Sigma Investment Counselors Inc. increased its position in Pepsico, Inc. (NYSE:PEP) by 31.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,315 shares of the company’s stock after buying an additional 798 shares during the period. Sigma Investment Counselors Inc.’s holdings in Pepsico were worth $371,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Gierl Augustine Investment Management Inc increased its stake in Pepsico by 0.8% in the first quarter. Gierl Augustine Investment Management Inc now owns 1,846 shares of the company’s stock worth $207,000 after buying an additional 14 shares during the last quarter. Willingdon Wealth Management increased its stake in Pepsico by 0.3% in the first quarter. Willingdon Wealth Management now owns 6,381 shares of the company’s stock worth $714,000 after buying an additional 16 shares during the last quarter. Univest Corp of Pennsylvania increased its stake in Pepsico by 0.7% in the first quarter. Univest Corp of Pennsylvania now owns 2,350 shares of the company’s stock worth $263,000 after buying an additional 17 shares during the last quarter. Alexandria Capital LLC increased its stake in Pepsico by 0.5% in the first quarter. Alexandria Capital LLC now owns 4,160 shares of the company’s stock worth $465,000 after buying an additional 21 shares during the last quarter. Finally, Clear Harbor Asset Management LLC increased its stake in Pepsico by 0.6% in the first quarter. Clear Harbor Asset Management LLC now owns 4,159 shares of the company’s stock worth $465,000 after buying an additional 26 shares during the last quarter. 70.44% of the stock is owned by institutional investors.
Shares of Pepsico, Inc. (NYSE PEP) opened at 115.61 on Thursday. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $118.24. The company has a market capitalization of $164.80 billion, a P/E ratio of 24.48 and a beta of 0.67. The firm has a 50-day moving average of $116.01 and a 200 day moving average of $112.24. Pepsico also saw some unusual options trading activity on Wednesday. Traders purchased 1,176 call options on the company. This represents an increase of 536% compared to the typical daily volume of 185 call options.
Pepsico (NYSE:PEP) last posted its quarterly earnings data on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $15.57 billion. During the same period last year, the company earned $1.35 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, analysts anticipate that Pepsico, Inc. will post $5.16 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a $0.805 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.79%. Pepsico’s dividend payout ratio (DPR) is presently 68.22%.
ILLEGAL ACTIVITY WARNING: “Pepsico, Inc. (PEP) Shares Bought by Sigma Investment Counselors Inc.” was first posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://stocknewstimes.com/2017/08/03/pepsico-inc-pep-shares-bought-by-sigma-investment-counselors-inc.html.
A number of research firms have recently issued reports on PEP. Zacks Investment Research lowered shares of Pepsico from a “hold” rating to a “sell” rating in a report on Tuesday, April 18th. BMO Capital Markets restated a “buy” rating and set a $115.00 price target on shares of Pepsico in a report on Thursday, April 27th. Jefferies Group LLC restated a “buy” rating and set a $127.00 price target on shares of Pepsico in a report on Friday, May 19th. Susquehanna Bancshares Inc upgraded shares of Pepsico from a “neutral” rating to a “positive” rating and boosted their price target for the company from $118.00 to $132.00 in a report on Wednesday, April 12th. Finally, Vetr upgraded shares of Pepsico from a “buy” rating to a “strong-buy” rating and set a $125.54 price target on the stock in a report on Wednesday, May 3rd. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Pepsico has an average rating of “Buy” and a consensus price target of $123.04.
In other news, EVP Mehmood Khan sold 63,396 shares of Pepsico stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $116.39, for a total value of $7,378,660.44. Following the sale, 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 available through the SEC website. Also, Chairman Indra K. Nooyi sold 452,830 shares of Pepsico stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the completion of the sale, the chairman now owns 733,315 shares in the company, valued at $85,387,198.60. The disclosure for this sale can be found here. Insiders sold 856,675 shares of company stock worth $99,741,258 over the last quarter. 0.26% of the stock is owned by corporate insiders.
Pepsico Company Profile
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).
Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pepsico, Inc. (NYSE:PEP).
Receive News & Ratings for Pepsico Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pepsico Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
