Congress Asset Management Co. MA decreased its stake in PepsiCo Inc. (NYSE:PEP) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 502,610 shares of the company’s stock after selling 8,203 shares during the period. PepsiCo accounts for approximately 1.2% of Congress Asset Management Co. MA’s portfolio, making the stock its 19th largest position. Congress Asset Management Co. MA’s holdings in PepsiCo were worth $53,247,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in PEP. State Street Corp raised its position in shares of PepsiCo by 1.5% in the first quarter. State Street Corp now owns 58,107,763 shares of the company’s stock worth $5,954,891,000 after buying an additional 860,005 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of PepsiCo by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 38,394,081 shares of the company’s stock worth $3,934,625,000 after buying an additional 320,953 shares in the last quarter. Wellington Management Group LLP raised its position in shares of PepsiCo by 40.9% in the first quarter. Wellington Management Group LLP now owns 21,691,078 shares of the company’s stock worth $2,222,902,000 after buying an additional 6,297,861 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of 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 in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of PepsiCo by 4.8% in the first quarter. Geode Capital Management LLC now owns 12,518,040 shares of the company’s stock worth $1,280,408,000 after buying an additional 573,839 shares in the last quarter. 69.81% of the stock is currently owned by institutional investors.
Shares of PepsiCo Inc. (NYSE:PEP) traded down 1.04% during midday trading on Wednesday, reaching $105.99. 2,706,937 shares of the company were exchanged. The stock’s 50-day moving average price is $107.14 and its 200-day moving average price is $105.27. PepsiCo Inc. has a 52-week low of $93.25 and a 52-week high of $110.94. The company has a market capitalization of $152.01 billion, a PE ratio of 23.25 and a beta of 0.46.
PepsiCo (NYSE:PEP) last announced its earnings results on Thursday, September 29th. The company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.08. The business had revenue of $16 billion for the quarter. PepsiCo had a return on equity of 57.14% and a net margin of 10.74%. PepsiCo’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.35 earnings per share. Analysts anticipate that PepsiCo Inc. will post $4.79 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 2nd were paid a $0.7525 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $3.01 dividend on an annualized basis and a yield of 2.81%. PepsiCo’s dividend payout ratio is currently 66.01%.
PEP has been the topic of a number of research reports. Bank of America Corp. reaffirmed a “buy” rating and issued a $120.00 price target on shares of PepsiCo in a research note on Thursday, September 22nd. Credit Agricole SA reissued an “outperform” rating on shares of PepsiCo in a research note on Monday, August 22nd. Credit Suisse Group AG started coverage on shares of PepsiCo in a research note on Thursday, September 15th. They issued an “outperform” rating and a $121.00 target price on the stock. Zacks Investment Research lowered shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Wednesday, September 7th. Finally, Susquehanna reissued a “neutral” rating on shares of PepsiCo in a research note on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $112.25.
In other news, EVP Mehmood Khan sold 51,137 shares of the stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $107.30, for a total transaction of $5,487,000.10. Following the transaction, the executive vice president now directly owns 164,464 shares in the company, valued at approximately $17,646,987.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Marie T. Gallagher sold 13,586 shares of the stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $109.01, for a total value of $1,481,009.86. Following the transaction, the senior vice president now owns 58,183 shares in the company, valued at $6,342,528.83. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.