Trading Report: The PepsiCo Inc. (PEP) Position Boosted by Coconut Grove Bank

The PepsiCo Inc. (PEP) Position Boosted by Coconut Grove Bank

Coconut Grove Bank boosted its position in shares of PepsiCo Inc. (NYSE:PEP) by 3.9% during the second quarter, Holdings Channel reports. The firm owned 4,909 shares of the company’s stock after buying an additional 184 shares during the period. Coconut Grove Bank’s holdings in PepsiCo were worth $520,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Piershale Financial Group Inc. increased its stake in PepsiCo by 0.4% in the second quarter. Piershale Financial Group Inc. now owns 1,005 shares of the company’s stock worth $106,000 after buying an additional 4 shares in the last quarter. Palisade Capital Management LLC NJ increased its stake in PepsiCo by 0.3% in the first quarter. Palisade Capital Management LLC NJ now owns 3,251 shares of the company’s stock worth $333,000 after buying an additional 11 shares in the last quarter. Ronna Sue Cohen increased its stake in PepsiCo by 0.3% in the first quarter. Ronna Sue Cohen now owns 7,199 shares of the company’s stock worth $738,000 after buying an additional 23 shares in the last quarter. Dynamic Advisors Solutions LLC increased its stake in PepsiCo by 0.6% in the first quarter. Dynamic Advisors Solutions LLC now owns 4,548 shares of the company’s stock worth $466,000 after buying an additional 26 shares in the last quarter. Finally, NewSquare Capital LLC increased its stake in PepsiCo by 1.8% in the second quarter. NewSquare Capital LLC now owns 1,578 shares of the company’s stock worth $167,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 70.06% of the company’s stock.

PepsiCo Inc. (NYSE:PEP) traded down 0.37% during midday trading on Thursday, hitting $105.69. 1,391,491 shares of the stock were exchanged. The firm’s 50 day moving average price is $106.78 and its 200 day moving average price is $105.43. The company has a market cap of $151.58 billion, a PE ratio of 23.19 and a beta of 0.46. PepsiCo Inc. has a 12 month low of $93.25 and a 12 month high of $110.94.

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. The firm earned $16 billion during the quarter. PepsiCo had a net margin of 10.74% and a return on equity of 56.16%. PepsiCo’s revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.35 EPS. On average, equities research analysts forecast that PepsiCo Inc. will post $4.79 earnings per share for the current fiscal year.

Several research firms have weighed in on PEP. Deutsche Bank AG reissued a “buy” rating and issued a $120.00 price target on shares of PepsiCo in a research note on Monday, October 3rd. Morgan Stanley reissued an “overweight” rating and issued a $121.00 price target on shares of PepsiCo in a research note on Friday, September 30th. BMO Capital Markets reissued an “outperform” rating and issued a $120.00 price target (up from $116.00) on shares of PepsiCo in a research note on Friday, September 30th. Bank of America Corp. reissued a “buy” rating and issued a $120.00 price target on shares of PepsiCo in a research note on Friday, September 30th. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $122.00 price target on shares of PepsiCo in a research note on Friday, September 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $113.68.

In other news, EVP Mehmood Khan sold 51,137 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president now owns 164,464 shares in the company, valued at approximately $17,646,987.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.33% of the stock is currently owned by insiders.

About PepsiCo

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.

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