Ramsay Stattman Vela & Price Inc. decreased its position in shares of Pepsico, Inc. (NYSE:PEP) by 2.0% during the first quarter, according to its most recent 13F filing with the SEC. The firm 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 holdings, making the stock its 4th largest position. Ramsay Stattman Vela & Price Inc.’s holdings in Pepsico were worth $7,899,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in PEP. Asset Planning Services Ltd. boosted its position in shares of Pepsico by 66.1% in the first quarter. Asset Planning Services Ltd. now owns 1,003 shares of the company’s stock worth $112,000 after buying an additional 399 shares during the period. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Pepsico during the fourth quarter worth $125,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in shares of Pepsico by 11,898.4% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 146,861 shares of the company’s stock worth $147,000 after buying an additional 145,637 shares during the period. Israel Discount Bank of New York GFN acquired a new position in shares of Pepsico during the fourth quarter worth $150,000. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of Pepsico during the first quarter worth $157,000. 70.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Pepsico, Inc. (NYSE:PEP) opened at 116.61 on Friday. The firm’s 50-day moving average is $116.00 and its 200 day moving average is $111.88. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $118.24. The company has a market cap of $166.23 billion, a price-to-earnings ratio of 24.70 and a beta of 0.67.
Pepsico (NYSE:PEP) last released its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The firm had revenue of $15.71 billion during the quarter, compared to analyst estimates of $15.57 billion. During the same period in the prior year, the company posted $1.35 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities analysts expect that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be paid a dividend of $0.805 per share. The ex-dividend date is Wednesday, August 30th. This represents a $3.22 annualized dividend and a yield of 2.76%. Pepsico’s dividend payout ratio is currently 68.22%.
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A number of research analysts have weighed in on the stock. Vetr raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $125.54 price target on the stock in a research report on Wednesday, April 26th. Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a research report on Friday, July 14th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $133.00 price target (down from $134.00) on shares of Pepsico in a research report on Thursday, July 6th. Jefferies Group LLC boosted their target price on shares of Pepsico from $120.00 to $127.00 and gave the stock a “buy” rating in a research report on Wednesday, April 19th. Finally, BMO Capital Markets cut shares of Pepsico from an “outperform” rating to a “market perform” rating and boosted their target price for the stock from $118.00 to $120.00 in a research report on Wednesday, June 7th. They noted that the move was a valuation call. Five equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $123.04.
In other Pepsico news, EVP Mehmood Khan sold 63,396 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the completion of the transaction, the executive vice president now directly owns 174,273 shares in the company, valued at $20,283,634.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Indra K. Nooyi sold 340,449 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.42, for a total value of $39,635,072.58. Following the transaction, the chief executive officer now owns 733,315 shares of the company’s stock, valued at $85,372,532.30. The disclosure for this sale can be found here. Insiders have sold 856,675 shares of company stock valued at $99,741,258 over the last quarter. Corporate insiders own 0.26% of the company’s stock.
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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