Benin Management CORP Has $11.38 Million Stake in PepsiCo, Inc. (PEP)

Benin Management CORP lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 101,752 shares of the company’s stock after selling 3,826 shares during the period. PepsiCo makes up about 4.6% of Benin Management CORP’s holdings, making the stock its 4th biggest position. Benin Management CORP’s holdings in PepsiCo were worth $11,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. New England Asset Management Inc. grew its stake in PepsiCo by 4.7% during the second quarter. New England Asset Management Inc. now owns 41,126 shares of the company’s stock valued at $4,478,000 after acquiring an additional 1,850 shares in the last quarter. Bank of Montreal Can grew its stake in PepsiCo by 19.9% during the third quarter. Bank of Montreal Can now owns 3,227,392 shares of the company’s stock valued at $360,823,000 after acquiring an additional 536,023 shares in the last quarter. Fundsmith Equity Fund L.P. purchased a new position in PepsiCo in the 2nd quarter worth approximately $836,330,000. Worldquant Millennium Quantitative Strategies LLC purchased a new position in PepsiCo in the 2nd quarter worth approximately $4,223,000. Finally, Buckingham Capital Management Inc. grew its stake in PepsiCo by 5.6% in the 2nd quarter. Buckingham Capital Management Inc. now owns 31,907 shares of the company’s stock worth $3,474,000 after buying an additional 1,689 shares in the last quarter. 70.58% of the stock is currently owned by institutional investors.

In other news, CEO Laxman Narasimhan sold 5,500 shares of the company’s stock in a transaction on Thursday, October 4th. The shares were sold at an average price of $106.79, for a total value of $587,345.00. Following the completion of the sale, the chief executive officer now owns 130,135 shares of the company’s stock, valued at approximately $13,897,116.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Mike Spanos sold 20,074 shares of the company’s stock in a transaction 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 directly owns 35,520 shares of the company’s stock, valued at approximately $3,993,158.40. The disclosure for this sale can be found here. Insiders sold a total of 205,893 shares of company stock valued at $22,663,157 in the last ninety days. 0.27% of the stock is owned by corporate insiders.

Shares of PepsiCo stock opened at $115.82 on Friday. PepsiCo, Inc. has a 52-week low of $95.94 and a 52-week high of $122.51. The firm has a market capitalization of $166.28 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.95 and a beta of 0.60. 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 (NASDAQ:PEP) last announced 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 company had revenue of $16.49 billion during the quarter, compared to analysts’ expectations of $16.38 billion. During the same quarter in the prior year, the company earned $1.48 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. As a group, equities research analysts forecast that PepsiCo, Inc. will post 5.65 EPS for the current 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. The ex-dividend date is Thursday, December 6th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 3.20%. PepsiCo’s dividend payout ratio (DPR) is 70.94%.

A number of equities analysts have commented on PEP shares. ValuEngine raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research note on Saturday, December 1st. Macquarie set a $122.00 price target on shares of PepsiCo and gave the stock an “outperform” rating in a research note on Friday, September 28th. BidaskClub cut shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, September 27th. Zacks Investment Research cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 28th. Finally, Deutsche Bank cut their price target on shares of PepsiCo from $118.00 to $116.00 and set a “hold” rating for the company in a research note on Wednesday, October 3rd. Two 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. PepsiCo has a consensus rating of “Hold” and a consensus price target of $117.89.

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About PepsiCo

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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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