PepsiCo, Inc. (PEP) Stake Lowered by Oakbrook Investments LLC

Oakbrook Investments LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 273,976 shares of the company’s stock after selling 84,946 shares during the period. PepsiCo comprises approximately 1.7% of Oakbrook Investments LLC’s investment portfolio, making the stock its 17th largest holding. Oakbrook Investments LLC’s holdings in PepsiCo were worth $30,631,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PEP. BlackRock Inc. increased its holdings in PepsiCo by 1.4% in the 2nd quarter. BlackRock Inc. now owns 93,852,156 shares of the company’s stock worth $10,217,684,000 after acquiring an additional 1,291,012 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in PepsiCo by 20.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 18,389,677 shares of the company’s stock worth $2,002,085,000 after acquiring an additional 3,115,305 shares during the last quarter. FMR LLC increased its holdings in PepsiCo by 4.9% in the 2nd quarter. FMR LLC now owns 10,129,130 shares of the company’s stock worth $1,102,759,000 after acquiring an additional 471,913 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in PepsiCo by 4.3% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 9,149,424 shares of the company’s stock worth $996,098,000 after acquiring an additional 376,620 shares during the last quarter. Finally, Yacktman Asset Management LP increased its holdings in PepsiCo by 0.6% in the 2nd quarter. Yacktman Asset Management LP now owns 7,852,617 shares of the company’s stock worth $854,914,000 after acquiring an additional 46,195 shares during the last quarter. Institutional investors own 70.58% of the company’s stock.

Several equities research analysts recently weighed in on the company. ValuEngine raised PepsiCo from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. Zacks Investment Research lowered PepsiCo from a “hold” rating to a “sell” rating in a report on Wednesday, November 28th. BidaskClub raised PepsiCo from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. Morgan Stanley reissued an “overweight” rating on shares of PepsiCo in a report on Friday, October 5th. Finally, Macquarie lowered PepsiCo from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $122.00 to $107.00 in a report on Friday, October 5th. Two 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. PepsiCo currently has a consensus rating of “Hold” and an average target price of $117.89.

PEP stock opened at $115.82 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.31 and a debt-to-equity ratio of 2.95. 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. PepsiCo, Inc. has a twelve month low of $95.94 and a twelve month high of $122.51.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.57 by $0.02. The business had revenue of $16.49 billion during the quarter, compared to analyst estimates of $16.38 billion. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.48 EPS. Sell-side analysts expect that PepsiCo, Inc. will post 5.65 EPS for the current fiscal 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 issued a dividend of $0.9275 per share. This represents a $3.71 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Thursday, December 6th. PepsiCo’s payout ratio is presently 70.94%.

In other PepsiCo news, CEO Mike Spanos sold 20,074 shares of PepsiCo stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $112.42, for a total transaction of $2,256,719.08. Following the completion of the transaction, the chief executive officer now owns 35,520 shares of the company’s stock, valued at approximately $3,993,158.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP David Yawman sold 12,024 shares of PepsiCo stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $106.99, for a total value of $1,286,447.76. Following the transaction, the executive vice president now directly owns 59,133 shares of the company’s stock, valued at approximately $6,326,639.67. The disclosure for this sale can be found here. Insiders have sold a total of 205,893 shares of company stock valued at $22,663,157 in the last ninety days. 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.

Further Reading: What are no-load funds?

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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