Pepsico, Inc. (PEP) Shares Sold by Level Four Advisory Services LLC
Level Four Advisory Services LLC reduced its stake in shares of Pepsico, Inc. (NYSE:PEP) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,892 shares of the company’s stock after selling 319 shares during the period. Level Four Advisory Services LLC’s holdings in Pepsico were worth $1,443,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. Norges Bank acquired a new stake in shares of Pepsico during the fourth quarter valued at about $1,492,411,000. Canada Pension Plan Investment Board increased its stake in shares of Pepsico by 92.5% in the first quarter. Canada Pension Plan Investment Board now owns 3,317,230 shares of the company’s stock valued at $371,065,000 after buying an additional 1,593,550 shares in the last quarter. Karp Capital Management Corp acquired a new stake in shares of Pepsico during the first quarter valued at about $112,080,000. Bank of Montreal Can increased its stake in shares of Pepsico by 16.6% in the first quarter. Bank of Montreal Can now owns 5,812,519 shares of the company’s stock valued at $650,189,000 after buying an additional 827,376 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of Pepsico during the fourth quarter valued at about $83,989,000. 70.52% of the stock is currently owned by institutional investors.
Pepsico, Inc. (NYSE:PEP) traded up 0.11% during midday trading on Friday, reaching $116.51. The company’s stock had a trading volume of 2,759,739 shares. The firm has a 50 day moving average price of $115.87 and a 200-day moving average price of $112.81. The firm has a market cap of $166.09 billion, a P/E ratio of 24.67 and a beta of 0.67. Pepsico, Inc. has a 52 week low of $98.50 and a 52 week high of $118.24.
Pepsico (NYSE:PEP) last announced its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.10. Pepsico had a net margin of 10.77% and a return on equity of 59.74%. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. During the same quarter in the prior year, the business posted $1.35 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. On average, analysts forecast that Pepsico, Inc. will post $5.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 1st will be given a dividend of $0.805 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $3.22 annualized dividend and a dividend yield of 2.76%. Pepsico’s dividend payout ratio is 68.22%.
PEP has been the topic of several research analyst reports. Zacks Investment Research downgraded Pepsico from a “hold” rating to a “sell” rating in a research report on Tuesday, April 18th. BMO Capital Markets reaffirmed a “buy” rating and issued a $115.00 price target on shares of Pepsico in a research report on Thursday, April 27th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $127.00 price target on shares of Pepsico in a research report on Friday, May 19th. Vetr raised Pepsico from a “buy” rating to a “strong-buy” rating and set a $125.54 price target on the stock in a research report on Wednesday, May 3rd. Finally, Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $134.00 price target (up from $132.00) on shares of Pepsico in a research report on Monday, May 1st. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Pepsico has a consensus rating of “Buy” and an average price target of $123.40.
In related news, CEO Indra K. Nooyi sold 340,449 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the sale, the chief executive officer now owns 733,315 shares in the company, valued at approximately $85,372,532.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mehmood Khan sold 63,396 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $116.39, for a total transaction of $7,378,660.44. Following the sale, the executive vice president now owns 174,273 shares in the company, valued at approximately $20,283,634.47. The disclosure for this sale can be found here. Insiders have sold a total of 898,164 shares of company stock worth $104,585,929 in the last quarter. 0.26% of the stock is currently owned by company insiders.
Pepsico Company Profile
PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).
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