Abner Herrman & Brock LLC Has $17.72 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Abner Herrman & Brock LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 135,167 shares of the company’s stock after selling 5,770 shares during the quarter. PepsiCo makes up approximately 2.5% of Abner Herrman & Brock LLC’s portfolio, making the stock its 15th biggest position. Abner Herrman & Brock LLC’s holdings in PepsiCo were worth $17,724,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Alethea Capital Management LLC grew its stake in shares of PepsiCo by 199.9% during the 4th quarter. Alethea Capital Management LLC now owns 7,498 shares of the company’s stock worth $828,000 after purchasing an additional 4,998 shares during the period. Clean Yield Group grew its stake in PepsiCo by 14.4% in the 4th quarter. Clean Yield Group now owns 22,495 shares of the company’s stock valued at $2,485,000 after acquiring an additional 2,825 shares during the last quarter. Tributary Capital Management LLC acquired a new stake in PepsiCo in the 4th quarter valued at about $93,000. Strs Ohio grew its stake in PepsiCo by 0.5% in the 4th quarter. Strs Ohio now owns 1,134,838 shares of the company’s stock valued at $125,376,000 after acquiring an additional 6,188 shares during the last quarter. Finally, Winslow Evans & Crocker Inc. grew its stake in PepsiCo by 32.2% in the 4th quarter. Winslow Evans & Crocker Inc. now owns 8,580 shares of the company’s stock valued at $950,000 after acquiring an additional 2,092 shares during the last quarter. 71.10% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages recently commented on PEP. Jefferies Financial Group increased their price objective on shares of PepsiCo from $123.00 to $134.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Royal Bank of Canada set a GBX 5,200 ($67.95) price objective on shares of London Stock Exchange Group and gave the company a “buy” rating in a research note on Wednesday, April 24th. Cowen increased their price objective on shares of PepsiCo from $142.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Goldman Sachs Group set a $131.00 price objective on shares of Microsoft and gave the company a “buy” rating in a research note on Wednesday, April 24th. Finally, Argus increased their price objective on shares of Lululemon Athletica to $200.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $128.53.

In other PepsiCo news, Chairman Ramon Laguarta sold 15,431 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $129.43, for a total value of $1,997,234.33. Following the transaction, the chairman now directly owns 232,394 shares in the company, valued at approximately $30,078,755.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Steven C. Williams sold 2,420 shares of the company’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $133.95, for a total transaction of $324,159.00. Following the completion of the transaction, the chief executive officer now owns 54,920 shares in the company, valued at $7,356,534. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,114 shares of company stock worth $5,515,142. 0.28% of the stock is owned by insiders.

NASDAQ:PEP traded up $0.87 on Tuesday, reaching $131.15. The stock had a trading volume of 1,952,337 shares, compared to its average volume of 4,326,577. The stock has a market cap of $183.03 billion, a P/E ratio of 23.17, a price-to-earnings-growth ratio of 3.38 and a beta of 0.60. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 1.97. The stock’s fifty day simple moving average is $132.54. PepsiCo, Inc. has a 12-month low of $104.53 and a 12-month high of $135.24.

PepsiCo (NASDAQ:PEP) last released its earnings results on Tuesday, July 9th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ 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 net margin of 19.59% and a return on equity of 59.50%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.61 EPS. As a group, analysts anticipate that PepsiCo, Inc. will post 5.51 earnings per share for the current 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. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a yield of 2.91%. PepsiCo’s dividend payout ratio (DPR) is 67.49%.

About PepsiCo

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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