PepsiCo, Inc. (PEP) Shares Sold by Chemical Bank

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Chemical Bank cut its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.7% in the 2nd quarter, Holdings Channel reports. The firm owned 68,384 shares of the company’s stock after selling 1,173 shares during the quarter. PepsiCo accounts for approximately 0.8% of Chemical Bank’s investment portfolio, making the stock its 27th biggest holding. Chemical Bank’s holdings in PepsiCo were worth $7,445,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. IFP Advisors Inc grew its stake in shares of PepsiCo by 1.2% during the 2nd quarter. IFP Advisors Inc now owns 36,628 shares of the company’s stock worth $3,988,000 after acquiring an additional 443 shares during the period. Heritage Way Advisors LLC grew its stake in shares of PepsiCo by 2.6% during the 2nd quarter. Heritage Way Advisors LLC now owns 17,575 shares of the company’s stock worth $1,913,000 after acquiring an additional 450 shares during the period. R.M.SINCERBEAUX Capital Management LLC grew its stake in shares of PepsiCo by 22.5% during the 2nd quarter. R.M.SINCERBEAUX Capital Management LLC now owns 2,450 shares of the company’s stock worth $267,000 after acquiring an additional 450 shares during the period. Edgemoor Investment Advisors Inc. grew its stake in shares of PepsiCo by 6.7% during the 2nd quarter. Edgemoor Investment Advisors Inc. now owns 7,214 shares of the company’s stock worth $785,000 after acquiring an additional 450 shares during the period. Finally, Sigma Planning Corp grew its stake in shares of PepsiCo by 1.4% during the 2nd quarter. Sigma Planning Corp now owns 32,120 shares of the company’s stock worth $3,497,000 after acquiring an additional 450 shares during the period. 70.66% of the stock is owned by hedge funds and other institutional investors.

In other PepsiCo news, EVP David Yawman sold 12,024 shares of the firm’s stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $106.99, for a total value of $1,286,447.76. Following the sale, the executive vice president now owns 59,133 shares of the company’s stock, valued at approximately $6,326,639.67. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Laxman Narasimhan sold 5,500 shares of the firm’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $106.79, for a total value of $587,345.00. Following the completion of the sale, the chief executive officer now directly owns 130,135 shares in the company, valued at approximately $13,897,116.65. The disclosure for this sale can be found here. 0.27% of the stock is owned by company insiders.

Several research analysts have recently weighed in on the company. Goldman Sachs Group reiterated a “sell” rating and set a $108.00 price target on shares of PepsiCo in a research note on Monday, August 20th. Guggenheim assumed coverage on PepsiCo in a research note on Thursday, September 13th. They set a “neutral” rating and a $117.00 price target for the company. BidaskClub upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, July 18th. SunTrust Banks increased their price target on PepsiCo to $110.00 and gave the stock a “hold” rating in a research note on Tuesday, July 24th. Finally, Zacks Investment Research upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $126.00 price target for the company in a research note on Tuesday, September 11th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $117.89.

Shares of NASDAQ PEP opened at $110.29 on Monday. PepsiCo, Inc. has a 52 week low of $95.94 and a 52 week high of $122.51. The company has a quick ratio of 1.15, a current ratio of 1.31 and a debt-to-equity ratio of 2.95. The stock has a market capitalization of $155.68 billion, a price-to-earnings ratio of 21.09, a P/E/G ratio of 2.76 and a beta of 0.67.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Tuesday, October 2nd. The company reported $1.59 EPS for the quarter, topping the consensus estimate of $1.57 by $0.02. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The business had revenue of $16.49 billion during the quarter, compared to the consensus estimate of $16.38 billion. During the same quarter last year, the company earned $1.48 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts forecast that PepsiCo, Inc. will post 5.65 earnings per share for the current fiscal year.

PepsiCo Profile

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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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