Sentry Investments Corp. Buys New Stake in Pepsico, Inc. (PEP)
Sentry Investments Corp. bought a new position in shares of Pepsico, Inc. (NYSE:PEP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,300 shares of the company’s stock, valued at approximately $266,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Barnett & Company Inc. grew its stake in Pepsico by 270.4% in the second quarter. Barnett & Company Inc. now owns 900 shares of the company’s stock worth $104,000 after purchasing an additional 657 shares in the last quarter. Asset Planning Services Ltd. grew its stake in Pepsico by 0.3% in the second quarter. Asset Planning Services Ltd. now owns 1,006 shares of the company’s stock worth $116,000 after purchasing an additional 3 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Pepsico by 5.9% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,211 shares of the company’s stock worth $138,000 after purchasing an additional 67 shares in the last quarter. Riggs Asset Managment Co. Inc. grew its stake in Pepsico by 14.9% in the first 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. Finally, Millie Capital Management LLC acquired a new position in Pepsico in the first quarter worth about $202,000. 70.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of Pepsico, Inc. (PEP) traded up $0.13 during mid-day trading on Wednesday, reaching $117.59. The company’s stock had a trading volume of 3,198,600 shares, compared to its average volume of 3,667,118. The company has a debt-to-equity ratio of 2.32, a quick ratio of 1.21 and a current ratio of 1.35. Pepsico, Inc. has a 12 month low of $100.81 and a 12 month high of $119.39. The firm has a market capitalization of $167,044.91, a P/E ratio of 22.94, a P/E/G ratio of 3.19 and a beta of 0.68.
Pepsico (NYSE:PEP) last issued its earnings results on Wednesday, October 4th. The company reported $1.48 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.05. Pepsico had a return on equity of 59.68% and a net margin of 10.97%. The company had revenue of $16.24 billion during the quarter, compared to the consensus estimate of $16.35 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. Pepsico’s quarterly revenue was up 1.3% compared to the same quarter last year. analysts anticipate that Pepsico, Inc. will post 5.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 8th. Shareholders of record on Friday, December 1st will be paid a $0.805 dividend. The ex-dividend date is Thursday, November 30th. This represents a $3.22 dividend on an annualized basis and a yield of 2.74%. Pepsico’s payout ratio is currently 66.53%.
In other Pepsico news, insider Ramon Laguarta sold 21,449 shares of Pepsico stock in a transaction that occurred on Tuesday, October 10th. The stock was sold at an average price of $110.51, for a total value of $2,370,328.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.
A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Pepsico from a “hold” rating to a “buy” rating and set a $131.00 price target for the company in a research note on Monday. BidaskClub upgraded Pepsico from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Susquehanna Bancshares reiterated a “buy” rating and issued a $135.00 price target on shares of Pepsico in a research note on Monday, October 2nd. Jefferies Group downgraded Pepsico from a “buy” rating to a “hold” rating and decreased their price target for the stock from $133.00 to $108.00 in a research note on Monday, October 2nd. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $122.00 price target (down from $124.00) on shares of Pepsico in a research note on Thursday, October 5th. Eight research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $121.96.
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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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