Summit Global Investments Raises Holdings in PepsiCo, Inc. (NASDAQ:PEP)

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Summit Global Investments raised its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,679 shares of the company’s stock after purchasing an additional 819 shares during the period. PepsiCo comprises about 2.0% of Summit Global Investments’ portfolio, making the stock its 7th largest holding. Summit Global Investments’ holdings in PepsiCo were worth $12,670,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. HC Financial Advisors Inc. grew its position in shares of PepsiCo by 4.2% in the 3rd quarter. HC Financial Advisors Inc. now owns 8,967 shares of the company’s stock valued at $1,003,000 after buying an additional 363 shares during the last quarter. Lau Associates LLC grew its position in PepsiCo by 7.6% during the 4th quarter. Lau Associates LLC now owns 57,455 shares of the company’s stock worth $6,348,000 after purchasing an additional 4,035 shares during the last quarter. Meritage Portfolio Management grew its position in PepsiCo by 4.3% during the 4th quarter. Meritage Portfolio Management now owns 5,149 shares of the company’s stock worth $569,000 after purchasing an additional 210 shares during the last quarter. CWM LLC boosted its holdings in shares of PepsiCo by 155.2% in the fourth quarter. CWM LLC now owns 30,636 shares of the company’s stock valued at $3,385,000 after acquiring an additional 18,630 shares in the last quarter. Finally, Pflug Koory LLC boosted its holdings in shares of PepsiCo by 13.5% in the fourth quarter. Pflug Koory LLC now owns 10,061 shares of the company’s stock valued at $1,112,000 after acquiring an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 70.91% of the company’s stock.

In related news, SVP Marie T. Gallagher sold 7,800 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $125.99, for a total value of $982,722.00. Following the sale, the senior vice president now directly owns 55,665 shares of the company’s stock, valued at $7,013,233.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Yawman sold 25,263 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $126.42, for a total transaction of $3,193,748.46. Following the completion of the sale, the executive vice president now directly owns 80,934 shares in the company, valued at $10,231,676.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,494 shares of company stock valued at $6,173,705. 0.28% of the stock is owned by insiders.

NASDAQ:PEP opened at $133.20 on Wednesday. PepsiCo, Inc. has a 1-year low of $102.82 and a 1-year high of $134.71. The company has a market capitalization of $186.72 billion, a PE ratio of 23.53, a PEG ratio of 3.46 and a beta of 0.61. The company has a quick ratio of 0.75, a current ratio of 0.94 and a debt-to-equity ratio of 1.99.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, April 17th. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.05. PepsiCo had a net margin of 19.37% and a return on equity of 65.12%. The firm had revenue of $12.88 billion during the quarter, compared to the consensus estimate of $12.68 billion. During the same period in the previous year, the firm earned $0.96 earnings per share. PepsiCo’s revenue was up 2.6% compared to the same quarter last year. Research analysts anticipate that PepsiCo, Inc. will post 5.51 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 7th will be paid a dividend of $0.955 per share. This is an increase from PepsiCo’s previous quarterly dividend of $0.93. This represents a $3.82 annualized dividend and a yield of 2.87%. The ex-dividend date is Thursday, June 6th. PepsiCo’s payout ratio is currently 67.49%.

PEP has been the topic of several analyst reports. Macquarie raised shares of PepsiCo from a “neutral” rating to an “outperform” rating and set a $126.00 target price on the stock in a report on Tuesday, February 19th. Gabelli reaffirmed a “buy” rating on shares of PepsiCo in a report on Tuesday, February 19th. BidaskClub raised shares of PepsiCo from a “buy” rating to a “strong-buy” rating in a report on Friday, June 7th. Zacks Investment Research cut shares of PepsiCo from a “hold” rating to a “sell” rating in a research note on Thursday, February 21st. Finally, Royal Bank of Canada reiterated a “neutral” rating and issued a $115.00 price objective on shares of PepsiCo in a research note on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $124.65.

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PepsiCo Profile

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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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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