PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Eliot Finkel Investment Counsel LLC

Eliot Finkel Investment Counsel LLC lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,940 shares of the company’s stock after selling 140 shares during the quarter. Eliot Finkel Investment Counsel LLC’s holdings in PepsiCo were worth $1,566,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PEP. BlackRock Inc. raised its stake in shares of PepsiCo by 2.4% during the fourth quarter. BlackRock Inc. now owns 97,102,071 shares of the company’s stock worth $10,727,836,000 after acquiring an additional 2,275,511 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in PepsiCo by 10,622.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 34,704,199 shares of the company’s stock worth $314,000 after purchasing an additional 34,380,553 shares during the period. Northern Trust Corp raised its position in PepsiCo by 3.2% during the 4th quarter. Northern Trust Corp now owns 20,185,841 shares of the company’s stock valued at $2,230,132,000 after purchasing an additional 623,727 shares in the last quarter. FMR LLC lifted its holdings in shares of PepsiCo by 0.8% in the 1st quarter. FMR LLC now owns 10,952,213 shares of the company’s stock worth $1,342,194,000 after buying an additional 84,974 shares during the period. Finally, Yacktman Asset Management LP grew its position in shares of PepsiCo by 0.9% during the 4th quarter. Yacktman Asset Management LP now owns 7,691,249 shares of the company’s stock worth $849,729,000 after buying an additional 68,176 shares in the last quarter. 71.51% of the stock is owned by hedge funds and other institutional investors.

PEP has been the topic of several research reports. UBS Group lifted their price objective on shares of PepsiCo from $130.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Cowen lifted their target price on PepsiCo from $142.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, July 10th. Atlantic Securities initiated coverage on shares of PepsiCo in a report on Monday, July 29th. They issued an “overweight” rating and a $145.00 price objective on the stock. Wells Fargo & Co upped their price target on shares of PepsiCo from $120.00 to $127.00 and gave the company a “positive” rating in a report on Tuesday, May 14th. Finally, Argus reiterated a “buy” rating on shares of PepsiCo in a research note on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $130.20.

In other news, CEO Kirk Tanner sold 9,573 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $128.15, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Steven C. Williams sold 2,420 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $133.95, for a total transaction 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. 0.28% of the stock is owned by company insiders.

Shares of NASDAQ PEP traded down $0.54 during mid-day trading on Tuesday, reaching $135.86. The company’s stock had a trading volume of 3,101,189 shares, compared to its average volume of 4,688,507. The company has a debt-to-equity ratio of 1.97, a quick ratio of 0.66 and a current ratio of 0.86. The stock has a 50-day moving average of $131.82 and a two-hundred day moving average of $127.58. PepsiCo, Inc. has a 1-year low of $104.53 and a 1-year high of $139.18. The stock has a market capitalization of $192.07 billion, a P/E ratio of 24.00, a P/E/G ratio of 3.57 and a beta of 0.56.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Tuesday, July 9th. The company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.49 by $0.05. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. The firm had revenue of $16.45 billion during the quarter, compared to analysts’ expectations of $16.44 billion. During the same quarter last year, the firm earned $1.61 earnings per share. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts predict that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a dividend of $0.955 per share. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend is Thursday, September 5th. PepsiCo’s dividend payout ratio is presently 67.49%.

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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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