PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan lowered its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 46,380 shares of the company’s stock after selling 2,740 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in PepsiCo were worth $6,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Personal Wealth Partners purchased a new position in PepsiCo in the second quarter worth $25,000. Evolution Wealth Advisors LLC purchased a new position in PepsiCo in the second quarter worth $27,000. Financial Advantage Inc. purchased a new position in PepsiCo in the second quarter worth $28,000. Mackey Komara & Dankovich LLC raised its position in PepsiCo by 199.0% in the second quarter. Mackey Komara & Dankovich LLC now owns 858 shares of the company’s stock worth $38,000 after acquiring an additional 571 shares in the last quarter. Finally, 1 North Wealth Services LLC purchased a new position in PepsiCo in the fourth quarter worth $39,000. Institutional investors own 71.26% of the company’s stock.

PepsiCo stock opened at $129.12 on Thursday. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.86 and a quick ratio of 0.66. The firm has a market capitalization of $179.46 billion, a price-to-earnings ratio of 22.81, a price-to-earnings-growth ratio of 3.33 and a beta of 0.60. PepsiCo, Inc. has a fifty-two week low of $104.53 and a fifty-two week high of $135.24. The firm has a fifty day moving average price of $130.83.



PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.05. The company had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.44 billion. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. PepsiCo’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.61 earnings per share. On average, equities research analysts anticipate that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $0.955 dividend. This represents a $3.82 annualized dividend and a yield of 2.96%. The ex-dividend date is Thursday, September 5th. PepsiCo’s dividend payout ratio (DPR) is 67.49%.

PEP has been the subject of several research analyst reports. Atlantic Securities initiated coverage on PepsiCo in a research report on Monday, July 29th. They issued an “overweight” rating and a $145.00 price objective for the company. Macquarie increased their price objective on PepsiCo from $126.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. BMO Capital Markets reiterated an “average” rating and issued a $128.00 price objective on shares of PepsiCo in a research report on Wednesday, July 10th. ValuEngine cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Cowen increased their price objective on PepsiCo from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have issued a buy rating to the stock. PepsiCo has a consensus rating of “Hold” and an average price target of $129.35.

In related news, CEO Kirk Tanner sold 9,573 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the sale, the chief executive officer now owns 105,350 shares of the company’s stock, valued at $13,500,602.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven C. Williams sold 2,420 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total value of $324,159.00. Following the sale, the chief executive officer now directly owns 54,920 shares in the company, valued at approximately $7,356,534. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.

PepsiCo 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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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