Westover Capital Advisors LLC lowered its holdings in Pepsico, Inc. (NYSE:PEP) by 18.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,837 shares of the company’s stock after selling 1,287 shares during the period. Westover Capital Advisors LLC’s holdings in Pepsico were worth $674,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Barnett & Company Inc. lifted its holdings in Pepsico by 270.4% during the 2nd quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after purchasing an additional 657 shares in the last quarter. Aviance Capital Management LLC purchased a new stake in Pepsico during the 2nd quarter worth about $111,000. Asset Planning Services Ltd. increased its stake in Pepsico by 0.3% in the 2nd quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock worth $116,000 after acquiring an additional 3 shares during the last quarter. Patriot Financial Group Insurance Agency LLC increased its stake in Pepsico by 5.9% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,211 shares of the company’s stock worth $138,000 after acquiring an additional 67 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its stake in Pepsico by 14.9% in the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after acquiring an additional 165 shares during the last quarter. 70.50% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Pepsico from a “sell” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets restated a “hold” rating and issued a $120.00 target price on shares of Pepsico in a research note on Wednesday, September 6th. Credit Suisse Group restated a “hold” rating and issued a $122.00 target price (down from $124.00) on shares of Pepsico in a research note on Thursday, October 5th. Royal Bank of Canada reiterated a “hold” rating on shares of Pepsico in a research report on Sunday, November 12th. Finally, Macquarie initiated coverage on Pepsico in a research report on Thursday, September 14th. They set an “outperform” rating and a $125.00 price objective on the stock. Eight research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $121.96.
Pepsico (NYSE:PEP) last released its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.05. The business had revenue of $16.24 billion during the quarter, compared to analysts’ expectations of $16.35 billion. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The business’s revenue was up 1.3% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. equities analysts forecast that Pepsico, Inc. will post 5.22 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Stockholders of record on Friday, December 1st will be paid a $0.805 dividend. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Thursday, November 30th. Pepsico’s payout ratio is presently 66.53%.
In other news, insider Ramon Laguarta sold 21,449 shares of the firm’s stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total value of $2,370,328.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.26% of the company’s stock.
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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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