KAMES CAPITAL plc acquired a new stake in PepsiCo, Inc. (NASDAQ:PEP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 9,155 shares of the company’s stock, valued at approximately $1,024,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc grew its holdings in PepsiCo by 1.2% during the second quarter. IFP Advisors Inc now owns 36,628 shares of the company’s stock worth $3,988,000 after purchasing an additional 443 shares during the period. Heritage Way Advisors LLC grew its holdings in PepsiCo by 2.6% during the second quarter. Heritage Way Advisors LLC now owns 17,575 shares of the company’s stock worth $1,913,000 after purchasing an additional 450 shares during the period. R.M.SINCERBEAUX Capital Management LLC grew its holdings in PepsiCo by 22.5% during the second quarter. R.M.SINCERBEAUX Capital Management LLC now owns 2,450 shares of the company’s stock worth $267,000 after purchasing an additional 450 shares during the period. Edgemoor Investment Advisors Inc. grew its holdings in PepsiCo by 6.7% during the second quarter. Edgemoor Investment Advisors Inc. now owns 7,214 shares of the company’s stock worth $785,000 after purchasing an additional 450 shares during the period. Finally, Sigma Planning Corp grew its holdings in PepsiCo by 1.4% during the second quarter. Sigma Planning Corp now owns 32,120 shares of the company’s stock worth $3,497,000 after purchasing an additional 450 shares during the period. Institutional investors own 70.25% of the company’s stock.
NASDAQ PEP opened at $118.27 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. PepsiCo, Inc. has a 1-year low of $95.94 and a 1-year high of $122.51. The company has a market capitalization of $167.27 billion, a PE ratio of 21.66, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.57 by $0.02. PepsiCo had a net margin of 7.66% and a return on equity of 73.27%. The company had revenue of $16.49 billion during the quarter, compared to the consensus estimate of $16.38 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that PepsiCo, Inc. will post 5.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Friday, December 7th will be given a $0.9275 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 3.14%. PepsiCo’s payout ratio is 70.94%.
In other news, EVP Mehmood Khan sold 168,295 shares of PepsiCo stock in a transaction that occurred on Tuesday, October 23rd. The shares were sold at an average price of $110.12, for a total value of $18,532,645.40. Following the completion of the sale, the executive vice president now directly owns 173,702 shares in the company, valued at $19,128,064.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mike Spanos sold 20,074 shares of PepsiCo stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $112.42, for a total transaction of $2,256,719.08. Following the completion of the sale, the chief executive officer now owns 35,520 shares of the company’s stock, valued at $3,993,158.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 205,893 shares of company stock valued at $22,663,157. 0.27% of the stock is owned by company insiders.
Several equities research analysts have issued reports on the stock. BidaskClub downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. Susquehanna Bancshares cut their price objective on shares of PepsiCo from $136.00 to $135.00 and set a “positive” rating for the company in a research report on Friday, September 28th. Citigroup cut their price objective on shares of PepsiCo from $118.00 to $116.00 and set a “hold” rating for the company in a research report on Wednesday, October 3rd. Guggenheim assumed coverage on shares of PepsiCo in a research report on Thursday, September 13th. They set a “neutral” rating and a $117.00 price objective for the company. Finally, BMO Capital Markets cut their price objective on shares of PepsiCo from $110.00 to $109.00 and set a “market perform” rating for the company in a research report on Wednesday, October 3rd. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average 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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