Hengehold Capital Management LLC Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)
Hengehold Capital Management LLC trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,290 shares of the company’s stock after selling 519 shares during the period. Hengehold Capital Management LLC’s holdings in PepsiCo were worth $2,661,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently bought and sold shares of the company. HC Financial Advisors Inc. grew its stake in shares of PepsiCo by 4.2% in the 3rd quarter. HC Financial Advisors Inc. now owns 8,967 shares of the company’s stock worth $1,003,000 after buying an additional 363 shares in the last quarter. Laurel Wealth Advisors Inc. grew its stake in shares of PepsiCo by 1.3% in the 1st quarter. Laurel Wealth Advisors Inc. now owns 23,826 shares of the company’s stock worth $2,920,000 after buying an additional 296 shares in the last quarter. Lau Associates LLC grew its stake in shares of PepsiCo by 7.6% in the 4th quarter. Lau Associates LLC now owns 57,455 shares of the company’s stock worth $6,348,000 after buying an additional 4,035 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA grew its stake in shares of PepsiCo by 0.8% in the 1st quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 26,334 shares of the company’s stock worth $3,227,000 after buying an additional 207 shares in the last quarter. Finally, Meritage Portfolio Management grew its stake in shares of PepsiCo by 4.3% in the 4th quarter. Meritage Portfolio Management now owns 5,149 shares of the company’s stock worth $569,000 after buying an additional 210 shares in the last quarter. 71.21% of the stock is owned by institutional investors.
In other news, 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 value of $1,997,234.33. Following the completion of the sale, the chairman now owns 232,394 shares in the company, valued at approximately $30,078,755.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $324,159.00. Following the completion of the sale, the chief executive officer now owns 54,920 shares of the company’s stock, valued at approximately $7,356,534. The disclosure for this sale can be found here. Insiders own 0.28% of the company’s stock.
PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 earnings per share for the quarter, beating 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 company had revenue of $16.45 billion during the quarter, compared to analyst estimates of $16.44 billion. During the same quarter last year, the business posted $1.61 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Equities research analysts expect that PepsiCo, Inc. will post 5.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $0.955 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $3.82 annualized dividend and a dividend yield of 2.90%. PepsiCo’s dividend payout ratio is currently 67.49%.
Several research firms have recently issued reports on PEP. Goldman Sachs Group set a $131.00 target price on shares of Microsoft and gave the stock a “buy” rating in a report on Wednesday, April 24th. Jefferies Financial Group raised their target price on shares of PepsiCo from $123.00 to $134.00 and gave the stock a “hold” rating in a report on Wednesday, July 10th. Wells Fargo & Co began coverage on shares of Semtech in a report on Tuesday, May 14th. They issued an “outperform” rating and a $48.03 target price for the company. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, UBS Group raised their target price on shares of Willis Towers Watson from $202.00 to $220.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. PepsiCo currently has an average rating of “Hold” and a consensus price target 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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