Gateway Investment Advisers LLC lessened its position in PepsiCo, Inc. (NASDAQ:PEP) by 30.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 465,045 shares of the company’s stock after selling 205,410 shares during the period. Gateway Investment Advisers LLC’s holdings in PepsiCo were worth $61,507,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of the business. Howe & Rusling Inc. boosted its holdings in shares of PepsiCo by 24.2% in the second quarter. Howe & Rusling Inc. now owns 64,677 shares of the company’s stock valued at $8,554,000 after buying an additional 12,583 shares during the period. Capital Insight Partners LLC boosted its holdings in shares of PepsiCo by 8.4% in the second quarter. Capital Insight Partners LLC now owns 19,222 shares of the company’s stock valued at $2,542,000 after buying an additional 1,490 shares during the period. Hohimer Wealth Management LLC boosted its holdings in shares of PepsiCo by 2.3% in the second quarter. Hohimer Wealth Management LLC now owns 20,711 shares of the company’s stock valued at $2,739,000 after buying an additional 468 shares during the period. CNB Bank boosted its holdings in shares of PepsiCo by 7.4% in the second quarter. CNB Bank now owns 10,345 shares of the company’s stock valued at $1,368,000 after buying an additional 715 shares during the period. Finally, Hilton Capital Management LLC acquired a new position in shares of PepsiCo in the second quarter valued at approximately $13,089,000. 70.60% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently weighed in on PEP shares. SunTrust Banks upped their price target on shares of PepsiCo from $125.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday. Barclays reiterated a “hold” rating and issued a $136.00 price target on shares of PepsiCo in a report on Friday, April 17th. Royal Bank of Canada restated a “buy” rating and set a $153.00 target price on shares of PepsiCo in a report on Tuesday, April 14th. Citigroup reduced their target price on shares of PepsiCo from $157.00 to $148.00 and set a “neutral” rating for the company in a report on Wednesday, April 29th. Finally, Credit Suisse Group upgraded shares of PepsiCo from an “underperform” rating to an “outperform” rating and increased their target price for the stock from $138.00 to $144.00 in a report on Friday, March 27th. Eight investment analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. PepsiCo currently has an average rating of “Buy” and an average price target of $143.00.
PEP stock traded up $0.48 during trading hours on Wednesday, reaching $136.00. The stock had a trading volume of 903,802 shares, compared to its average volume of 6,048,595. The stock has a market capitalization of $186.56 billion, a PE ratio of 26.27, a price-to-earnings-growth ratio of 5.11 and a beta of 0.58. The company has a debt-to-equity ratio of 2.61, a current ratio of 1.10 and a quick ratio of 0.94. The stock has a 50-day simple moving average of $131.77 and a 200 day simple moving average of $133.78. PepsiCo, Inc. has a fifty-two week low of $101.42 and a fifty-two week high of $147.20.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Monday, July 13th. The company reported $1.32 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.07. The company had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.47 billion. PepsiCo had a net margin of 10.62% and a return on equity of 55.74%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.54 earnings per share. On average, sell-side analysts forecast that PepsiCo, Inc. will post 5.32 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Friday, June 5th were given a $1.0225 dividend. The ex-dividend date was Thursday, June 4th. This is a positive change from PepsiCo’s previous quarterly dividend of $0.96. This represents a $4.09 annualized dividend and a dividend yield of 3.01%. PepsiCo’s dividend payout ratio is presently 73.96%.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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