North American Management Corp lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 170,293 shares of the company’s stock after selling 12,172 shares during the quarter. PepsiCo comprises 3.1% of North American Management Corp’s portfolio, making the stock its 8th biggest holding. North American Management Corp’s holdings in PepsiCo were worth $19,039,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PEP. Altium Wealth Management LLC lifted its stake in PepsiCo by 11.4% during the first quarter. Altium Wealth Management LLC now owns 9,672 shares of the company’s stock valued at $1,055,000 after purchasing an additional 993 shares during the last quarter. Private Vista LLC lifted its stake in PepsiCo by 62.4% during the first quarter. Private Vista LLC now owns 7,522 shares of the company’s stock valued at $821,000 after purchasing an additional 2,889 shares during the last quarter. Rikoon Group LLC lifted its stake in PepsiCo by 12.4% during the first quarter. Rikoon Group LLC now owns 25,014 shares of the company’s stock valued at $2,677,000 after purchasing an additional 2,760 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in PepsiCo by 2.0% during the first quarter. HighPoint Advisor Group LLC now owns 29,875 shares of the company’s stock valued at $3,062,000 after purchasing an additional 593 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in PepsiCo during the first quarter valued at approximately $590,000. Institutional investors and hedge funds own 70.58% of the company’s stock.
In other PepsiCo news, CEO Laxman Narasimhan sold 5,500 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 130,135 shares in the company, valued at approximately $13,897,116.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP David Yawman sold 12,024 shares of the company’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 transaction, the executive vice president now owns 59,133 shares in the company, valued at approximately $6,326,639.67. The disclosure for this sale can be found here. In the last quarter, insiders sold 205,893 shares of company stock worth $22,663,157. Company insiders own 0.27% of the company’s stock.
Several equities research analysts recently commented on PEP shares. BidaskClub downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, August 23rd. Susquehanna Bancshares reduced their price target 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 reduced their price target 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 started coverage on shares of PepsiCo in a research report on Thursday, September 13th. They issued a “neutral” rating and a $117.00 price target for the company. Finally, BMO Capital Markets reduced their price target 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, twelve have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $117.89.
PepsiCo stock opened at $115.82 on Friday. The company has a market capitalization of $166.28 billion, a price-to-earnings ratio of 22.15, a P/E/G ratio of 2.95 and a beta of 0.60. The company has a current ratio of 1.31, a quick ratio of 1.15 and a debt-to-equity ratio of 2.95. PepsiCo, Inc. has a twelve month low of $95.94 and a twelve month high of $122.51.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.02. The firm had revenue of $16.49 billion for the quarter, compared to analyst estimates of $16.38 billion. PepsiCo had a net margin of 7.66% and a return on equity of 73.27%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.48 EPS. Equities research analysts forecast that PepsiCo, Inc. will post 5.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 7th. Shareholders 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 annualized dividend and a yield of 3.20%. PepsiCo’s dividend payout ratio is presently 70.94%.
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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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