Van Cleef Asset Management Inc decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 0.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,737 shares of the company’s stock after selling 344 shares during the period. PepsiCo makes up about 1.8% of Van Cleef Asset Management Inc’s portfolio, making the stock its 19th biggest holding. Van Cleef Asset Management Inc’s holdings in PepsiCo were worth $7,965,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Personal Wealth Partners acquired a new stake in PepsiCo during the 2nd quarter worth about $25,000. Krane Funds Advisors LLC acquired a new stake in shares of PepsiCo during the 2nd quarter valued at about $25,000. Evolution Wealth Advisors LLC acquired a new stake in shares of PepsiCo during the 2nd quarter valued at about $27,000. Financial Advantage Inc. acquired a new stake in shares of PepsiCo during the 2nd quarter valued at about $28,000. Finally, Mackey Komara & Dankovich LLC grew its position in shares of PepsiCo by 199.0% during the 2nd quarter. Mackey Komara & Dankovich LLC now owns 858 shares of the company’s stock valued at $38,000 after acquiring an additional 571 shares during the period. Institutional investors own 71.51% of the company’s stock.
PEP stock traded down $1.23 during trading on Friday, hitting $136.06. The stock had a trading volume of 223,263 shares, compared to its average volume of 3,696,356. The company has a debt-to-equity ratio of 1.97, a current ratio of 0.86 and a quick ratio of 0.66. PepsiCo, Inc. has a twelve month low of $104.53 and a twelve month high of $139.18. The stock has a market capitalization of $189.96 billion, a P/E ratio of 24.03, a PEG ratio of 3.53 and a beta of 0.56. The company’s 50-day moving average price is $132.01 and its two-hundred day moving average price is $127.77.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 company had revenue of $16.45 billion for the quarter, compared to analysts’ expectations of $16.44 billion. During the same period in the previous year, the firm posted $1.61 EPS. PepsiCo’s revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts expect that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $0.955 dividend. This represents a $3.82 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, September 5th. PepsiCo’s payout ratio is 67.49%.
In other PepsiCo news, CEO Kirk Tanner sold 9,573 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total value of $1,226,779.95. Following the transaction, the chief executive officer now directly owns 105,350 shares of the company’s stock, valued at approximately $13,500,602.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Steven C. Williams sold 2,420 shares of the firm’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 completion of the transaction, the chief executive officer now directly 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.
A number of equities research analysts have recently commented on PEP shares. Atlantic Securities started coverage on PepsiCo in a research report on Monday, July 29th. They set an “overweight” rating and a $145.00 target price on the stock. BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, August 8th. Jefferies Financial Group raised their target price on PepsiCo from $123.00 to $134.00 and gave the company a “hold” rating in a research report on Wednesday, July 10th. Bank of America raised their target price on PepsiCo from $135.00 to $142.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Finally, Argus restated a “buy” rating on shares of PepsiCo in a research report on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $130.50.
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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