PepsiCo, Inc. (NASDAQ:PEP) Holdings Lifted by Dubuque Bank & Trust Co.
Dubuque Bank & Trust Co. boosted its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 106.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,702 shares of the company’s stock after purchasing an additional 18,917 shares during the period. Dubuque Bank & Trust Co.’s holdings in PepsiCo were worth $5,032,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Marietta Wealth Management LLC boosted its position in PepsiCo by 3.6% during the second quarter. Marietta Wealth Management LLC now owns 22,145 shares of the company’s stock valued at $2,904,000 after purchasing an additional 763 shares during the last quarter. Laurel Wealth Advisors Inc. boosted its position in PepsiCo by 1.3% during the first quarter. Laurel Wealth Advisors Inc. now owns 23,826 shares of the company’s stock valued at $2,920,000 after purchasing an additional 296 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of PepsiCo by 27.6% in the second quarter. AQR Capital Management LLC now owns 3,484,704 shares of the company’s stock worth $456,949,000 after buying an additional 754,455 shares during the last quarter. AE Wealth Management LLC lifted its position in shares of PepsiCo by 72.6% in the second quarter. AE Wealth Management LLC now owns 64,904 shares of the company’s stock worth $8,511,000 after buying an additional 27,302 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of PepsiCo by 19.0% in the second quarter. Assetmark Inc. now owns 5,417 shares of the company’s stock worth $710,000 after buying an additional 864 shares during the last quarter. 71.46% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Kirk Tanner sold 9,573 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 105,350 shares of the company’s stock, valued at approximately $13,500,602.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.28% of the stock is currently owned by insiders.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.06. PepsiCo had a return on equity of 55.00% and a net margin of 18.78%. The business had revenue of $17.19 billion during the quarter, compared to analysts’ expectations of $16.93 billion. During the same quarter in the previous year, the firm earned $1.59 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. On average, research analysts expect that PepsiCo, Inc. will post 5.5 earnings per share for the current year.
PEP has been the subject of a number of analyst reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $133.00 price target (up previously from $128.00) on shares of PepsiCo in a research report on Friday, October 4th. Morgan Stanley boosted their price target on PepsiCo from $149.00 to $154.00 and gave the stock an “overweight” rating in a research report on Friday, October 4th. Argus reaffirmed a “buy” rating on shares of PepsiCo in a research report on Thursday, July 11th. Jefferies Financial Group boosted their price target on PepsiCo from $123.00 to $134.00 and gave the stock a “hold” rating in a research report on Wednesday, July 10th. Finally, BidaskClub raised PepsiCo from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. PepsiCo has an average rating of “Hold” and an average target price of $135.53.
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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