Signet Financial Management LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 94.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,940 shares of the company’s stock after selling 55,200 shares during the period. Signet Financial Management LLC’s holdings in PepsiCo were worth $320,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Fiera Capital Corp boosted its holdings in shares of PepsiCo by 5.3% during the first quarter. Fiera Capital Corp now owns 3,512,114 shares of the company’s stock worth $383,347,000 after purchasing an additional 177,748 shares during the period. Bruderman Asset Management LLC boosted its holdings in shares of PepsiCo by 3.9% during the first quarter. Bruderman Asset Management LLC now owns 59,583 shares of the company’s stock worth $6,503,000 after purchasing an additional 2,255 shares during the period. Patriot Wealth Management Inc. boosted its holdings in shares of PepsiCo by 3.1% during the second quarter. Patriot Wealth Management Inc. now owns 43,785 shares of the company’s stock worth $4,767,000 after purchasing an additional 1,297 shares during the period. World Asset Management Inc boosted its holdings in shares of PepsiCo by 2.9% during the second quarter. World Asset Management Inc now owns 102,760 shares of the company’s stock worth $11,187,000 after purchasing an additional 2,917 shares during the period. Finally, Transamerica Financial Advisors Inc. boosted its holdings in shares of PepsiCo by 2.6% during the first quarter. Transamerica Financial Advisors Inc. now owns 30,387 shares of the company’s stock worth $3,317,000 after purchasing an additional 771 shares during the period. 70.64% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Laxman Narasimhan sold 5,500 shares of the business’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $106.79, for a total transaction of $587,345.00. Following the transaction, the chief executive officer now owns 130,135 shares of the company’s stock, valued at $13,897,116.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mehmood Khan sold 168,295 shares of the business’s stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $110.12, for a total transaction of $18,532,645.40. Following the transaction, the executive vice president now directly owns 173,702 shares in the company, valued at approximately $19,128,064.24. The disclosure for this sale can be found here. Insiders sold 205,893 shares of company stock valued at $22,663,157 over the last 90 days. 0.27% of the stock is owned by corporate insiders.
PEP has been the subject of a number of analyst reports. BidaskClub cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. ValuEngine upgraded shares of PepsiCo from a “sell” rating to a “hold” rating in a research note on Tuesday, July 10th. JPMorgan Chase & Co. set a $128.00 target price on shares of PepsiCo and gave the company a “buy” rating in a research note on Wednesday, July 11th. Morgan Stanley lifted their target price on shares of PepsiCo from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Finally, Citigroup lifted their target price on shares of PepsiCo from $111.00 to $118.00 and gave the company a “neutral” rating in a research note on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have given a buy rating to the stock. PepsiCo has a consensus rating of “Hold” and an average target price of $117.89.
Shares of PepsiCo stock opened at $111.17 on Monday. The company has a quick ratio of 1.15, a current ratio of 1.31 and a debt-to-equity ratio of 2.95. PepsiCo, Inc. has a 1-year low of $95.94 and a 1-year high of $122.51. The firm has a market capitalization of $156.92 billion, a PE ratio of 21.26, a PEG ratio of 2.78 and a beta of 0.58.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $16.38 billion. During the same period in the previous year, the company earned $1.48 earnings per share. PepsiCo’s revenue for the quarter was up 1.5% on a year-over-year basis. As a group, analysts anticipate that PepsiCo, Inc. will post 5.65 EPS for the current year.
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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