First Republic Investment Management Inc. trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,187,860 shares of the company’s stock after selling 53,854 shares during the quarter. PepsiCo accounts for approximately 0.7% of First Republic Investment Management Inc.’s holdings, making the stock its 24th biggest holding. First Republic Investment Management Inc. owned approximately 0.08% of PepsiCo worth $129,322,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. WP Advisors LLC purchased a new stake in PepsiCo in the 2nd quarter worth about $118,000. Well Done LLC bought a new position in PepsiCo in the 1st quarter worth about $125,000. Atlas Capital Advisors LLC grew its stake in PepsiCo by 85.7% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,300 shares of the company’s stock worth $149,000 after acquiring an additional 600 shares in the last quarter. Independent Order of Foresters bought a new position in PepsiCo in the 2nd quarter worth about $152,000. Finally, Clearwater Capital Advisors LLC bought a new position in PepsiCo in the 1st quarter worth about $154,000. Hedge funds and other institutional investors own 70.64% of the company’s stock.
A number of brokerages have commented on PEP. BidaskClub upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Zacks Investment Research upgraded shares of PepsiCo from a “sell” rating to a “hold” rating in a research note on Sunday, July 15th. Deutsche Bank dropped their target price on shares of PepsiCo from $118.00 to $116.00 and set a “hold” rating on the stock in a research note on Wednesday, October 3rd. Morgan Stanley dropped their target price on shares of PepsiCo from $127.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, October 4th. Finally, Citigroup dropped their target price on shares of PepsiCo from $118.00 to $116.00 and set a “hold” rating on the stock in a research note on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $117.89.
In other PepsiCo news, CEO Mike Spanos sold 20,074 shares of the firm’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $112.42, for a total value of $2,256,719.08. Following the completion of the sale, the chief executive officer now directly owns 35,520 shares in the company, valued at $3,993,158.40. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP David Yawman sold 12,024 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $106.99, for a total transaction of $1,286,447.76. Following the completion of the sale, the executive vice president now owns 59,133 shares of the company’s stock, valued at $6,326,639.67. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 205,893 shares of company stock worth $22,663,157. Insiders own 0.27% of the company’s stock.
NASDAQ PEP opened at $117.48 on Friday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.15 and a current ratio of 1.31. PepsiCo, Inc. has a 52-week low of $95.94 and a 52-week high of $122.51. The company has a market cap of $162.63 billion, a PE ratio of 22.46, a price-to-earnings-growth ratio of 2.88 and a beta of 0.58.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 2nd. The company reported $1.59 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.02. PepsiCo had a net margin of 7.66% and a return on equity of 73.27%. The firm had revenue of $16.49 billion for the quarter, compared to the consensus estimate of $16.38 billion. During the same period last year, the firm earned $1.48 earnings per share. The company’s quarterly revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that PepsiCo, Inc. will post 5.65 earnings per share for the current year.
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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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