Baird Financial Group Inc. increased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,024,954 shares of the company’s stock after purchasing an additional 15,591 shares during the quarter. PepsiCo accounts for 0.8% of Baird Financial Group Inc.’s holdings, making the stock its 16th biggest holding. Baird Financial Group Inc. owned approximately 0.07% of PepsiCo worth $111,587,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fiera Capital Corp grew its position in PepsiCo by 5.3% in the 1st quarter. Fiera Capital Corp now owns 3,512,114 shares of the company’s stock valued at $383,347,000 after acquiring an additional 177,748 shares during the last quarter. Bruderman Asset Management LLC grew its position in PepsiCo by 3.9% in the 1st quarter. Bruderman Asset Management LLC now owns 59,583 shares of the company’s stock valued at $6,503,000 after acquiring an additional 2,255 shares during the last quarter. Patriot Wealth Management Inc. grew its position in PepsiCo by 3.1% in the 2nd quarter. Patriot Wealth Management Inc. now owns 43,785 shares of the company’s stock valued at $4,767,000 after acquiring an additional 1,297 shares during the last quarter. Buckingham Capital Management Inc. grew its position in PepsiCo by 5.6% in the 2nd quarter. Buckingham Capital Management Inc. now owns 31,907 shares of the company’s stock valued at $3,474,000 after acquiring an additional 1,689 shares during the last quarter. Finally, World Asset Management Inc grew its position in PepsiCo by 2.9% in the 2nd quarter. World Asset Management Inc now owns 102,760 shares of the company’s stock valued at $11,187,000 after acquiring an additional 2,917 shares during the last quarter. 70.64% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Mehmood Khan sold 168,295 shares of the company’s stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of $110.12, for a total transaction of $18,532,645.40. Following the completion of the sale, the executive vice president now directly owns 173,702 shares in the company, valued at approximately $19,128,064.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laxman Narasimhan sold 5,500 shares of the company’s stock in a transaction on Thursday, October 4th. The stock was sold at an average price of $106.79, for a total value of $587,345.00. Following the sale, the chief executive officer now owns 130,135 shares of the company’s stock, valued at $13,897,116.65. The disclosure for this sale can be found here. Insiders have sold a total of 205,893 shares of company stock valued at $22,663,157 over the last 90 days. 0.27% of the stock is currently owned by company insiders.
PEP has been the subject of several research reports. BMO Capital Markets lowered their target price on PepsiCo from $110.00 to $109.00 and set a “market perform” rating for the company in a report on Wednesday, October 3rd. Macquarie cut PepsiCo from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $122.00 to $107.00 in a report on Friday, October 5th. Susquehanna Bancshares lowered their target price on PepsiCo from $136.00 to $135.00 and set a “positive” rating for the company in a report on Friday, September 28th. Morgan Stanley reiterated an “overweight” rating on shares of PepsiCo in a report on Friday, October 5th. Finally, Goldman Sachs Group reiterated a “sell” rating and issued a $108.00 target price on shares of PepsiCo in a report on Monday, August 20th. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company’s stock. PepsiCo presently has a consensus rating of “Hold” and a consensus target price of $117.89.
Shares of NASDAQ PEP opened at $115.21 on Wednesday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.31 and a quick ratio of 1.15. The firm has a market cap of $156.92 billion, a P/E ratio of 22.03, a P/E/G ratio of 2.78 and a beta of 0.58. PepsiCo, Inc. has a 1-year low of $95.94 and a 1-year high of $122.51.
PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data on Tuesday, October 2nd. The company reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.02. The firm had revenue of $16.49 billion during the quarter, compared to analysts’ expectations of $16.38 billion. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.48 EPS. As a group, equities analysts forecast that PepsiCo, Inc. will post 5.65 EPS for the current fiscal year.
PepsiCo, Inc operates as a food and beverage company worldwide. Its Frito-Lay North America segment offers Lay's and Ruffles potato chips; Doritos, Tostitos, and Santitas tortilla chips; and Cheetos snacks, branded dips, and Fritos corn chips. The company's 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 brands Quaker, Aunt Jemima, Cap'n crunch, life, Quaker Chewy, and Rice-A-Roni.
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