CHICAGO TRUST Co NA lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 11.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,065 shares of the company’s stock after selling 5,617 shares during the quarter. PepsiCo comprises about 2.4% of CHICAGO TRUST Co NA’s investment portfolio, making the stock its 4th largest holding. CHICAGO TRUST Co NA’s holdings in PepsiCo were worth $5,767,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in PepsiCo by 0.7% in the second quarter. Vanguard Group Inc. now owns 114,097,547 shares of the company’s stock valued at $14,961,613,000 after purchasing an additional 838,652 shares during the last quarter. BlackRock Inc. increased its holdings in shares of PepsiCo by 1.4% in the second quarter. BlackRock Inc. now owns 102,361,480 shares of the company’s stock worth $13,422,659,000 after acquiring an additional 1,413,723 shares in the last quarter. Northern Trust Corp increased its holdings in shares of PepsiCo by 0.7% in the second quarter. Northern Trust Corp now owns 20,818,749 shares of the company’s stock worth $2,729,962,000 after acquiring an additional 143,784 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of PepsiCo by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 19,884,685 shares of the company’s stock worth $2,607,480,000 after acquiring an additional 378,960 shares in the last quarter. Finally, Morgan Stanley increased its holdings in shares of PepsiCo by 1.1% in the second quarter. Morgan Stanley now owns 11,058,425 shares of the company’s stock worth $1,450,090,000 after acquiring an additional 117,564 shares in the last quarter. Institutional investors and hedge funds own 71.46% of the company’s stock.
In related news, CEO Steven C. Williams sold 2,420 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 54,920 shares of the company’s stock, valued at $7,356,534. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kirk Tanner sold 9,573 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total value of $1,226,779.95. Following the transaction, the chief executive officer now directly owns 105,350 shares of the company’s stock, valued at $13,500,602.50. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.50 by $0.06. The company had revenue of $17.19 billion during the quarter, compared to analysts’ expectations of $16.93 billion. PepsiCo had a return on equity of 55.00% and a net margin of 18.78%. PepsiCo’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.59 earnings per share. As a group, research analysts forecast that PepsiCo, Inc. will post 5.5 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a dividend of $0.955 per share. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $3.82 annualized dividend and a dividend yield of 2.77%. PepsiCo’s dividend payout ratio is currently 67.49%.
Several brokerages have issued reports on PEP. ValuEngine downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group increased their price target on PepsiCo from $130.00 to $132.00 and gave the stock a “neutral” rating in a report on Wednesday, July 10th. BMO Capital Markets restated a “market perform” rating and issued a $133.00 price target (up from $128.00) on shares of PepsiCo in a report on Friday, October 4th. Morgan Stanley increased their price target on PepsiCo from $149.00 to $154.00 and gave the stock an “overweight” rating in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. set a $154.00 price target on PepsiCo and gave the stock a “buy” rating in a report on Thursday, October 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $135.53.
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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