Gareth Morgan Investments Limited Partnership Has $7.90 Million Holdings in Pepsico, Inc. (PEP)

Gareth Morgan Investments Limited Partnership trimmed its position in Pepsico, Inc. (NYSE:PEP) by 3.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,429 shares of the company’s stock after selling 2,170 shares during the period. Gareth Morgan Investments Limited Partnership’s holdings in Pepsico were worth $7,903,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Barnett & Company Inc. lifted its holdings in shares of Pepsico by 270.4% during the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after acquiring an additional 657 shares during the last quarter. Asset Planning Services Ltd. lifted its holdings in shares of Pepsico by 0.3% during the 2nd quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock worth $116,000 after acquiring an additional 3 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of Pepsico by 5.9% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,211 shares of the company’s stock worth $138,000 after acquiring an additional 67 shares during the last quarter. Riggs Asset Managment Co. Inc. lifted its holdings in shares of Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after acquiring an additional 165 shares during the last quarter. Finally, Millie Capital Management LLC bought a new stake in shares of Pepsico during the 1st quarter worth $202,000. 70.50% of the stock is owned by hedge funds and other institutional investors.

In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of the business’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

PEP has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Monday. BidaskClub downgraded shares of Pepsico from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Susquehanna Bancshares reaffirmed a “buy” rating and set a $135.00 price objective on shares of Pepsico in a report on Monday, October 2nd. Credit Suisse Group reaffirmed a “hold” rating and set a $122.00 price objective (down from $124.00) on shares of Pepsico in a report on Thursday, October 5th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $115.00 price objective on shares of Pepsico in a report on Wednesday, September 6th. Eight equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $121.96.

Pepsico, Inc. (NYSE:PEP) traded up $1.31 during trading on Thursday, reaching $118.90. 3,203,500 shares of the company’s stock traded hands, compared to its average volume of 3,665,145. The company has a debt-to-equity ratio of 2.32, a current ratio of 1.35 and a quick ratio of 1.21. The company has a market capitalization of $167,229.78, a P/E ratio of 22.97, a PEG ratio of 3.20 and a beta of 0.68. Pepsico, Inc. has a 1-year low of $101.06 and a 1-year high of $119.39.

Pepsico (NYSE:PEP) last posted its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.05. The business had revenue of $16.24 billion during the quarter, compared to the consensus estimate of $16.35 billion. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.40 earnings per share. analysts predict that Pepsico, Inc. will post 5.22 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be given a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date of this dividend is Thursday, November 30th. Pepsico’s payout ratio is 66.53%.

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About Pepsico

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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Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

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