Fort L.P. Takes $125,000 Position in PepsiCo, Inc. (PEP)

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Fort L.P. acquired a new position in shares of PepsiCo, Inc. (NASDAQ:PEP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,151 shares of the company’s stock, valued at approximately $125,000.

A number of other hedge funds have also recently modified their holdings of PEP. IFP Advisors Inc grew its position in shares of PepsiCo by 1.2% in the 2nd quarter. IFP Advisors Inc now owns 36,628 shares of the company’s stock valued at $3,988,000 after buying an additional 443 shares during the last quarter. Heritage Way Advisors LLC grew its position in shares of PepsiCo by 2.6% in the 2nd quarter. Heritage Way Advisors LLC now owns 17,575 shares of the company’s stock valued at $1,913,000 after buying an additional 450 shares during the last quarter. R.M.SINCERBEAUX Capital Management LLC grew its position in shares of PepsiCo by 22.5% in the 2nd quarter. R.M.SINCERBEAUX Capital Management LLC now owns 2,450 shares of the company’s stock valued at $267,000 after buying an additional 450 shares during the last quarter. Edgemoor Investment Advisors Inc. grew its position in shares of PepsiCo by 6.7% in the 2nd quarter. Edgemoor Investment Advisors Inc. now owns 7,214 shares of the company’s stock valued at $785,000 after buying an additional 450 shares during the last quarter. Finally, Sigma Planning Corp lifted its stake in shares of PepsiCo by 1.4% in the 2nd quarter. Sigma Planning Corp now owns 32,120 shares of the company’s stock valued at $3,497,000 after purchasing an additional 450 shares during the period. Institutional investors and hedge funds own 70.64% of the company’s stock.

A number of brokerages have recently issued reports on PEP. BidaskClub raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday, October 26th. Zacks Investment Research raised PepsiCo from a “sell” rating to a “hold” rating in a research note on Sunday, July 15th. Deutsche Bank dropped their price objective on PepsiCo from $118.00 to $116.00 and set a “hold” rating on the stock in a research note on Wednesday, October 3rd. Morgan Stanley dropped their price objective on PepsiCo from $127.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, October 4th. Finally, Citigroup dropped their price objective on PepsiCo from $118.00 to $116.00 and set a “hold” rating on the stock in a research note on Wednesday, October 3rd. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $117.89.

In other news, CEO Mike Spanos sold 20,074 shares of the stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $112.42, for a total value of $2,256,719.08. Following the completion of the sale, the chief executive officer now directly owns 35,520 shares of the company’s stock, valued at $3,993,158.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Yawman sold 12,024 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president now directly owns 59,133 shares of the company’s stock, valued at $6,326,639.67. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 205,893 shares of company stock worth $22,663,157. 0.27% of the stock is owned by company insiders.

PEP stock opened at $117.48 on Friday. PepsiCo, Inc. has a fifty-two week low of $95.94 and a fifty-two week high of $122.51. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.15 and a current ratio of 1.31. The company has a market cap of $162.63 billion, a P/E ratio of 22.46, a PEG ratio of 2.88 and a beta of 0.58.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results 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. PepsiCo had a return on equity of 73.27% and a net margin of 7.66%. The business had revenue of $16.49 billion for the quarter, compared to the consensus estimate of $16.38 billion. During the same period in the prior year, the business earned $1.48 EPS. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts forecast that PepsiCo, Inc. will post 5.65 earnings per share for the current year.

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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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