Baird Financial Group Inc. Increases Stake in PepsiCo, Inc. (PEP)

Baird Financial Group Inc. grew its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.5% during the second quarter, HoldingsChannel.com reports. The firm owned 1,024,954 shares of the company’s stock after acquiring an additional 15,591 shares during the period. PepsiCo makes up approximately 0.8% of Baird Financial Group Inc.’s portfolio, making the stock its 16th largest position. Baird Financial Group Inc.’s holdings in PepsiCo were worth $111,587,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PEP. WP Advisors LLC acquired a new stake in PepsiCo during the second quarter worth about $118,000. Well Done LLC purchased a new position in PepsiCo during the first quarter worth approximately $125,000. Atlas Capital Advisors LLC boosted its position in PepsiCo by 85.7% during the second quarter. Atlas Capital Advisors LLC now owns 1,300 shares of the company’s stock worth $149,000 after purchasing an additional 600 shares in the last quarter. Independent Order of Foresters purchased a new position in PepsiCo during the second quarter worth approximately $152,000. Finally, Clearwater Capital Advisors LLC purchased a new position in PepsiCo during the first quarter worth approximately $154,000. 70.64% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Mike Spanos sold 20,074 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The stock was 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 owns 35,520 shares in the company, valued at $3,993,158.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Laxman Narasimhan sold 5,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 4th. The shares were sold at an average price of $106.79, for a total value of $587,345.00. Following the completion of the transaction, the chief executive officer now owns 130,135 shares in the company, valued at approximately $13,897,116.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 205,893 shares of company stock worth $22,663,157. Company insiders own 0.27% of the company’s stock.

A number of equities analysts have issued reports on PEP shares. Zacks Investment Research upgraded PepsiCo from a “sell” rating to a “hold” rating in a research report on Monday, October 29th. Morgan Stanley lowered their price target on PepsiCo from $127.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, October 4th. JPMorgan Chase & Co. set a $128.00 price target on PepsiCo and gave the stock a “buy” rating in a research report on Wednesday, July 11th. Citigroup increased their price target on PepsiCo from $111.00 to $118.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 11th. Finally, Cfra set a $129.00 price target on PepsiCo and gave the stock a “buy” rating in a research report on Tuesday, July 10th. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. PepsiCo currently has an average rating of “Hold” and a consensus price target of $117.89.

NASDAQ PEP opened at $115.21 on Wednesday. The company has a market capitalization of $156.92 billion, a PE ratio of 22.03, a PEG ratio of 2.78 and a beta of 0.58. PepsiCo, Inc. has a 1-year low of $95.94 and a 1-year high of $122.51. The company has a current ratio of 1.31, a quick ratio of 1.15 and a debt-to-equity ratio of 2.95.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.02. The business had revenue of $16.49 billion for the quarter, compared to the consensus estimate of $16.38 billion. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.48 earnings per share. On average, research analysts predict that PepsiCo, Inc. will post 5.65 earnings per share for the current fiscal year.

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About PepsiCo

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.

See Also: Diversification

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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