Oakbrook Investments LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 23.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 273,976 shares of the company’s stock after selling 84,946 shares during the quarter. PepsiCo accounts for 1.7% of Oakbrook Investments LLC’s portfolio, making the stock its 17th largest position. Oakbrook Investments LLC’s holdings in PepsiCo were worth $30,631,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. New England Asset Management Inc. lifted its position in PepsiCo by 4.7% in the second quarter. New England Asset Management Inc. now owns 41,126 shares of the company’s stock valued at $4,478,000 after purchasing an additional 1,850 shares during the last quarter. Bank of Montreal Can lifted its position in PepsiCo by 19.9% in the third quarter. Bank of Montreal Can now owns 3,227,392 shares of the company’s stock valued at $360,823,000 after purchasing an additional 536,023 shares during the last quarter. Fundsmith Equity Fund L.P. bought a new stake in PepsiCo in the second quarter valued at approximately $836,330,000. Worldquant Millennium Quantitative Strategies LLC bought a new stake in PepsiCo in the second quarter valued at approximately $4,223,000. Finally, Buckingham Capital Management Inc. lifted its position in PepsiCo by 5.6% in the second quarter. Buckingham Capital Management Inc. now owns 31,907 shares of the company’s stock valued at $3,474,000 after purchasing an additional 1,689 shares during the last quarter. Institutional investors own 70.58% of the company’s stock.
Several analysts have weighed in on PEP shares. BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, November 15th. Zacks Investment Research upgraded PepsiCo from a “sell” rating to a “hold” rating in a research report on Monday, October 29th. Morgan Stanley lowered their price objective on PepsiCo from $127.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, October 4th. Finally, ValuEngine upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Saturday, December 1st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. PepsiCo currently has an average rating of “Hold” and a consensus target price of $117.89.
In related news, EVP David Yawman sold 12,024 shares of the company’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $106.99, for a total value of $1,286,447.76. Following the sale, the executive vice president now directly owns 59,133 shares of the company’s stock, valued at $6,326,639.67. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mike Spanos sold 20,074 shares of the company’s stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $112.42, for a total value of $2,256,719.08. Following the completion of the sale, the chief executive officer now directly owns 35,520 shares in the company, valued at $3,993,158.40. The disclosure for this sale can be found here. Insiders have sold 205,893 shares of company stock worth $22,663,157 over the last three months. Insiders own 0.27% of the company’s stock.
PEP opened at $115.82 on Friday. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.15 and a current ratio of 1.31. PepsiCo, Inc. has a 52-week low of $95.94 and a 52-week high of $122.51. The company has a market cap of $166.28 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.95 and a beta of 0.60.
PepsiCo (NASDAQ:PEP) last posted its earnings results on Tuesday, October 2nd. The company reported $1.59 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.02. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The firm had revenue of $16.49 billion for the quarter, compared to analysts’ expectations of $16.38 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. The business’s revenue was up 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that PepsiCo, Inc. will post 5.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 7th. Stockholders of record on Friday, December 7th will be paid a dividend of $0.9275 per share. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $3.71 annualized dividend and a dividend yield of 3.20%. PepsiCo’s dividend payout ratio (DPR) is presently 70.94%.
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PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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