Broderick Brian C lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,615 shares of the company’s stock after selling 1,305 shares during the quarter. Broderick Brian C’s holdings in PepsiCo were worth $3,646,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of PEP. Fundsmith Equity Fund L.P. purchased a new stake in PepsiCo during the second quarter valued at $836,330,000. Bank of New York Mellon Corp increased its position in PepsiCo by 20.4% during the second quarter. Bank of New York Mellon Corp now owns 18,389,677 shares of the company’s stock valued at $2,002,085,000 after acquiring an additional 3,115,305 shares during the last quarter. Vontobel Asset Management Inc. increased its position in PepsiCo by 287.8% during the second quarter. Vontobel Asset Management Inc. now owns 2,610,837 shares of the company’s stock valued at $291,915,000 after acquiring an additional 1,937,620 shares during the last quarter. BlackRock Inc. increased its position in PepsiCo by 1.4% during the second quarter. BlackRock Inc. now owns 93,852,156 shares of the company’s stock valued at $10,217,684,000 after acquiring an additional 1,291,012 shares during the last quarter. Finally, Cornerstone Wealth Management LLC increased its position in PepsiCo by 11,356.2% during the second quarter. Cornerstone Wealth Management LLC now owns 1,174,945 shares of the company’s stock valued at $10,730,000 after acquiring an additional 1,164,689 shares during the last quarter. Institutional investors own 70.25% of the company’s stock.
A number of analysts recently commented on the company. ValuEngine upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research cut PepsiCo from a “hold” rating to a “sell” rating in a research report on Wednesday, November 28th. BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. Morgan Stanley restated an “overweight” rating on shares of PepsiCo in a research report on Friday, October 5th. Finally, Macquarie cut PepsiCo from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $122.00 to $107.00 in a research report on Friday, October 5th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $117.89.
Shares of PEP opened at $121.94 on Monday. 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 capitalization of $172.13 billion, a price-to-earnings ratio of 23.32, a P/E/G ratio of 3.05 and a beta of 0.58. PepsiCo, Inc. has a 52 week low of $95.94 and a 52 week high of $122.51.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Tuesday, October 2nd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $16.49 billion during the quarter, compared to analysts’ expectations of $16.38 billion. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The business’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.48 earnings per share. As a group, research analysts anticipate that PepsiCo, Inc. will post 5.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Friday, December 7th will be paid a $0.9275 dividend. This represents a $3.71 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Thursday, December 6th. PepsiCo’s dividend payout ratio (DPR) is 70.94%.
In other news, EVP David Yawman sold 12,024 shares of the company’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $106.99, for a total value of $1,286,447.76. Following the completion of the transaction, the executive vice president now owns 59,133 shares of the company’s stock, valued at $6,326,639.67. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mehmood Khan sold 168,295 shares of the company’s stock in a transaction dated Tuesday, October 23rd. The stock was sold at an average price of $110.12, for a total value of $18,532,645.40. Following the completion of the transaction, the executive vice president now directly owns 173,702 shares of the company’s stock, valued at approximately $19,128,064.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 205,893 shares of company stock valued at $22,663,157. Corporate insiders own 0.27% of the company’s stock.
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PepsiCo Company Profile
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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