Investment House LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,354 shares of the company’s stock after selling 4,376 shares during the quarter. Investment House LLC’s holdings in PepsiCo were worth $6,189,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. WP Advisors LLC purchased a new stake in PepsiCo in the 2nd quarter valued at approximately $118,000. Fort L.P. purchased a new stake in PepsiCo in the 2nd quarter valued at approximately $125,000. Atlas Capital Advisors LLC lifted its stake in PepsiCo by 85.7% in the 2nd quarter. Atlas Capital Advisors LLC now owns 1,300 shares of the company’s stock valued at $149,000 after buying an additional 600 shares in the last quarter. Independent Order of Foresters purchased a new stake in PepsiCo in the 2nd quarter valued at approximately $152,000. Finally, Robinson Value Management Ltd. purchased a new stake in PepsiCo in the 2nd quarter valued at approximately $171,000. 70.25% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a report on Tuesday, September 11th. JPMorgan Chase & Co. set a $124.00 price target on PepsiCo and gave the company a “buy” rating in a report on Wednesday, October 3rd. Morgan Stanley cut their price target on PepsiCo from $127.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, October 4th. BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Friday, October 26th. Finally, Deutsche Bank cut their price target on PepsiCo from $118.00 to $116.00 and set a “hold” rating for the company in a report on Wednesday, October 3rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $117.89.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, October 2nd. The company reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The business had revenue of $16.49 billion during the quarter, compared to the consensus estimate of $16.38 billion. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.48 EPS. On average, analysts forecast that PepsiCo, Inc. will post 5.65 earnings per share for the current fiscal year.
The company also recently disclosed 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 of this dividend is Thursday, December 6th. This represents a $3.71 dividend on an annualized basis and a dividend yield of 3.21%. PepsiCo’s payout ratio is 70.94%.
In other news, CEO Mike Spanos sold 20,074 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 35,520 shares in the company, valued at approximately $3,993,158.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Mehmood Khan sold 168,295 shares of the company’s stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $110.12, for a total value of $18,532,645.40. Following the sale, the executive vice president now owns 173,702 shares of the company’s stock, valued at $19,128,064.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 205,893 shares of company stock valued at $22,663,157. Insiders own 0.27% of the company’s stock.
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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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