Great West Life Assurance Co. Can trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 6.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,916,970 shares of the company’s stock after selling 126,516 shares during the period. PepsiCo makes up about 0.8% of Great West Life Assurance Co. Can’s holdings, making the stock its 15th biggest position. Great West Life Assurance Co. Can owned approximately 0.14% of PepsiCo worth $356,935,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of PEP. Liberty One Investment Management LLC raised its holdings in shares of PepsiCo by 1.2% during the 2nd quarter. Liberty One Investment Management LLC now owns 145,654 shares of the company’s stock valued at $26,978,000 after purchasing an additional 1,693 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of PepsiCo by 1.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 56,472 shares of the company’s stock worth $10,460,000 after acquiring an additional 639 shares in the last quarter. Warther Private Wealth LLC increased its holdings in shares of PepsiCo by 7.4% during the 1st quarter. Warther Private Wealth LLC now owns 2,479 shares of the company’s stock valued at $452,000 after acquiring an additional 171 shares during the last quarter. Zuckerman Investment Group LLC lifted its holdings in PepsiCo by 4.4% in the 1st quarter. Zuckerman Investment Group LLC now owns 1,831 shares of the company’s stock worth $334,000 after purchasing an additional 78 shares during the last quarter. Finally, Mid American Wealth Advisory Group Inc. bought a new stake in PepsiCo during the second quarter worth approximately $865,000. 71.40% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at PepsiCo
In other PepsiCo news, CFO Hugh F. Johnston sold 48,388 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $166.65, for a total transaction of $8,063,860.20. Following the completion of the sale, the chief financial officer now owns 96,627 shares in the company, valued at approximately $16,102,889.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is owned by corporate insiders.
PepsiCo Price Performance
PepsiCo (NASDAQ:PEP – Get Free Report) last issued its quarterly earnings results on Tuesday, October 10th. The company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.10. The business had revenue of $23.45 billion during the quarter, compared to analyst estimates of $23.41 billion. PepsiCo had a net margin of 9.05% and a return on equity of 58.28%. PepsiCo’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.97 earnings per share. On average, research analysts anticipate that PepsiCo, Inc. will post 7.55 EPS for the current fiscal year.
PepsiCo Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 1st will be given a dividend of $1.265 per share. The ex-dividend date of this dividend is Thursday, November 30th. This represents a $5.06 dividend on an annualized basis and a yield of 3.03%. PepsiCo’s payout ratio is presently 84.33%.
Analysts Set New Price Targets
A number of brokerages have recently weighed in on PEP. Wells Fargo & Company boosted their price objective on shares of PepsiCo from $170.00 to $172.00 in a research note on Wednesday, October 11th. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $188.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, October 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $180.00 price objective on shares of PepsiCo in a research note on Wednesday, October 11th. Wedbush decreased their target price on PepsiCo from $206.00 to $195.00 and set an “outperform” rating for the company in a research note on Monday, October 9th. Finally, Argus dropped their price target on PepsiCo from $212.00 to $186.00 in a research report on Wednesday, October 11th. Seven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $187.57.
PepsiCo Company Profile
PepsiCo, Inc manufactures, markets, distributes, and sells various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.
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