Stelac Advisory Services LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 21.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 951 shares of the company’s stock after selling 255 shares during the quarter. Stelac Advisory Services LLC’s holdings in PepsiCo were worth $126,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV purchased a new position in PepsiCo in the second quarter valued at $26,000. Evolution Wealth Advisors LLC boosted its holdings in PepsiCo by 342.2% in the second quarter. Evolution Wealth Advisors LLC now owns 283 shares of the company’s stock valued at $37,000 after purchasing an additional 219 shares during the period. Marquette Asset Management LLC purchased a new position in PepsiCo in the second quarter valued at $40,000. New England Investment & Retirement Group Inc. purchased a new position in PepsiCo in the first quarter valued at $41,000. Finally, Lion Street Advisors LLC purchased a new stake in PepsiCo during the 1st quarter worth about $43,000. 70.60% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have issued reports on PEP. Cfra lifted their price target on PepsiCo from $145.00 to $150.00 and gave the stock a “strong-buy” rating in a report on Tuesday, April 28th. SunTrust Banks boosted their target price on PepsiCo from $125.00 to $130.00 and gave the company a “hold” rating in a report on Tuesday, July 14th. Barclays restated a “hold” rating and issued a $136.00 price target on shares of PepsiCo in a research report on Friday, April 17th. Royal Bank of Canada restated a “buy” rating and issued a $153.00 price target on shares of PepsiCo in a research report on Tuesday, April 14th. Finally, Jefferies Financial Group boosted their price target on PepsiCo from $130.00 to $135.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. Seven research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. PepsiCo presently has a consensus rating of “Buy” and a consensus price target of $142.87.
PepsiCo (NASDAQ:PEP) last posted its earnings results 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 return on equity of 54.77% and a net margin of 10.13%. The firm had revenue of $15.95 billion for the quarter, compared to analyst estimates of $15.47 billion. During the same quarter in the prior year, the company earned $1.54 EPS. PepsiCo’s revenue was down 3.1% on a year-over-year basis. On average, research analysts predict that PepsiCo, Inc. will post 5.34 earnings per share for the current year.
The firm also recently declared 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 dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, September 3rd. PepsiCo’s dividend payout ratio is presently 73.96%.
In other PepsiCo news, CEO Ramon Laguarta sold 13,109 shares of the stock in a transaction on Friday, July 17th. The stock was sold at an average price of $134.86, for a total transaction of $1,767,879.74. Following the transaction, the chief executive officer now owns 281,972 shares of the company’s stock, valued at approximately $38,026,743.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Ronald Schellekens sold 7,611 shares of the 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 transaction, the executive vice president now directly owns 36,639 shares in the company, valued at approximately $4,959,088.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,655 shares of company stock worth $3,591,883. Corporate insiders own 0.13% of the company’s stock.
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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