Rudd International Inc. Makes New Investment in PepsiCo, Inc. (NASDAQ:PEP)

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Rudd International Inc. purchased a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 34,223 shares of the company’s stock, valued at approximately $4,487,000. PepsiCo accounts for about 2.5% of Rudd International Inc.’s investment portfolio, making the stock its 14th largest holding.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of PepsiCo by 2.4% during the 4th quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock worth $10,727,836,000 after acquiring an additional 2,275,511 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in PepsiCo by 10,622.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock valued at $314,000 after buying an additional 34,380,553 shares in the last quarter. Northern Trust Corp lifted its stake in PepsiCo by 3.2% in the 4th quarter. Northern Trust Corp now owns 20,185,841 shares of the company’s stock valued at $2,230,132,000 after buying an additional 623,727 shares in the last quarter. FMR LLC lifted its stake in PepsiCo by 0.8% in the 1st quarter. FMR LLC now owns 10,952,213 shares of the company’s stock valued at $1,342,194,000 after buying an additional 84,974 shares in the last quarter. Finally, Yacktman Asset Management LP lifted its stake in PepsiCo by 0.9% in the 4th quarter. Yacktman Asset Management LP now owns 7,691,249 shares of the company’s stock valued at $849,729,000 after buying an additional 68,176 shares in the last quarter. 71.83% of the stock is currently owned by institutional investors.

A number of brokerages recently weighed in on PEP. Goldman Sachs Group set a $132.00 price target on shares of PepsiCo and gave the company a “neutral” rating in a research note on Wednesday, April 24th. BMO Capital Markets reaffirmed an “average” rating and issued a $128.00 price target on shares of PepsiCo in a research note on Wednesday, July 10th. Morgan Stanley raised their price target on shares of PepsiCo from $137.00 to $143.00 and gave the company an “overweight” rating in a research note on Wednesday, July 10th. SunTrust Banks reaffirmed a “hold” rating and issued a $125.00 price target on shares of PepsiCo in a research note on Wednesday, July 10th. Finally, Cowen raised their price target on shares of PepsiCo from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $129.35.

PEP traded up $0.54 during trading on Monday, reaching $132.30. The company’s stock had a trading volume of 75,002 shares, compared to its average volume of 4,696,708. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 1.97. The firm has a fifty day simple moving average of $130.78 and a two-hundred day simple moving average of $125.26. PepsiCo, Inc. has a 1 year low of $104.53 and a 1 year high of $135.24. The company has a market cap of $182.77 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 3.39 and a beta of 0.60.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.05. The business had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.44 billion. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the company posted $1.61 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $0.955 per share. The ex-dividend date is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.89%. PepsiCo’s dividend payout ratio is currently 67.49%.

In other news, CEO Kirk Tanner sold 9,573 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the sale, the chief executive officer now owns 105,350 shares in the company, valued at approximately $13,500,602.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Steven C. Williams sold 2,420 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $133.95, for a total transaction of $324,159.00. Following the sale, the chief executive officer now owns 54,920 shares of the company’s stock, valued at approximately $7,356,534. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.

PepsiCo Company Profile

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.

Further Reading: How Do Front-End Loads Impact an Investment?

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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