Douglas Lane & Associates LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 152,630 shares of the company’s stock after selling 1,085 shares during the period. Douglas Lane & Associates LLC’s holdings in PepsiCo were worth $17,064,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Rockland Trust Co. lifted its stake in shares of PepsiCo by 2.6% in the 3rd quarter. Rockland Trust Co. now owns 156,590 shares of the company’s stock worth $17,507,000 after acquiring an additional 3,992 shares during the period. Windsor Group LTD lifted its stake in shares of PepsiCo by 28.2% in the 3rd quarter. Windsor Group LTD now owns 13,282 shares of the company’s stock worth $1,485,000 after acquiring an additional 2,920 shares during the period. Chemung Canal Trust Co. lifted its stake in shares of PepsiCo by 41.5% in the 3rd quarter. Chemung Canal Trust Co. now owns 68,039 shares of the company’s stock worth $7,606,000 after acquiring an additional 19,967 shares during the period. Wealth Architects LLC lifted its stake in shares of PepsiCo by 32.7% in the 3rd quarter. Wealth Architects LLC now owns 3,374 shares of the company’s stock worth $377,000 after acquiring an additional 832 shares during the period. Finally, Fulton Bank N.A. lifted its stake in shares of PepsiCo by 4.3% in the 3rd quarter. Fulton Bank N.A. now owns 21,932 shares of the company’s stock worth $2,452,000 after acquiring an additional 901 shares during the period. 70.25% of the stock is owned by hedge funds and other institutional investors.
In other news, CEO Mike Spanos sold 20,074 shares of the business’s stock in a transaction that occurred on Wednesday, October 31st. The shares were sold at an average price of $112.42, for a total transaction of $2,256,719.08. Following the sale, the chief executive officer now owns 35,520 shares in the company, valued at $3,993,158.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mehmood Khan sold 168,295 shares of the business’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 173,702 shares in the company, valued at approximately $19,128,064.24. The disclosure for this sale can be found here. Insiders have sold 205,893 shares of company stock worth $22,663,157 in the last 90 days. 0.27% of the stock is owned by company insiders.
PepsiCo (NASDAQ:PEP) last released its 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 business had revenue of $16.49 billion for the quarter, compared to the consensus estimate of $16.38 billion. During the same period in the previous year, the firm earned $1.48 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, research analysts expect that PepsiCo, Inc. will post 5.65 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Friday, December 7th will be issued a dividend of $0.9275 per share. The ex-dividend date is Thursday, December 6th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 3.21%. PepsiCo’s dividend payout ratio is currently 70.94%.
PEP has been the subject of a number of research analyst reports. Macquarie set a $122.00 price target on shares of PepsiCo and gave the stock an “outperform” rating in a research note on Friday, September 28th. BidaskClub downgraded shares of PepsiCo from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Zacks Investment Research downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 28th. Deutsche Bank dropped their target price on shares of PepsiCo from $118.00 to $116.00 and set a “hold” rating on the stock in a report on Wednesday, October 3rd. Finally, Goldman Sachs Group reiterated a “sell” rating and issued a $108.00 target price on shares of PepsiCo in a report on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. PepsiCo presently has a consensus rating of “Hold” and an average 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.
Further Reading: What are the Different Types of Leveraged Buyouts?
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