Obermeyer Wood Investment Counsel Lllp Reduces Holdings in Pepsico, Inc. (PEP)
Obermeyer Wood Investment Counsel Lllp trimmed its holdings in shares of Pepsico, Inc. (NYSE:PEP) by 50.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,985 shares of the company’s stock after selling 2,000 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in Pepsico were worth $229,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of PEP. QV Investors Inc. grew its position in shares of Pepsico by 1.4% during the second quarter. QV Investors Inc. now owns 37,940 shares of the company’s stock worth $4,381,000 after acquiring an additional 520 shares during the last quarter. S. R. Schill & Associates bought a new position in shares of Pepsico during the second quarter worth about $203,000. Pinnacle Financial Partners Inc. grew its position in shares of Pepsico by 44.6% during the second quarter. Pinnacle Financial Partners Inc. now owns 71,526 shares of the company’s stock worth $8,261,000 after acquiring an additional 22,070 shares during the last quarter. Accredited Investors Inc. grew its position in shares of Pepsico by 1.1% during the second quarter. Accredited Investors Inc. now owns 6,124 shares of the company’s stock worth $707,000 after acquiring an additional 67 shares during the last quarter. Finally, Tortoise Investment Management LLC grew its position in shares of Pepsico by 13.8% during the second quarter. Tortoise Investment Management LLC now owns 4,493 shares of the company’s stock worth $519,000 after acquiring an additional 545 shares during the last quarter. 70.54% of the stock is currently owned by institutional investors.
In other news, insider Ramon Laguarta sold 21,449 shares of the firm’s stock in a transaction dated Tuesday, October 10th. The shares were sold at an average price of $110.51, for a total transaction of $2,370,328.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.
PEP has been the subject of several recent research reports. BidaskClub lowered shares of Pepsico from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Tuesday, August 22nd. Susquehanna Bancshares Inc restated a “buy” rating and set a $135.00 price target on shares of Pepsico in a research report on Monday, October 2nd. Credit Suisse Group restated a “hold” rating and set a $122.00 price target (down previously from $124.00) on shares of Pepsico in a research report on Thursday, October 5th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $115.00 price target on shares of Pepsico in a research report on Wednesday, September 6th. Seven analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $121.35.
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Pepsico, Inc. (PEP) opened at $115.23 on Friday. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.21 and a current ratio of 1.35. The firm has a market cap of $163,688.66, a PE ratio of 22.48, a PEG ratio of 3.13 and a beta of 0.66.
Pepsico (NYSE:PEP) last posted its quarterly earnings data on Wednesday, October 4th. The company reported $1.48 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $16.24 billion during the quarter, compared to analyst estimates of $16.35 billion. During the same quarter last year, the firm posted $1.40 EPS. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. sell-side analysts expect that Pepsico, Inc. will post 5.22 earnings per share for the current 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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