Old Port Advisors lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.5% in the 2nd quarter, Holdings Channel.com reports. The firm owned 9,950 shares of the company’s stock after selling 147 shares during the quarter. Old Port Advisors’ holdings in PepsiCo were worth $1,333,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its position in PepsiCo by 10,622.9% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock worth $314,000 after buying an additional 34,380,553 shares during the last quarter. BlackRock Inc. raised its position in PepsiCo by 2.4% in the 4th quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock worth $10,727,836,000 after buying an additional 2,275,511 shares during the last quarter. California Public Employees Retirement System raised its position in PepsiCo by 34.2% in the 4th quarter. California Public Employees Retirement System now owns 6,285,045 shares of the company’s stock worth $694,372,000 after buying an additional 1,600,360 shares during the last quarter. Swedbank purchased a new position in PepsiCo in the 2nd quarter worth about $135,539,000. Finally, Bahl & Gaynor Inc. raised its position in PepsiCo by 44.3% in the 4th quarter. Bahl & Gaynor Inc. now owns 2,079,696 shares of the company’s stock worth $229,764,000 after buying an additional 638,298 shares during the last quarter. 71.21% of the stock is owned by hedge funds and other institutional investors.
In related news, Chairman Ramon Laguarta sold 15,431 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $129.43, for a total transaction of $1,997,234.33. Following the completion of the transaction, the chairman now directly owns 232,394 shares in the company, valued at approximately $30,078,755.42. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Steven C. Williams sold 2,420 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 54,920 shares of the company’s stock, valued at $7,356,534. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, July 9th. The company reported $1.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.05. The firm had revenue of $16.45 billion during 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 business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.61 EPS. On average, analysts predict that PepsiCo, Inc. will post 5.51 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $0.955 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.99%. PepsiCo’s dividend payout ratio (DPR) is presently 67.49%.
A number of equities analysts have weighed in on the company. Argus reissued a “buy” rating on shares of PepsiCo in a research report on Thursday, July 11th. Bank of America boosted their target price on PepsiCo from $135.00 to $142.00 and gave the stock a “buy” rating in a research report on Wednesday, July 10th. Cowen boosted their target price on PepsiCo from $142.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 10th. UBS Group boosted their target price on PepsiCo from $130.00 to $132.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $125.00 price target on shares of PepsiCo in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $129.35.
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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