Perigon Wealth Management LLC increased its stake 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 2,169 shares of the company’s stock after buying an additional 42 shares during the period. Perigon Wealth Management LLC’s holdings in Pepsico were worth $243,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. Asset Planning Services Ltd. boosted its position in 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 last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in Pepsico during the fourth quarter worth about $125,000. Riggs Asset Managment Co. Inc. boosted its position in Pepsico by 14.9% in the first quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after buying an additional 165 shares during the last quarter. Israel Discount Bank of New York GFN acquired a new position in Pepsico during the fourth quarter worth about $150,000. Finally, Leith Wheeler Investment Counsel Ltd. acquired a new position in Pepsico during the first quarter worth about $157,000. Institutional investors and hedge funds own 70.19% of the company’s stock.
Shares of Pepsico, Inc. (PEP) traded down 0.67% during trading on Friday, hitting $117.60. The company had a trading volume of 3,776,515 shares. The company’s 50 day moving average is $116.16 and its 200 day moving average is $113.32. Pepsico, Inc. has a 1-year low of $98.50 and a 1-year high of $119.39. The firm has a market capitalization of $167.64 billion, a P/E ratio of 24.90 and a beta of 0.67.
Pepsico (NYSE:PEP) last released its earnings results on Tuesday, July 11th. The company reported $1.50 EPS for the quarter, topping the Thomson Reuters’ 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 business had revenue of $15.71 billion for the quarter, compared to the consensus estimate of $15.57 billion. During the same period in the previous 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. Analysts anticipate that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The business also recently announced 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 2.74%. The ex-dividend date is Wednesday, August 30th. Pepsico’s dividend payout ratio (DPR) is 68.22%.
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A number of research firms have issued reports on PEP. BMO Capital Markets cut Pepsico from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $118.00 to $120.00 in a report on Wednesday, June 7th. They noted that the move was a valuation call. Zacks Investment Research cut Pepsico from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Royal Bank Of Canada restated a “hold” rating and set a $115.00 price target on shares of Pepsico in a report on Thursday, May 25th. 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. Finally, Susquehanna Bancshares Inc restated a “positive” rating and set a $133.00 price target (down from $134.00) on shares of Pepsico in a report on Thursday, July 6th. Five analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $123.40.
In other Pepsico news, SVP Marie T. Gallagher sold 41,489 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $116.77, for a total value of $4,844,670.53. Following the sale, the senior vice president now directly owns 76,037 shares of the company’s stock, valued at $8,878,840.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mehmood Khan sold 63,396 shares of the business’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.39, for a total value of $7,378,660.44. Following the completion of the sale, the executive vice president now directly owns 174,273 shares in the company, valued at $20,283,634.47. The disclosure for this sale can be found here. Insiders sold 898,164 shares of company stock worth $104,585,929 over the last three months. 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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