CHICAGO TRUST Co NA Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)
CHICAGO TRUST Co NA trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 11.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 42,065 shares of the company’s stock after selling 5,617 shares during the period. PepsiCo accounts for about 2.4% of CHICAGO TRUST Co NA’s investment portfolio, making the stock its 4th largest position. CHICAGO TRUST Co NA’s holdings in PepsiCo were worth $5,767,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of PEP. Nuveen Asset Management LLC raised its stake in shares of PepsiCo by 9,617.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,770,327 shares of the company’s stock valued at $1,281,183,000 after acquiring an additional 9,669,780 shares in the last quarter. Thoroughbred Financial Services LLC raised its stake in shares of PepsiCo by 13,410.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,806,262 shares of the company’s stock valued at $180,626,000 after acquiring an additional 1,792,893 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of PepsiCo by 20.8% in the 2nd quarter. California Public Employees Retirement System now owns 8,887,074 shares of the company’s stock valued at $1,165,362,000 after acquiring an additional 1,528,887 shares in the last quarter. BlackRock Inc. raised its stake in shares of PepsiCo by 1.4% in the 2nd quarter. BlackRock Inc. now owns 102,361,480 shares of the company’s stock valued at $13,422,659,000 after acquiring an additional 1,413,723 shares in the last quarter. Finally, Railway Pension Investments Ltd bought a new position in shares of PepsiCo in the 2nd quarter valued at approximately $16,182,000. 71.46% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on PEP shares. Atlantic Securities started coverage on PepsiCo in a research note on Monday, July 29th. They issued an “overweight” rating and a $145.00 price objective on the stock. BidaskClub raised PepsiCo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. ValuEngine downgraded PepsiCo from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Guggenheim set a $130.00 price target on PepsiCo and gave the stock a “hold” rating in a research report on Thursday, September 26th. Finally, Argus reaffirmed a “buy” rating on shares of PepsiCo in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. PepsiCo presently has an average rating of “Hold” and an average target price of $135.53.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, October 3rd. The company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.06. The business had revenue of $17.19 billion for the quarter, compared to analysts’ expectations of $16.93 billion. PepsiCo had a return on equity of 55.00% and a net margin of 18.78%. PepsiCo’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.59 earnings per share. On average, equities analysts expect that PepsiCo, Inc. will post 5.5 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Thursday, September 5th. PepsiCo’s dividend payout ratio is presently 67.49%.
In other news, CEO Kirk Tanner sold 9,573 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the sale, the chief executive officer now directly owns 105,350 shares in the company, valued at $13,500,602.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Steven C. Williams sold 2,420 shares of the business’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total value of $324,159.00. Following the sale, the chief executive officer now owns 54,920 shares in the company, valued at $7,356,534. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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