World Asset Management Inc decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 31.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,419 shares of the company’s stock after selling 20,831 shares during the period. PepsiCo accounts for approximately 0.7% of World Asset Management Inc’s investment portfolio, making the stock its 25th largest position. World Asset Management Inc’s holdings in PepsiCo were worth $5,875,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of PEP. Creative Financial Designs Inc. ADV purchased a new stake in shares of PepsiCo in the 2nd quarter valued at approximately $26,000. Beutel Goodman & Co Ltd. purchased a new stake in shares of PepsiCo in the 4th quarter valued at approximately $27,000. Marquette Asset Management LLC acquired a new position in shares of PepsiCo in the 2nd quarter worth approximately $40,000. New England Investment & Retirement Group Inc. acquired a new position in shares of PepsiCo in the 1st quarter worth approximately $41,000. Finally, Lion Street Advisors LLC acquired a new position in shares of PepsiCo in the 1st quarter worth approximately $43,000. 70.60% of the stock is owned by institutional investors and hedge funds.
PEP has been the topic of several recent analyst reports. Cfra upped their price objective on shares of PepsiCo from $145.00 to $150.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 28th. Royal Bank of Canada reiterated a “buy” rating and set a $153.00 target price on shares of PepsiCo in a report on Tuesday, April 14th. Barclays reiterated a “hold” rating and set a $136.00 target price on shares of PepsiCo in a report on Friday, April 17th. Morgan Stanley reiterated a “buy” rating on shares of PepsiCo in a report on Wednesday, May 13th. Finally, Guggenheim increased their target price on shares of PepsiCo from $134.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $143.00.
NASDAQ PEP opened at $136.06 on Friday. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.97 and a quick ratio of 0.79. The firm’s fifty day moving average price is $132.43 and its 200 day moving average price is $133.69. The company has a market capitalization of $188.78 billion, a price-to-earnings ratio of 27.82, a price-to-earnings-growth ratio of 4.54 and a beta of 0.58. PepsiCo, Inc. has a 12 month low of $101.42 and a 12 month high of $147.20.
PepsiCo (NASDAQ:PEP) last posted its earnings results on Monday, July 13th. The company reported $1.32 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.07. The firm had revenue of $15.95 billion for the quarter, compared to the consensus estimate of $15.47 billion. PepsiCo had a net margin of 10.13% and a return on equity of 54.77%. The company’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the firm posted $1.54 EPS. As a group, sell-side analysts forecast that PepsiCo, Inc. will post 5.34 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be given a dividend of $1.0225 per share. This represents a $4.09 annualized dividend and a yield of 3.01%. The ex-dividend date is Thursday, September 3rd. PepsiCo’s payout ratio is currently 73.96%.
In other PepsiCo news, CEO Steven C. Williams sold 2,600 shares of the firm’s stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $134.32, for a total transaction of $349,232.00. Following the transaction, the chief executive officer now directly owns 67,718 shares of the company’s stock, valued at approximately $9,095,881.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ronald Schellekens sold 7,611 shares of the firm’s stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $135.35, for a total transaction of $1,030,148.85. Following the transaction, the executive vice president now directly owns 36,639 shares in the company, valued at $4,959,088.65. The disclosure for this sale can be found here. Insiders have sold a total of 26,655 shares of company stock worth $3,591,883 over the last three months. 0.13% of the stock is currently owned by insiders.
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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