos sold 20,074 shares of the firm’s stock in a transaction dated Wednesday, October 31st. The shares were sold at an average price of $112.42, for a total value of $2,256,719.08. Following the transaction, the chief executive officer now directly owns 35,520 shares of the company’s stock, valued at approximately $3,993,158.40. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mehmood Khan sold 168,295 shares of the firm’s stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $110.12, for a total transaction of $18,532,645.40. Following the completion of the transaction, the executive vice president now directly owns 173,702 shares in the company, valued at $19,128,064.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 205,893 shares of company stock worth $22,663,157. 0.27% of the stock is owned by insiders.
Several brokerages have recently weighed in on PEP. BidaskClub lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research raised shares of PepsiCo from a “sell” rating to a “hold” rating in a research report on Monday, October 29th. Morgan Stanley reissued an “overweight” rating on shares of PepsiCo in a research report on Friday, October 5th. Macquarie lowered shares of PepsiCo from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $122.00 to $107.00 in a research report on Friday, October 5th. Finally, Deutsche Bank dropped their price objective on shares of PepsiCo from $118.00 to $116.00 and set a “hold” rating on the stock in a research report on Wednesday, October 3rd. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $117.89.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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