OLD Second National Bank of Aurora lifted its stake in PepsiCo, Inc. (NASDAQ:PEP) by 144.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,706 shares of the company’s stock after purchasing an additional 6,319 shares during the period. OLD Second National Bank of Aurora’s holdings in PepsiCo were worth $1,404,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Resource Management LLC boosted its holdings in PepsiCo by 6.0% in the 4th quarter. Resource Management LLC now owns 5,884 shares of the company’s stock worth $650,000 after buying an additional 335 shares during the period. Heritage Wealth Advisors boosted its holdings in PepsiCo by 2.7% in the 4th quarter. Heritage Wealth Advisors now owns 35,122 shares of the company’s stock valued at $3,880,000 after purchasing an additional 930 shares during the period. Jolley Asset Management LLC boosted its holdings in PepsiCo by 21.5% in the 4th quarter. Jolley Asset Management LLC now owns 7,043 shares of the company’s stock valued at $778,000 after purchasing an additional 1,246 shares during the period. Braun Stacey Associates Inc. boosted its holdings in PepsiCo by 12.9% in the 4th quarter. Braun Stacey Associates Inc. now owns 107,374 shares of the company’s stock valued at $11,863,000 after purchasing an additional 12,231 shares during the period. Finally, Albion Financial Group UT boosted its holdings in PepsiCo by 1,006.5% in the 4th quarter. Albion Financial Group UT now owns 37,511 shares of the company’s stock valued at $4,144,000 after purchasing an additional 34,121 shares during the period. Hedge funds and other institutional investors own 71.21% of the company’s stock.
In other PepsiCo news, CEO Steven C. Williams sold 2,420 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $133.95, for a total value of $324,159.00. Following the transaction, the chief executive officer now owns 54,920 shares in the company, valued at $7,356,534. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Ramon Laguarta sold 15,431 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $129.43, for a total transaction of $1,997,234.33. Following the completion of the transaction, the chairman now owns 232,394 shares in the company, valued at approximately $30,078,755.42. The disclosure for this sale can be found here. 0.28% of the stock is owned by company insiders.
PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, July 9th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.05. The company had revenue of $16.45 billion for the quarter, compared to analysts’ expectations of $16.44 billion. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 EPS. Research analysts expect that PepsiCo, Inc. will post 5.51 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $0.955 dividend. This represents a $3.82 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date is Thursday, September 5th. PepsiCo’s payout ratio is presently 67.49%.
Several brokerages have commented on PEP. Argus reissued a “buy” rating on shares of PepsiCo in a report on Thursday, July 11th. UBS Group raised their price target on shares of PepsiCo from $130.00 to $132.00 and gave the company a “neutral” rating in a report on Wednesday, July 10th. Macquarie raised their price target on shares of PepsiCo from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. BidaskClub downgraded shares of PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Deutsche Bank raised their price target on shares of PepsiCo from $120.00 to $131.00 and gave the company a “hold” rating in a report on Thursday, April 18th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $129.35.
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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