Davidson & Garrard Inc. lowered its stake in PepsiCo Inc. (NYSE:PEP) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 69,030 shares of the company’s stock after selling 1,206 shares during the period. PepsiCo makes up 1.8% of Davidson & Garrard Inc.’s holdings, making the stock its 10th largest position. Davidson & Garrard Inc.’s holdings in PepsiCo were worth $7,313,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Fund Advisors increased its position in PepsiCo by 2.8% in the first quarter. BlackRock Fund Advisors now owns 20,058,028 shares of the company’s stock worth $2,055,547,000 after buying an additional 543,183 shares during the last quarter. Credit Agricole S A increased its position in PepsiCo by 3.9% in the first quarter. Credit Agricole S A now owns 2,119,767 shares of the company’s stock worth $217,235,000 after buying an additional 80,183 shares during the last quarter. AMP Capital Investors Ltd increased its position in PepsiCo by 7.9% in the first quarter. AMP Capital Investors Ltd now owns 956,160 shares of the company’s stock worth $98,191,000 after buying an additional 70,410 shares during the last quarter. BlackRock Japan Co. Ltd increased its position in PepsiCo by 4.3% in the first quarter. BlackRock Japan Co. Ltd now owns 1,912,976 shares of the company’s stock worth $196,042,000 after buying an additional 78,848 shares during the last quarter. Finally, Svenska Handelsbanken AB publ increased its position in PepsiCo by 5,341.9% in the second quarter. Svenska Handelsbanken AB publ now owns 815,737 shares of the company’s stock worth $86,419,000 after buying an additional 800,747 shares during the last quarter. Institutional investors and hedge funds own 69.81% of the company’s stock.
PepsiCo Inc. (NYSE:PEP) traded down 0.39% during midday trading on Friday, hitting $105.99. The stock had a trading volume of 4,398,433 shares. The stock’s 50-day moving average is $106.96 and its 200-day moving average is $105.32. PepsiCo Inc. has a 1-year low of $93.25 and a 1-year high of $110.94. The stock has a market capitalization of $152.01 billion, a PE ratio of 23.25 and a beta of 0.46.
PepsiCo (NYSE:PEP) last released its quarterly earnings data on Thursday, September 29th. The company reported $1.40 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.32 by $0.08. The firm earned $16 billion during the quarter. PepsiCo had a return on equity of 56.16% and a net margin of 10.74%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.35 EPS. On average, equities research analysts anticipate that PepsiCo Inc. will post $4.79 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.7525 per share. 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 66.01%.
A number of research analysts have issued reports on the stock. BMO Capital Markets restated an “outperform” rating on shares of PepsiCo in a research report on Friday, July 15th. Zacks Investment Research downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Argus increased their price target on shares of PepsiCo from $116.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, July 13th. Morgan Stanley reiterated an “overweight” rating and issued a $121.00 price target on shares of PepsiCo in a research report on Friday, September 30th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a $120.00 price target on shares of PepsiCo in a research report on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the company. PepsiCo has a consensus rating of “Buy” and an average price target of $113.68.
In other news, SVP Marie T. Gallagher sold 13,586 shares of the business’s stock in a transaction that occurred on Monday, July 11th. The stock was sold at an average price of $109.01, for a total transaction of $1,481,009.86. Following the completion of the sale, the senior vice president now owns 58,183 shares in the company, valued at $6,342,528.83. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Albert P. Carey sold 170,003 shares of the business’s stock in a transaction that occurred on Tuesday, July 12th. The shares were sold at an average price of $108.81, for a total value of $18,498,026.43. Following the sale, the chief executive officer now owns 306,138 shares of the company’s stock, valued at approximately $33,310,875.78. The disclosure for this sale can be found here. Insiders own 0.33% of the company’s stock.
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.