Cornerstone Capital Inc. Has $21.35 Million Holdings in PepsiCo, Inc. (PEP)

Cornerstone Capital Inc. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 88.8% during the second quarter, Holdings Channel reports. The fund owned 19,658 shares of the company’s stock after selling 156,210 shares during the quarter. PepsiCo comprises approximately 3.6% of Cornerstone Capital Inc.’s holdings, making the stock its 6th biggest position. Cornerstone Capital Inc.’s holdings in PepsiCo were worth $21,345,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEP. Bank of New York Mellon Corp increased its holdings in PepsiCo by 20.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 18,389,677 shares of the company’s stock valued at $2,002,085,000 after acquiring an additional 3,115,305 shares during the last quarter. Millennium Management LLC increased its holdings in PepsiCo by 2,616.0% in the 1st quarter. Millennium Management LLC now owns 1,447,539 shares of the company’s stock valued at $157,999,000 after acquiring an additional 1,394,243 shares during the last quarter. BlackRock Inc. increased its holdings in PepsiCo by 1.4% in the 2nd quarter. BlackRock Inc. now owns 93,852,156 shares of the company’s stock valued at $10,217,684,000 after acquiring an additional 1,291,012 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in PepsiCo by 11,356.2% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,174,945 shares of the company’s stock valued at $10,730,000 after acquiring an additional 1,164,689 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in PepsiCo by 22.8% in the 2nd quarter. American Century Companies Inc. now owns 5,440,832 shares of the company’s stock valued at $592,343,000 after acquiring an additional 1,011,788 shares during the last quarter. Institutional investors own 70.64% of the company’s stock.

In related news, EVP Mehmood Khan sold 168,295 shares of PepsiCo stock in a transaction dated Tuesday, October 23rd. The shares were sold at an average price of $110.12, for a total transaction of $18,532,645.40. Following the completion of the transaction, the executive vice president now directly owns 173,702 shares of the company’s stock, valued at approximately $19,128,064.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mike Spanos sold 20,074 shares of PepsiCo stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $112.42, for a total transaction of $2,256,719.08. Following the transaction, the chief executive officer now directly owns 35,520 shares of the company’s stock, valued at $3,993,158.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 205,893 shares of company stock valued at $22,663,157. 0.27% of the stock is owned by corporate insiders.

PepsiCo stock opened at $116.06 on Friday. PepsiCo, Inc. has a twelve month low of $95.94 and a twelve month high of $122.51. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.15 and a current ratio of 1.31. The stock has a market capitalization of $162.63 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.88 and a beta of 0.58.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, October 2nd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. PepsiCo had a net margin of 7.66% and a return on equity of 73.27%. The firm had revenue of $16.49 billion during the quarter, compared to analysts’ expectations of $16.38 billion. During the same period in the previous year, the company earned $1.48 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities analysts forecast that PepsiCo, Inc. will post 5.65 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the stock. Guggenheim assumed coverage on shares of PepsiCo in a report on Thursday, September 13th. They issued a “neutral” rating and a $117.00 target price on the stock. Goldman Sachs Group restated a “sell” rating and issued a $108.00 target price on shares of PepsiCo in a report on Monday, August 20th. BidaskClub upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. SunTrust Banks boosted their target price on shares of PepsiCo to $110.00 and gave the stock a “hold” rating in a report on Tuesday, July 24th. Finally, Zacks Investment Research upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $126.00 target price on the stock in a report on Tuesday, September 11th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $117.89.

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PepsiCo Company Profile

PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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