Teachers Retirement System of The State of Kentucky lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 7.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 283,775 shares of the company’s stock after selling 22,079 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in PepsiCo were worth $37,532,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cottage Street Advisors LLC lifted its stake in PepsiCo by 0.4% during the 2nd quarter. Cottage Street Advisors LLC now owns 19,141 shares of the company’s stock valued at $2,532,000 after acquiring an additional 78 shares during the period. Strategy Asset Managers LLC lifted its stake in shares of PepsiCo by 1.3% in the 2nd quarter. Strategy Asset Managers LLC now owns 5,875 shares of the company’s stock worth $777,000 after purchasing an additional 78 shares during the period. Reik & CO. LLC lifted its stake in shares of PepsiCo by 1.2% in the 2nd quarter. Reik & CO. LLC now owns 6,504 shares of the company’s stock worth $860,000 after purchasing an additional 80 shares during the period. Krilogy Financial LLC lifted its stake in shares of PepsiCo by 3.5% in the 2nd quarter. Krilogy Financial LLC now owns 2,455 shares of the company’s stock worth $325,000 after purchasing an additional 84 shares during the period. Finally, Detalus Advisors LLC lifted its stake in shares of PepsiCo by 0.7% in the 2nd quarter. Detalus Advisors LLC now owns 11,583 shares of the company’s stock worth $1,532,000 after purchasing an additional 84 shares during the period. Institutional investors and hedge funds own 70.16% of the company’s stock.
In related news, CEO Steven C. Williams sold 2,600 shares of the firm’s 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 completion of the transaction, the chief executive officer now directly owns 67,718 shares of the company’s stock, valued at $9,095,881.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ramon Laguarta sold 13,109 shares of the firm’s stock in a transaction on Friday, July 17th. The shares were sold at an average price of $134.86, for a total transaction of $1,767,879.74. Following the completion of the transaction, the chief executive officer now directly owns 281,972 shares of the company’s stock, valued at $38,026,743.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,655 shares of company stock valued at $3,591,883. Insiders own 0.13% of the company’s stock.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Monday, July 13th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.07. PepsiCo had a net margin of 10.13% and a return on equity of 54.77%. The business had revenue of $15.95 billion during the quarter, compared to analyst estimates of $15.47 billion. During the same period last year, the firm posted $1.54 EPS. The company’s revenue was down 3.1% on a year-over-year basis. As a group, sell-side analysts expect that PepsiCo, Inc. will post 5.34 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 4th will be issued a dividend of $1.0225 per share. This represents a $4.09 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date is Thursday, September 3rd. PepsiCo’s dividend payout ratio (DPR) is currently 73.96%.
Several equities analysts have recently weighed in on the stock. Jefferies Financial Group increased their price objective on shares of PepsiCo from $130.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. BidaskClub upgraded shares of PepsiCo from a “sell” rating to a “hold” rating in a research note on Saturday, September 5th. Finally, SunTrust Banks increased their price objective on shares of PepsiCo from $125.00 to $130.00 and gave the stock a “hold” rating in a research note on Tuesday, July 14th. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $142.87.
PepsiCo Company Profile
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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