Gamco Investors INC. ET AL cut its position in PepsiCo Inc. (NYSE:PEP) by 2.2% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 478,236 shares of the company’s stock after selling 10,985 shares during the period. Gamco Investors INC. ET AL’s holdings in PepsiCo were worth $50,664,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of PEP. Wellington Management Group LLP boosted its stake in PepsiCo by 40.9% in the first quarter. Wellington Management Group LLP now owns 21,691,078 shares of the company’s stock worth $2,222,902,000 after buying an additional 6,297,861 shares in the last quarter. Bank of Montreal Can purchased a new stake in PepsiCo during the second quarter valued at approximately $519,379,000. Emerald Acquisition Ltd. purchased a new stake in PepsiCo during the second quarter valued at approximately $370,675,000. Renaissance Technologies LLC boosted its stake in PepsiCo by 108.4% in the first quarter. Renaissance Technologies LLC now owns 3,729,062 shares of the company’s stock valued at $382,154,000 after buying an additional 1,940,000 shares during the period. Finally, State Street Corp boosted its stake in PepsiCo by 1.5% in the first quarter. State Street Corp now owns 58,107,763 shares of the company’s stock valued at $5,954,891,000 after buying an additional 860,005 shares during the period. 69.81% of the stock is owned by institutional investors and hedge funds.
PepsiCo Inc. (NYSE:PEP) traded up 0.94% during mid-day trading on Friday, hitting $108.77. The company had a trading volume of 7,173,287 shares. The company’s 50 day moving average price is $107.19 and its 200-day moving average price is $105.12. The firm has a market capitalization of $156.54 billion, a PE ratio of 30.73 and a beta of 0.48. PepsiCo Inc. has a 12-month low of $93.25 and a 12-month high of $110.94.
PepsiCo (NYSE:PEP) last issued its quarterly earnings results on Thursday, September 29th. The company reported $1.40 EPS for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.08. The business had revenue of $16 billion for the quarter. PepsiCo had a net margin of 8.34% and a return on equity of 54.91%. The business’s revenue was down 1.9% compared to the same quarter last year. During the same period last year, the company posted $1.35 EPS. On average, analysts forecast that PepsiCo Inc. will post $4.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were given a dividend of $0.7525 per share. The ex-dividend date was Wednesday, August 31st. This represents a $3.01 dividend on an annualized basis and a yield of 2.77%. PepsiCo’s dividend payout ratio (DPR) is currently 84.79%.
Several equities research analysts have recently commented on PEP shares. Bank of America Corp. reissued a “buy” rating and issued a $120.00 target price on shares of PepsiCo in a research note on Thursday, September 22nd. Credit Agricole SA reissued an “outperform” rating on shares of PepsiCo in a research note on Monday, August 22nd. Credit Suisse Group AG started coverage on PepsiCo in a research note on Thursday, September 15th. They issued an “outperform” rating and a $121.00 target price for the company. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. Finally, Susquehanna reissued a “neutral” rating on shares of PepsiCo in a research note on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company. PepsiCo has an average rating of “Buy” and a consensus price target of $111.39.
In other PepsiCo news, CEO Albert P. Carey sold 170,003 shares of the company’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $108.81, for a total transaction of $18,498,026.43. Following the sale, the chief executive officer now owns 306,138 shares of the company’s stock, valued at $33,310,875.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Laxman Narasimhan sold 3,219 shares of the company’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $109.11, for a total transaction of $351,225.09. Following the sale, the chief executive officer now directly owns 97,057 shares in the company, valued at approximately $10,589,889.27. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.
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