ETRADE Capital Management LLC increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,877 shares of the company’s stock after buying an additional 1,103 shares during the period. ETRADE Capital Management LLC’s holdings in PepsiCo were worth $7,065,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Gantzert Investment Co. LLC ADV purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $2,231,000. Buckingham Capital Management Inc. lifted its holdings in shares of PepsiCo by 8.4% in the fourth quarter. Buckingham Capital Management Inc. now owns 35,608 shares of the company’s stock valued at $3,934,000 after purchasing an additional 2,755 shares in the last quarter. Portfolio Solutions LLC purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $111,000. First Business Financial Services Inc. purchased a new stake in shares of PepsiCo in the fourth quarter valued at about $347,000. Finally, Boston Research & Management Inc. lifted its holdings in shares of PepsiCo by 5.8% in the fourth quarter. Boston Research & Management Inc. now owns 37,998 shares of the company’s stock valued at $4,198,000 after purchasing an additional 2,090 shares in the last quarter. 71.51% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Kirk Tanner sold 9,573 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total value of $1,226,779.95. Following 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Steven C. Williams sold 2,420 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total transaction of $324,159.00. Following the completion of the sale, the chief executive officer now owns 54,920 shares in the company, valued at approximately $7,356,534. The disclosure for this sale can be found here. 0.28% of the stock is owned by insiders.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.05. The business had revenue of $16.45 billion for the quarter, compared to the consensus estimate of $16.44 billion. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. PepsiCo’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the company posted $1.61 earnings per share. On average, sell-side analysts expect that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $0.955 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a yield of 2.78%. PepsiCo’s dividend payout ratio is currently 67.49%.
Several brokerages have issued reports on PEP. BMO Capital Markets reaffirmed an “average” rating and issued a $128.00 price target on shares of PepsiCo in a report on Wednesday, July 10th. Credit Suisse Group boosted their price objective on shares of PepsiCo from $110.00 to $117.00 and gave the company an “underperform” rating in a research report on Friday, September 6th. ValuEngine raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Tuesday, August 27th. Argus reissued a “buy” rating on shares of PepsiCo in a research report on Thursday, July 11th. Finally, SunTrust Banks reissued a “hold” rating and issued a $125.00 price objective on shares of PepsiCo in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $130.50.
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.
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