Ramsay Stattman Vela & Price Inc. reduced its position in shares of Pepsico, Inc. (NYSE:PEP) by 2.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,616 shares of the company’s stock after selling 1,415 shares during the period. Pepsico accounts for approximately 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.
A number of other hedge funds also recently modified their holdings of the stock. Amtrust Financial Services Inc. acquired a new position in shares of Pepsico during the fourth quarter worth approximately $2,228,000. Stellar Capital Management LLC acquired a new position in shares of Pepsico during the fourth quarter worth approximately $481,000. Leith Wheeler Investment Counsel Ltd. acquired a new position in shares of Pepsico during the first quarter worth approximately $157,000. Glenview Trust Co acquired a new position in shares of Pepsico during the fourth quarter worth approximately $7,726,000. Finally, Cigna Investments Inc. New acquired a new position in shares of Pepsico during the fourth quarter worth approximately $7,843,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.
Pepsico, Inc. (PEP) traded up 0.06% on Friday, reaching $116.37. 2,955,165 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $116.01 and its 200 day moving average price is $112.24. Pepsico, Inc. has a 52-week low of $98.50 and a 52-week high of $118.24. The company has a market cap of $165.89 billion, a PE ratio of 24.64 and a beta of 0.67. Pepsico also was the recipient of some unusual options trading activity on Wednesday. Traders purchased 1,176 call options on the stock. This represents an increase of approximately 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 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 firm had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $15.57 billion. During the same quarter in the prior year, the company posted $1.35 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts expect that Pepsico, Inc. will post $5.16 earnings per share for the current year.
The firm also recently declared 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 2.77%. Pepsico’s dividend payout ratio (DPR) is presently 68.22%.
A number of equities analysts have recently commented on PEP shares. Jefferies Group LLC reiterated a “buy” rating and set a $127.00 price target on shares of Pepsico in a report on Friday, May 19th. Credit Suisse Group reissued a “buy” rating on shares of Pepsico in a research note on Thursday, April 27th. BMO Capital Markets reissued a “buy” rating and set a $115.00 target price on shares of Pepsico in a research note on Thursday, April 27th. Vetr raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $125.54 target price for the company in a research note on Wednesday, April 26th. Finally, Zacks Investment Research raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research note on Friday, July 14th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $123.04.
In related news, EVP Mehmood Khan sold 63,396 shares of the 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 transaction, the executive vice president now owns 174,273 shares in the company, valued at approximately $20,283,634.47. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Indra K. Nooyi sold 340,449 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the completion of the transaction, the chief executive officer now owns 733,315 shares in the company, valued at approximately $85,372,532.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 856,675 shares of company stock worth $99,741,258. 0.26% of the stock is owned by corporate insiders.
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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