Corundum Group Inc. Reduces Stake in Pepsico, Inc. (PEP)

Corundum Group Inc. cut its position in Pepsico, Inc. (NYSE:PEP) by 3.8% during the first quarter, Holdings Channel reports. The fund owned 2,326 shares of the company’s stock after selling 91 shares during the period. Pepsico makes up 0.3% of Corundum Group Inc.’s holdings, making the stock its 22nd largest position. Corundum Group Inc.’s holdings in Pepsico were worth $260,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Aveo Capital Partners LLC acquired a new position in shares of Pepsico during the fourth quarter worth approximately $549,000. Osborn Williams & Donohoe LLC boosted its position in shares of Pepsico by 2.1% in the fourth quarter. Osborn Williams & Donohoe LLC now owns 95,536 shares of the company’s stock worth $9,996,000 after buying an additional 1,952 shares during the last quarter. Robinson Value Management Ltd. acquired a new position in shares of Pepsico during the fourth quarter worth approximately $506,000. Hall Laurie J Trustee acquired a new position in shares of Pepsico during the fourth quarter worth approximately $4,917,000. Finally, NN Investment Partners Holdings N.V. boosted its position in shares of Pepsico by 0.6% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 343,748 shares of the company’s stock worth $35,966,000 after buying an additional 2,129 shares during the last quarter. 71.25% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

Shares of Pepsico, Inc. (NYSE:PEP) opened at 116.86 on Friday. Pepsico, Inc. has a one year low of $98.50 and a one year high of $118.12. The company’s 50-day moving average is $115.12 and its 200-day moving average is $109.40. The company has a market cap of $166.93 billion, a price-to-earnings ratio of 25.18 and a beta of 0.68.

Pepsico (NYSE:PEP) last announced its earnings results on Wednesday, April 26th. The company reported $0.94 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.03. The company had revenue of $12.05 billion during the quarter, compared to analyst estimates of $11.98 billion. Pepsico had a net margin of 10.66% and a return on equity of 58.42%. Pepsico’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 earnings per share. On average, equities analysts predict that Pepsico, Inc. will post $5.15 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 2nd will be issued a $0.805 dividend. This is a boost from Pepsico’s previous quarterly dividend of $0.75. The ex-dividend date is Wednesday, May 31st. This represents a $3.22 annualized dividend and a yield of 2.76%. Pepsico’s dividend payout ratio (DPR) is 69.40%.

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A number of equities analysts have commented on the stock. Stifel Nicolaus reissued a “hold” rating on shares of Pepsico in a research note on Wednesday, May 31st. BMO Capital Markets cut shares of Pepsico from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $118.00 to $120.00 in a research note on Wednesday, June 7th. They noted that the move was a valuation call. Royal Bank Of Canada reissued a “hold” rating and issued a $115.00 price objective on shares of Pepsico in a research note on Thursday, May 25th. Jefferies Group LLC lifted their price objective on shares of Pepsico from $120.00 to $127.00 and gave the stock a “buy” rating in a research note on Wednesday, April 19th. Finally, Vetr raised shares of Pepsico from a “hold” rating to a “buy” rating and set a $125.54 price objective for the company in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $120.66.

About Pepsico

PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).

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