First Western Capital Management Co raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 23.7% during the second quarter, HoldingsChannel.com reports. The fund owned 4,435 shares of the company’s stock after purchasing an additional 851 shares during the quarter. PepsiCo comprises about 2.2% of First Western Capital Management Co’s investment portfolio, making the stock its 24th biggest holding. First Western Capital Management Co’s holdings in PepsiCo were worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Twin Capital Management Inc. increased its holdings in shares of PepsiCo by 0.5% in the second quarter. Twin Capital Management Inc. now owns 180,000 shares of the company’s stock worth $19,597,000 after purchasing an additional 900 shares during the period. 6 Meridian increased its holdings in shares of PepsiCo by 0.4% in the second quarter. 6 Meridian now owns 139,514 shares of the company’s stock worth $15,189,000 after purchasing an additional 487 shares during the period. ProVise Management Group LLC increased its holdings in shares of PepsiCo by 2.0% in the second quarter. ProVise Management Group LLC now owns 73,892 shares of the company’s stock worth $8,045,000 after purchasing an additional 1,434 shares during the period. Pettyjohn Wood & White Inc. increased its holdings in shares of PepsiCo by 2.9% in the second quarter. Pettyjohn Wood & White Inc. now owns 59,698 shares of the company’s stock worth $6,499,000 after purchasing an additional 1,695 shares during the period. Finally, CSat Investment Advisory L.P. bought a new position in shares of PepsiCo in the second quarter worth $1,031,000. 70.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:PEP opened at $116.06 on Friday. PepsiCo, Inc. has a 52-week low of $95.94 and a 52-week high of $122.51. The firm has a market capitalization of $162.63 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.88 and a beta of 0.58. The company has a quick ratio of 1.15, a current ratio of 1.31 and a debt-to-equity ratio of 2.95.
PepsiCo (NASDAQ:PEP) last announced its earnings results on Tuesday, October 2nd. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.02. PepsiCo had a net margin of 7.66% and a return on equity of 73.27%. The company had revenue of $16.49 billion during the quarter, compared to analyst estimates of $16.38 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. Sell-side analysts predict that PepsiCo, Inc. will post 5.65 EPS for the current year.
In other PepsiCo news, EVP David Yawman sold 12,024 shares of the company’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $106.99, for a total transaction of $1,286,447.76. Following the completion of the sale, the executive vice president now directly owns 59,133 shares in the company, valued at $6,326,639.67. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Laxman Narasimhan sold 5,500 shares of the company’s stock in a transaction dated Thursday, October 4th. The shares were sold at an average price of $106.79, for a total transaction 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 sold 205,893 shares of company stock valued at $22,663,157 over the last quarter. 0.27% of the stock is owned by company insiders.
Several research firms have recently weighed in on PEP. Guggenheim began coverage on shares of PepsiCo in a report on Thursday, September 13th. They issued a “neutral” rating and a $117.00 price target on the stock. Goldman Sachs Group reaffirmed a “sell” rating and issued a $108.00 price target on shares of PepsiCo in a report on Monday, August 20th. BidaskClub raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, July 18th. SunTrust Banks upped their price target on shares of PepsiCo to $110.00 and gave the stock a “hold” rating in a report on Tuesday, July 24th. Finally, Zacks Investment Research raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a report on Tuesday, September 11th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $117.89.
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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