Pepsico, Inc. (PEP) Position Cut by Riverbridge Partners LLC

Riverbridge Partners LLC reduced its position in shares of Pepsico, Inc. (NYSE:PEP) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,758 shares of the company’s stock after selling 1,456 shares during the period. Riverbridge Partners LLC’s holdings in Pepsico were worth $3,206,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Roof Eidam & Maycock ADV increased its position in Pepsico by 18.3% during the second quarter. Roof Eidam & Maycock ADV now owns 14,679 shares of the company’s stock worth $1,695,000 after purchasing an additional 2,275 shares during the last quarter. Villere ST Denis J & Co. LLC increased its position in Pepsico by 1.5% during the second quarter. Villere ST Denis J & Co. LLC now owns 89,851 shares of the company’s stock worth $10,376,000 after purchasing an additional 1,300 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its position in Pepsico by 68.2% during the second quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 128,056 shares of the company’s stock worth $14,722,000 after purchasing an additional 51,913 shares during the last quarter. Northwest Wealth Management LLC increased its position in Pepsico by 0.4% during the second quarter. Northwest Wealth Management LLC now owns 2,511 shares of the company’s stock worth $290,000 after purchasing an additional 11 shares during the last quarter. Finally, Osborne Partners Capital Management LLC increased its position in Pepsico by 1.3% during the second quarter. Osborne Partners Capital Management LLC now owns 95,185 shares of the company’s stock worth $10,993,000 after purchasing an additional 1,239 shares during the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.

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In other news, CEO Indra K. Nooyi sold 340,449 shares of the firm’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $116.42, for a total transaction of $39,635,072.58. Following the transaction, the chief executive officer now directly owns 733,315 shares of the company’s stock, valued at $85,372,532.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Indra K. Nooyi sold 452,830 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $116.44, for a total value of $52,727,525.20. Following the transaction, the chairman now directly owns 733,315 shares in the company, valued at $85,387,198.60. The disclosure for this sale can be found here. Insiders sold 898,164 shares of company stock worth $104,585,929 over the last ninety days. 0.26% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Pepsico from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a research report on Tuesday, August 22nd. Credit Suisse Group cut shares of Pepsico from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $126.00 to $124.00 in a research report on Friday, September 8th. Jefferies Group LLC reiterated a “buy” rating and set a $130.00 price target (up from $127.00) on shares of Pepsico in a research report on Thursday, July 6th. BidaskClub upgraded shares of Pepsico from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Finally, Royal Bank Of Canada reiterated a “hold” rating and set a $115.00 price target on shares of Pepsico in a research report on Wednesday, September 6th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $123.44.

Pepsico, Inc. (PEP) traded up 0.58% on Friday, hitting $114.85. 5,543,002 shares of the stock traded hands. Pepsico, Inc. has a 12-month low of $98.50 and a 12-month high of $119.39. The firm’s 50-day moving average price is $116.42 and its 200-day moving average price is $114.56. The stock has a market cap of $163.72 billion, a price-to-earnings ratio of 24.32 and a beta of 0.68.

Pepsico (NYSE:PEP) last issued its earnings results on Tuesday, July 11th. The company reported $1.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.10. Pepsico had a return on equity of 59.74% and a net margin of 10.77%. The firm had revenue of $15.71 billion for the quarter, compared to analyst estimates of $15.57 billion. During the same period last year, the company earned $1.35 earnings per share. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts anticipate that Pepsico, Inc. will post $5.16 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $0.805 dividend. This represents a $3.22 annualized dividend and a yield of 2.80%. The ex-dividend date is Wednesday, August 30th. Pepsico’s dividend payout ratio is presently 68.22%.

About Pepsico

PepsiCo, Inc is a global food and beverage company. The Company’s portfolio of brands includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. The Company operates through six segments: Frito-Lay North America (FLNA), Quaker Foods North America (QFNA), North America Beverages (NAB), Latin America, Europe Sub-Saharan Africa (ESSA), and Asia, Middle East and North Africa (AMENA).

Institutional Ownership by Quarter for Pepsico (NYSE:PEP)

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