EFG Asset Management Americas Corp. purchased a new position in PepsiCo, Inc. (NASDAQ:PEP) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 10,287 shares of the company’s stock, valued at approximately $1,361,000.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. increased its position in PepsiCo by 2.6% during the first quarter. BlackRock Inc. now owns 109,109,695 shares of the company’s stock valued at $13,104,075,000 after acquiring an additional 2,724,092 shares during the last quarter. Capital International Investors purchased a new stake in PepsiCo during the first quarter valued at $227,508,000. Advisor Group Holdings Inc. purchased a new stake in PepsiCo during the first quarter valued at $55,808,000. Franklin Resources Inc. increased its position in PepsiCo by 13.2% during the first quarter. Franklin Resources Inc. now owns 11,136,832 shares of the company’s stock valued at $1,337,534,000 after acquiring an additional 1,298,838 shares during the last quarter. Finally, Swiss National Bank increased its position in PepsiCo by 21.1% during the first quarter. Swiss National Bank now owns 6,487,279 shares of the company’s stock valued at $779,122,000 after acquiring an additional 1,131,600 shares during the last quarter. Hedge funds and other institutional investors own 70.60% of the company’s stock.
In other PepsiCo news, SVP Marie T. Gallagher sold 3,335 shares of the stock in a transaction on Thursday, July 16th. The stock was sold at an average price of $133.32, for a total transaction of $444,622.20. Following the sale, the senior vice president now owns 54,029 shares of the company’s stock, valued at approximately $7,203,146.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Steven C. Williams sold 2,600 shares of the stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $134.32, for a total value of $349,232.00. Following the sale, the chief executive officer now directly owns 67,718 shares in the company, valued at approximately $9,095,881.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,655 shares of company stock worth $3,591,883. Company insiders own 0.13% of the company’s stock.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Monday, July 13th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.07. The firm had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.47 billion. PepsiCo had a return on equity of 54.77% and a net margin of 10.13%. The business’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 earnings per share. Analysts anticipate that PepsiCo, Inc. will post 5.34 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 4th will be paid a $1.0225 dividend. This represents a $4.09 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Thursday, September 3rd. PepsiCo’s payout ratio is 73.96%.
A number of analysts recently commented on the company. Jefferies Financial Group upped their price objective on PepsiCo from $130.00 to $135.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. Cowen upped their price target on PepsiCo from $135.00 to $156.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 29th. Cfra upped their price target on PepsiCo from $145.00 to $150.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, April 28th. Guggenheim upped their price target on PepsiCo from $134.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, April 29th. Finally, SunTrust Banks upped their price target on PepsiCo from $125.00 to $130.00 and gave the stock a “hold” rating in a research report on Tuesday, July 14th. Seven equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. PepsiCo presently has a consensus rating of “Buy” and an average target price of $142.87.
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its 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 Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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