Ramsay Stattman Vela & Price Inc. lowered its position in shares of Pepsico, Inc. (NYSE:PEP) by 2.0% during the first quarter, according to its most recent filing with the SEC. The fund owned 70,616 shares of the company’s stock after selling 1,415 shares during the period. Pepsico comprises 3.6% of Ramsay Stattman Vela & Price Inc.’s investment portfolio, making the stock its 4th largest position. Ramsay Stattman Vela & Price Inc.’s holdings in Pepsico were worth $7,899,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Wilkins Investment Counsel Inc. boosted its stake in shares of Pepsico by 3.7% in the fourth quarter. Wilkins Investment Counsel Inc. now owns 64,247 shares of the company’s stock worth $6,722,000 after buying an additional 2,300 shares during the period. Cypress Capital Management LLC boosted its stake in shares of Pepsico by 685.6% in the fourth quarter. Cypress Capital Management LLC now owns 16,026 shares of the company’s stock worth $1,677,000 after buying an additional 13,986 shares during the period. Frontier Wealth Management LLC boosted its stake in shares of Pepsico by 13.6% in the fourth quarter. Frontier Wealth Management LLC now owns 46,557 shares of the company’s stock worth $4,871,000 after buying an additional 5,557 shares during the period. Trexquant Investment LP boosted its stake in shares of Pepsico by 166.7% in the fourth quarter. Trexquant Investment LP now owns 16,800 shares of the company’s stock worth $1,758,000 after buying an additional 10,500 shares during the period. Finally, First Capital Advisors Group LLC. acquired a new stake in shares of Pepsico during the fourth quarter worth approximately $599,000. Hedge funds and other institutional investors own 70.40% of the company’s stock.
Pepsico, Inc. (NYSE:PEP) opened at 115.01 on Wednesday. The stock has a market cap of $163.95 billion, a price-to-earnings ratio of 24.36 and a beta of 0.68. Pepsico, Inc. has a 12 month low of $98.50 and a 12 month high of $118.24. The firm has a 50-day moving average price of $116.21 and a 200-day moving average price of $111.34.
Pepsico (NYSE:PEP) last issued its quarterly earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.10. The business had revenue of $15.71 billion during the quarter, compared to the consensus estimate of $15.57 billion. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company earned $1.35 earnings per share. Equities research analysts expect that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be issued a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.80%. The ex-dividend date is Wednesday, August 30th. Pepsico’s dividend payout ratio is presently 68.22%.
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A number of analysts have recently commented on the stock. Stifel Nicolaus restated a “hold” rating on shares of Pepsico in a report on Wednesday, May 31st. BMO Capital Markets cut shares of Pepsico from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $118.00 to $120.00 in a report on Wednesday, June 7th. They noted that the move was a valuation call. Royal Bank Of Canada restated a “hold” rating and set a $115.00 target price on shares of Pepsico in a report on Thursday, May 25th. BidaskClub cut shares of Pepsico from a “buy” rating to a “hold” rating in a report on Saturday, July 1st. Finally, Jefferies Group LLC restated a “buy” rating and set a $130.00 target price (up previously from $127.00) on shares of Pepsico in a report on Thursday, July 6th. Five investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Pepsico presently has a consensus rating of “Buy” and a consensus price target of $123.04.
About Pepsico
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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