Parkside Financial Bank & Trust Raises Stake in Pepsico, Inc. (PEP)
Parkside Financial Bank & Trust grew its position in Pepsico, Inc. (NYSE:PEP) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,730 shares of the company’s stock after buying an additional 195 shares during the quarter. Pepsico accounts for 0.7% of Parkside Financial Bank & Trust’s holdings, making the stock its 21st largest holding. Parkside Financial Bank & Trust’s holdings in Pepsico were worth $1,817,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. grew its stake in Pepsico by 14.9% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 1,270 shares of the company’s stock worth $142,000 after purchasing an additional 165 shares in the last quarter. Millie Capital Management LLC acquired a new position in Pepsico during the 1st quarter worth $202,000. Proficio Capital Partners LLC grew its stake in Pepsico by 114.2% during the 1st quarter. Proficio Capital Partners LLC now owns 1,810 shares of the company’s stock worth $210,000 after purchasing an additional 965 shares in the last quarter. Granite Investment Advisors LLC acquired a new position in Pepsico during the 1st quarter worth $204,000. Finally, Spectrum Management Group Inc. acquired a new position in Pepsico during the 1st quarter worth $205,000. 70.31% of the stock is owned by institutional investors and hedge funds.
In other news, Chairman Indra K. Nooyi sold 452,830 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total transaction of $52,727,525.20. Following the transaction, the chairman now owns 733,315 shares of the company’s stock, valued at $85,387,198.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Mehmood Khan sold 63,396 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly 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 919,613 shares of company stock worth $106,956,258 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.
PEP has been the subject of several analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $133.00 target price (up from $130.00) on shares of Pepsico in a research note on Wednesday, July 12th. Zacks Investment Research raised Pepsico from a “hold” rating to a “buy” rating and set a $129.00 target price for the company in a research note on Friday, July 14th. BidaskClub raised Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Cowen and Company reissued a “buy” rating on shares of Pepsico in a research note on Sunday, September 17th. Finally, Susquehanna Bancshares Inc reissued a “buy” rating and set a $135.00 target price on shares of Pepsico in a research note on Monday, October 2nd. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $121.35.
Shares of Pepsico, Inc. (NYSE:PEP) opened at 111.95 on Thursday. The stock has a 50 day moving average price of $112.98 and a 200 day moving average price of $114.74. The stock has a market capitalization of $159.21 billion, a P/E ratio of 23.13 and a beta of 0.68. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39.
Pepsico (NYSE:PEP) last issued its quarterly earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.43 by $0.05. Pepsico had a net margin of 10.97% and a return on equity of 59.68%. The business had revenue of $16.24 billion for the quarter, compared to analysts’ expectations of $16.35 billion. During the same quarter last year, the company posted $1.40 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts anticipate that Pepsico, Inc. will post $5.22 earnings per share for the current fiscal year.
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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