Davis R M Inc. raised its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 364,142 shares of the company’s stock after acquiring an additional 11,787 shares during the quarter. PepsiCo makes up 1.5% of Davis R M Inc.’s portfolio, making the stock its 24th biggest position. Davis R M Inc.’s holdings in PepsiCo were worth $40,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently bought and sold shares of PEP. Fundsmith Equity Fund L.P. acquired a new stake in shares of PepsiCo during the second quarter worth $836,330,000. Bank of New York Mellon Corp raised its holdings in shares of 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 worth $2,002,085,000 after purchasing an additional 3,115,305 shares during the period. Vontobel Asset Management Inc. raised its holdings in shares of PepsiCo by 287.8% during the second quarter. Vontobel Asset Management Inc. now owns 2,610,837 shares of the company’s stock worth $291,915,000 after purchasing an additional 1,937,620 shares during the period. BlackRock Inc. raised its holdings in shares of PepsiCo by 1.4% during the second quarter. BlackRock Inc. now owns 93,852,156 shares of the company’s stock worth $10,217,684,000 after purchasing an additional 1,291,012 shares during the period. Finally, Cornerstone Wealth Management LLC raised its holdings in shares of PepsiCo by 11,356.2% during the second quarter. Cornerstone Wealth Management LLC now owns 1,174,945 shares of the company’s stock worth $10,730,000 after purchasing an additional 1,164,689 shares during the period. Hedge funds and other institutional investors own 70.58% of the company’s stock.
In other news, CEO Laxman Narasimhan sold 5,500 shares of the firm’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $106.79, for a total transaction of $587,345.00. Following the completion of 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 legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mike Spanos sold 20,074 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now 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. In the last three months, insiders have sold 205,893 shares of company stock worth $22,663,157. 0.27% of the stock is owned by corporate insiders.
PepsiCo stock opened at $115.82 on Friday. The stock has a market cap 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 debt-to-equity ratio of 2.95, a quick ratio of 1.15 and a current ratio of 1.31. PepsiCo, Inc. has a 52 week low of $95.94 and a 52 week high of $122.51.
PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, October 2nd. The company reported $1.59 EPS 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 analysts’ expectations of $16.38 billion. PepsiCo had a net margin of 7.66% and a return on equity of 73.27%. PepsiCo’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $1.48 EPS. As a group, research analysts forecast that PepsiCo, Inc. will post 5.65 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Shareholders of record on Friday, December 7th will be paid a dividend of $0.9275 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $3.71 annualized dividend and a yield of 3.20%. PepsiCo’s payout ratio is 70.94%.
A number of analysts have weighed in on PEP shares. ValuEngine raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. Macquarie set a $122.00 target price on shares of PepsiCo and gave the stock an “outperform” rating in a report on Friday, September 28th. BidaskClub cut shares of PepsiCo from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Zacks Investment Research cut shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Finally, Deutsche Bank dropped their target price on shares of PepsiCo from $118.00 to $116.00 and set a “hold” rating on the stock in a report on Wednesday, October 3rd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target 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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