InterOcean Capital LLC grew its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 98.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,372 shares of the company’s stock after purchasing an additional 18,500 shares during the quarter. InterOcean Capital LLC’s holdings in PepsiCo were worth $4,069,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the business. WP Advisors LLC purchased a new position in shares of PepsiCo in the 2nd quarter worth $118,000. Well Done LLC purchased a new position in shares of PepsiCo in the 1st quarter worth $125,000. Atlas Capital Advisors LLC raised its position in shares of 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 buying an additional 600 shares during the period. Independent Order of Foresters purchased a new position in shares of PepsiCo in the 2nd quarter worth $152,000. Finally, Clearwater Capital Advisors LLC purchased a new position in shares of PepsiCo in the 1st quarter worth $154,000. 70.64% of the stock is currently owned by institutional investors.
Shares of PepsiCo stock opened at $117.48 on Friday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.31 and a quick ratio of 1.15. The stock has a market cap of $163.19 billion, a PE ratio of 21.14, a price-to-earnings-growth ratio of 2.89 and a beta of 0.58. PepsiCo, Inc. has a 1-year low of $95.94 and a 1-year high of $122.51.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.02. The company had revenue of $16.49 billion during the quarter, compared to the consensus estimate of $16.38 billion. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The company’s revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $1.48 earnings per share. On average, analysts predict that PepsiCo, Inc. will post 5.65 EPS for the current fiscal year.
In other news, CEO Laxman Narasimhan sold 5,500 shares of the firm’s stock in a transaction dated Thursday, October 4th. The stock was sold at an average price of $106.79, for a total transaction of $587,345.00. Following the completion of the sale, the chief executive officer now directly owns 130,135 shares in the company, valued at $13,897,116.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Yawman sold 12,024 shares of the stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $106.99, for a total transaction of $1,286,447.76. Following the transaction, the executive vice president now directly owns 59,133 shares in the company, valued at approximately $6,326,639.67. The disclosure for this sale can be found here. Insiders have sold 205,893 shares of company stock valued at $22,663,157 over the last 90 days. Insiders own 0.27% of the company’s stock.
PEP has been the subject of several recent research reports. BidaskClub downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, August 23rd. Susquehanna Bancshares lowered their price target on PepsiCo from $136.00 to $135.00 and set a “positive” rating for the company in a report on Friday, September 28th. Guggenheim initiated coverage on PepsiCo in a report on Thursday, September 13th. They issued a “neutral” rating and a $117.00 price target for the company. Citigroup lowered their price target on PepsiCo from $118.00 to $116.00 and set a “hold” rating for the company in a report on Wednesday, October 3rd. Finally, BMO Capital Markets lowered their price target on PepsiCo from $110.00 to $109.00 and set a “market perform” rating for the company in a report on Wednesday, October 3rd. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price 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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