TNB Financial reduced its position in shares of PepsiCo Inc. (NYSE:PEP) by 0.2% during the second quarter, Holdings Channel reports. The institutional investor owned 24,750 shares of the company’s stock after selling 49 shares during the period. TNB Financial’s holdings in PepsiCo were worth $2,622,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. D. Scott Neal Inc. raised its stake in shares of PepsiCo by 8.1% in the second quarter. D. Scott Neal Inc. now owns 944 shares of the company’s stock valued at $100,000 after buying an additional 71 shares during the period. Piershale Financial Group Inc. raised its stake in shares of PepsiCo by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock valued at $106,000 after buying an additional 4 shares during the period. Gradient Investments LLC raised its stake in shares of PepsiCo by 7.0% in the second quarter. Gradient Investments LLC now owns 1,530 shares of the company’s stock valued at $162,000 after buying an additional 100 shares during the period. Tiemann Investment Advisors LLC acquired a new stake in shares of PepsiCo during the first quarter valued at $200,000. Finally, Augustine Asset Management Inc. acquired a new stake in shares of PepsiCo during the second quarter valued at $201,000. 69.81% of the stock is currently owned by institutional investors.
Shares of PepsiCo Inc. (NYSE:PEP) traded down 0.39% on Friday, hitting $105.99. The company’s stock had a trading volume of 4,398,433 shares. The firm has a market cap of $152.01 billion, a PE ratio of 23.25 and a beta of 0.46. PepsiCo Inc. has a 1-year low of $93.25 and a 1-year high of $110.94. The company has a 50 day moving average of $106.96 and a 200 day moving average of $105.32.
PepsiCo (NYSE:PEP) last issued its earnings results on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.08. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. The company earned $16 billion during the quarter. During the same period in the previous year, the company earned $1.35 EPS. PepsiCo’s quarterly revenue was down 1.9% on a year-over-year basis. Equities analysts forecast that PepsiCo Inc. will post $4.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Wednesday, August 31st. PepsiCo’s dividend payout ratio is currently 66.01%.
Several equities research analysts have recently weighed in on PEP shares. Vetr raised PepsiCo from a “hold” rating to a “buy” rating and set a $112.11 target price on the stock in a research report on Wednesday, September 7th. Argus raised their target price on PepsiCo from $116.00 to $124.00 and gave the stock a “buy” rating in a research report on Wednesday, July 13th. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a research report on Wednesday, September 7th. Jefferies Group reissued a “buy” rating and set a $119.00 target price on shares of PepsiCo in a research report on Wednesday, June 29th. Finally, Credit Suisse Group AG started coverage on PepsiCo in a research report on Thursday, September 15th. They set an “outperform” rating and a $121.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. PepsiCo presently has a consensus rating of “Buy” and an average price target of $113.68.
In related news, CEO Laxman Narasimhan sold 3,219 shares of the stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $109.11, for a total value of $351,225.09. Following the completion of the transaction, the chief executive officer now owns 97,057 shares of the company’s stock, valued at $10,589,889.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Marie T. Gallagher sold 13,586 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $109.01, for a total value of $1,481,009.86. Following the completion of the transaction, the senior vice president now directly owns 58,183 shares of the company’s stock, valued at approximately $6,342,528.83. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.
PepsiCo Company Profile
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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