Penobscot Investment Management Company Inc. lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,837 shares of the company’s stock after selling 2,055 shares during the period. PepsiCo makes up approximately 1.3% of Penobscot Investment Management Company Inc.’s portfolio, making the stock its 20th largest position. Penobscot Investment Management Company Inc.’s holdings in PepsiCo were worth $5,643,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Stevens First Principles Investment Advisors bought a new stake in PepsiCo in the 2nd quarter worth approximately $348,000. Greenwood Capital Associates LLC grew its position in PepsiCo by 16.0% in the 2nd quarter. Greenwood Capital Associates LLC now owns 57,155 shares of the company’s stock worth $6,222,000 after purchasing an additional 7,897 shares during the period. Roffman Miller Associates Inc. PA grew its position in PepsiCo by 4.9% in the 2nd quarter. Roffman Miller Associates Inc. PA now owns 196,935 shares of the company’s stock worth $21,440,000 after purchasing an additional 9,163 shares during the period. United Asset Strategies Inc. grew its position in PepsiCo by 182.4% in the 2nd quarter. United Asset Strategies Inc. now owns 9,699 shares of the company’s stock worth $1,056,000 after purchasing an additional 6,264 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its position in PepsiCo by 10.5% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,338,901 shares of the company’s stock worth $254,636,000 after purchasing an additional 222,402 shares during the period. 70.45% of the stock is owned by institutional investors.
Shares of PepsiCo stock opened at $105.28 on Friday. The firm has a market cap of $158.12 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 2.63 and a beta of 0.67. PepsiCo, Inc. has a 1-year low of $95.94 and a 1-year high of $122.51. The company has a debt-to-equity ratio of 3.00, a quick ratio of 1.09 and a current ratio of 1.24.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.57 by $0.02. The business had revenue of $16.49 billion for the quarter, compared to analysts’ expectations of $16.38 billion. PepsiCo had a net margin of 7.14% and a return on equity of 67.06%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $1.48 EPS. As a group, equities analysts expect that PepsiCo, Inc. will post 5.69 EPS for the current fiscal year.
In other news, CEO Laxman Narasimhan sold 5,500 shares of PepsiCo stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $106.79, for a total transaction of $587,345.00. Following the transaction, the chief executive officer now owns 130,135 shares in the company, valued at approximately $13,897,116.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.27% of the company’s stock.
A number of equities research analysts have commented on the stock. Goldman Sachs Group reaffirmed a “sell” rating and issued a $108.00 target price on shares of PepsiCo in a research report on Monday, August 20th. Guggenheim assumed coverage on shares of PepsiCo in a research report on Thursday, September 13th. They issued a “neutral” rating and a $117.00 target price for the company. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, July 18th. SunTrust Banks lifted their target price on shares of PepsiCo to $110.00 and gave the stock a “hold” rating in a research report on Tuesday, July 24th. Finally, Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $126.00 target price for the company in a research report on Tuesday, September 11th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. PepsiCo presently has an average rating of “Hold” and a consensus price target of $117.89.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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