Cadence Bank NA boosted its stake in shares of Pepsico, Inc. (NYSE:PEP) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,949 shares of the company’s stock after buying an additional 258 shares during the period. Cadence Bank NA’s holdings in Pepsico were worth $1,380,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the stock. Accurate Investment Solutions Inc. raised its holdings in Pepsico by 0.3% during the 2nd quarter. Accurate Investment Solutions Inc. now owns 1,851 shares of the company’s stock valued at $214,000 after buying an additional 5 shares during the period. Northwest Wealth Management LLC grew its position in Pepsico by 0.4% in the 2nd quarter. Northwest Wealth Management LLC now owns 2,511 shares of the company’s stock valued at $290,000 after acquiring an additional 11 shares during the last quarter. Willingdon Wealth Management grew its position in Pepsico by 0.3% in the 1st quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock valued at $714,000 after acquiring an additional 16 shares during the last quarter. SRS Capital Advisors Inc. grew its position in Pepsico by 0.7% in the 1st quarter. SRS Capital Advisors Inc. now owns 2,710 shares of the company’s stock valued at $303,000 after acquiring an additional 20 shares during the last quarter. Finally, Alexandria Capital LLC grew its position in Pepsico by 0.5% in the 1st quarter. Alexandria Capital LLC now owns 4,160 shares of the company’s stock valued at $465,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 70.31% of the company’s stock.
Several equities analysts have commented on PEP shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $133.00 price objective (up previously from $130.00) on shares of Pepsico in a research report on Wednesday, July 12th. BidaskClub downgraded Pepsico from a “buy” rating to a “hold” rating in a research report on Saturday, July 1st. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price objective on the stock in a research report on Tuesday, August 22nd. Susquehanna Bancshares Inc reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Pepsico in a research report on Monday, October 2nd. Finally, Credit Suisse Group reaffirmed a “hold” rating and issued a $122.00 price objective (down previously from $124.00) on shares of Pepsico in a research report on Thursday, October 5th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Pepsico has an average rating of “Buy” and an average target price of $121.35.
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In related news, insider Ramon Laguarta sold 21,449 shares of the business’s stock in a transaction on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Marie T. Gallagher sold 41,489 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $116.77, for a total value of $4,844,670.53. Following the transaction, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.
Pepsico, Inc. (NYSE PEP) opened at 110.75 on Wednesday. The company has a market cap of $157.50 billion, a P/E ratio of 22.89 and a beta of 0.68. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $119.39. The stock’s 50 day moving average price is $112.62 and its 200-day moving average price is $114.75.
Pepsico (NYSE:PEP) last posted its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.43 by $0.05. The firm had revenue of $16.24 billion for the quarter, compared to the consensus estimate of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.40 EPS. On average, equities analysts predict that Pepsico, Inc. will post $5.22 earnings per share for the current fiscal year.
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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