Livforsakringsbolaget Skandia Omsesidigt lowered its position in shares of Pepsico, Inc. (NYSE:PEP) by 57.3% during the first quarter, according to its most recent filing with the SEC. The fund owned 40,804 shares of the company’s stock after selling 54,800 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Pepsico were worth $4,564,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. Amtrust Financial Services Inc. purchased a new stake in shares of Pepsico during the fourth quarter valued at approximately $2,228,000. Stellar Capital Management LLC purchased a new stake in shares of Pepsico during the fourth quarter valued at approximately $481,000. Leith Wheeler Investment Counsel Ltd. purchased a new stake in shares of Pepsico during the first quarter valued at approximately $157,000. Cigna Investments Inc. New purchased a new stake in shares of Pepsico during the fourth quarter valued at approximately $7,843,000. Finally, Norges Bank purchased a new stake in shares of Pepsico during the fourth quarter valued at approximately $1,492,411,000. 70.40% of the stock is currently owned by institutional investors.
Pepsico, Inc. (NYSE:PEP) opened at 115.51 on Friday. The firm has a 50-day moving average of $116.09 and a 200 day moving average of $111.40. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $118.24. The firm has a market cap of $164.66 billion, a price-to-earnings ratio of 24.46 and a beta of 0.67. Pepsico also was the target of some unusual options trading activity on Wednesday. Investors acquired 1,176 call options on the stock. This represents an increase of 536% compared to the average volume of 185 call options.
Pepsico (NYSE:PEP) last announced its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.10. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The business had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. During the same period in the prior year, the business posted $1.35 earnings per share. Pepsico’s revenue was up 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Pepsico, Inc. will post $5.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be issued a $0.805 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a yield of 2.79%. Pepsico’s dividend payout ratio is currently 68.22%.
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PEP has been the topic of several recent analyst reports. Credit Suisse Group boosted their target price on Pepsico from $115.00 to $121.00 and gave the stock a “buy” rating in a report on Thursday, March 23rd. Royal Bank Of Canada reissued a “hold” rating and set a $115.00 target price on shares of Pepsico in a report on Thursday, March 23rd. UBS AG raised Pepsico from a “neutral” rating to a “positive” rating in a report on Wednesday, April 12th. Susquehanna Bancshares Inc raised Pepsico from a “neutral” rating to a “positive” rating and boosted their target price for the stock from $118.00 to $132.00 in a report on Wednesday, April 12th. Finally, Zacks Investment Research cut Pepsico from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. Five analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average 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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