Northstar Group Inc. lowered its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,543 shares of the company’s stock after selling 204 shares during the period. PepsiCo accounts for 1.2% of Northstar Group Inc.’s portfolio, making the stock its 21st largest position. Northstar Group Inc.’s holdings in PepsiCo were worth $2,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Evolution Wealth Advisors LLC bought a new position in PepsiCo in the second quarter valued at approximately $27,000. 1 North Wealth Services LLC bought a new position in PepsiCo in the fourth quarter valued at approximately $39,000. Financial Gravity Companies Inc. bought a new position in PepsiCo in the fourth quarter valued at approximately $41,000. Thor Advisors LLC bought a new position in PepsiCo in the first quarter valued at approximately $70,000. Finally, Essex Investment Management Co. LLC bought a new position in shares of PepsiCo during the fourth quarter worth $71,000. 71.21% of the stock is owned by institutional investors and hedge funds.
In related news, Chairman Ramon Laguarta sold 15,431 shares of the firm’s stock in a transaction on 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 sale, the chairman now directly owns 232,394 shares in the company, valued at $30,078,755.42. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Steven C. Williams sold 2,420 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 54,920 shares in the company, valued at $7,356,534. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.05. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The business had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.44 billion. During the same period last year, the business posted $1.61 earnings per share. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. As a group, analysts expect that PepsiCo, Inc. will post 5.51 earnings per share for the current year.
The business 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 dividend of $0.955 per share. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.99%. PepsiCo’s payout ratio is 67.49%.
A number of equities analysts have recently weighed in on the stock. SunTrust Banks reissued a “hold” rating and set a $125.00 price target on shares of PepsiCo in a research report on Wednesday, July 10th. BMO Capital Markets reissued an “average” rating and set a $128.00 price target on shares of PepsiCo in a research report on Wednesday, July 10th. Argus reissued a “buy” rating on shares of PepsiCo in a research report on Thursday, July 11th. Macquarie lifted their price target on shares of PepsiCo from $126.00 to $138.00 and gave the stock an “outperform” rating in a research report on Thursday, April 18th. Finally, Morgan Stanley lifted their price target on shares of PepsiCo from $137.00 to $143.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 10th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. PepsiCo currently has an average rating of “Hold” and an average price target of $129.35.
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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