Demars Financial Group LLC acquired a new position in PepsiCo, Inc. (NASDAQ:PEP) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 16,682 shares of the company’s stock, valued at approximately $2,206,000. PepsiCo comprises 1.7% of Demars Financial Group LLC’s investment portfolio, making the stock its 19th biggest holding.
Several other large investors have also recently made changes to their positions in PEP. Vanguard Group Inc. raised its position in PepsiCo by 6.0% during the second quarter. Vanguard Group Inc. now owns 124,559,499 shares of the company’s stock valued at $16,474,240,000 after acquiring an additional 7,075,509 shares in the last quarter. Nordea Investment Management AB raised its position in PepsiCo by 161.6% during the second quarter. Nordea Investment Management AB now owns 5,935,150 shares of the company’s stock valued at $781,896,000 after acquiring an additional 3,666,099 shares in the last quarter. Capital International Investors purchased a new position in PepsiCo during the first quarter valued at approximately $227,508,000. Advisor Group Holdings Inc. purchased a new position in PepsiCo during the first quarter valued at approximately $55,808,000. Finally, Franklin Resources Inc. raised 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 in the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.
In other PepsiCo news, EVP Ronald Schellekens sold 7,611 shares of PepsiCo stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $135.35, for a total value of $1,030,148.85. Following the sale, the executive vice president now owns 36,639 shares in the company, valued at $4,959,088.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marie T. Gallagher sold 3,335 shares of PepsiCo stock in a transaction on Thursday, July 16th. The shares were sold at an average price of $133.32, for a total value of $444,622.20. Following the completion of the sale, the senior vice president now owns 54,029 shares in the company, valued at approximately $7,203,146.28. The disclosure for this sale can be found here. Insiders have sold 26,655 shares of company stock worth $3,591,883 in the last three months. 0.13% of the stock is currently owned by corporate insiders.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Monday, July 13th. The company reported $1.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.07. The firm had revenue of $15.95 billion for 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 revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 earnings per share. Sell-side analysts expect that PepsiCo, Inc. will post 5.34 earnings per share for the current 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 paid a dividend of $1.0225 per share. This represents a $4.09 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date of this dividend is Thursday, September 3rd. PepsiCo’s dividend payout ratio (DPR) is currently 73.96%.
Several research analysts recently weighed in on the company. BidaskClub upgraded PepsiCo from a “sell” rating to a “hold” rating in a research report on Saturday, September 5th. Jefferies Financial Group raised their price objective on PepsiCo from $130.00 to $135.00 and gave the company a “hold” rating in a report on Thursday, July 9th. Finally, SunTrust Banks raised their price objective on PepsiCo from $125.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Eight equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target 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.
See Also: Exchange-Traded Funds (ETFs)
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