Horan Capital Management reduced its position in shares of PepsiCo Inc. (NYSE:PEP) by 44.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,293 shares of the company’s stock after selling 44,378 shares during the period. PepsiCo comprises about 1.6% of Horan Capital Management’s holdings, making the stock its 26th largest position. Horan Capital Management’s holdings in PepsiCo were worth $5,857,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Lodestar Investment Counsel LLC IL boosted its position in PepsiCo by 12.9% in the first quarter. Lodestar Investment Counsel LLC IL now owns 83,975 shares of the company’s stock worth $8,606,000 after buying an additional 9,617 shares during the last quarter. Stokes & Hubbell Capital Management LLC boosted its position in PepsiCo by 1.2% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 58,153 shares of the company’s stock worth $5,959,000 after buying an additional 670 shares during the last quarter. Tompkins Financial Corp boosted its position in PepsiCo by 6.6% in the first quarter. Tompkins Financial Corp now owns 35,953 shares of the company’s stock worth $3,684,000 after buying an additional 2,232 shares during the last quarter. Moreno Evelyn V boosted its position in PepsiCo by 2.6% in the first quarter. Moreno Evelyn V now owns 46,085 shares of the company’s stock worth $4,723,000 after buying an additional 1,155 shares during the last quarter. Finally, Rosenbaum Jay D. boosted its position in PepsiCo by 5.5% in the first quarter. Rosenbaum Jay D. now owns 12,372 shares of the company’s stock worth $1,268,000 after buying an additional 642 shares during the last quarter. 70.06% of the stock is owned by institutional investors.
Shares of PepsiCo Inc. (NYSE:PEP) traded up 0.48% during trading on Wednesday, hitting $106.08. 3,419,758 shares of the stock traded hands. PepsiCo Inc. has a 52-week low of $93.25 and a 52-week high of $110.94. The firm has a market cap of $152.14 billion, a PE ratio of 23.27 and a beta of 0.46. The company’s 50 day moving average is $106.83 and its 200 day moving average is $105.42.
PepsiCo (NYSE:PEP) last released its earnings results on Thursday, September 29th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.08. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. The business had revenue of $16 billion for the quarter. During the same period in the prior year, the business posted $1.35 earnings per share. PepsiCo’s revenue was down 1.9% on a year-over-year basis. On average, equities research analysts predict that PepsiCo Inc. will post $4.79 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 2nd were given a $0.7525 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $3.01 annualized dividend and a dividend yield of 2.84%. PepsiCo’s dividend payout ratio is presently 66.01%.
A number of analysts have recently commented on the stock. BMO Capital Markets reissued an “outperform” rating on shares of PepsiCo in a research note on Friday, July 15th. Zacks Investment Research cut shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Argus boosted their target price on shares of PepsiCo from $116.00 to $124.00 and gave the stock a “buy” rating in a research note on Wednesday, July 13th. Morgan Stanley reissued an “overweight” rating and set a $121.00 target price on shares of PepsiCo in a research note on Friday, September 30th. Finally, Deutsche Bank AG reissued a “buy” rating and set a $120.00 target price on shares of PepsiCo in a research note on Monday, October 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $113.68.
In related news, EVP Mehmood Khan sold 51,137 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $107.30, for a total value of $5,487,000.10. Following the sale, the executive vice president now directly owns 164,464 shares of the company’s stock, valued at $17,646,987.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.
PepsiCo Company Profile
PepsiCo, Inc is a food and beverage company. The Company, through its operations, bottlers, contract manufacturers and other third parties, is engaged in making, marketing, distributing and selling a range of beverages, foods and snacks, serving in over 200 countries and territories. The Company operates through six segments, namely, Frito-Lay North America (FLNA); Quaker Foods North America (QFNA); North America Beverages (NAB); Latin America, which includes its beverage, food and snack businesses in Latin America; Europe Sub-Saharan Africa (ESSA), which includes its beverage, food and snack businesses in Europe and Sub-Saharan Africa, and Asia, Middle East and North Africa (AMENA), which includes its beverage, food and snack businesses in Asia, Middle East and North Africa.