Rafferty Asset Management LLC Sells 2,372 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Rafferty Asset Management LLC trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 13.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,929 shares of the company’s stock after selling 2,372 shares during the quarter. Rafferty Asset Management LLC’s holdings in PepsiCo were worth $1,649,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Roffman Miller Associates Inc. PA boosted its holdings in PepsiCo by 0.9% during the fourth quarter. Roffman Miller Associates Inc. PA now owns 199,699 shares of the company’s stock worth $22,064,000 after buying an additional 1,761 shares during the last quarter. Jaffetilchin Investment Partners LLC bought a new position in PepsiCo during the fourth quarter worth about $481,000. Commonwealth Equity Services LLC boosted its holdings in PepsiCo by 1.9% during the fourth quarter. Commonwealth Equity Services LLC now owns 618,703 shares of the company’s stock worth $68,354,000 after buying an additional 11,682 shares during the last quarter. Bank of Nova Scotia boosted its holdings in PepsiCo by 46.5% during the fourth quarter. Bank of Nova Scotia now owns 560,762 shares of the company’s stock worth $61,935,000 after buying an additional 177,870 shares during the last quarter. Finally, Keystone Financial Group boosted its holdings in PepsiCo by 6.7% during the fourth quarter. Keystone Financial Group now owns 10,094 shares of the company’s stock worth $1,115,000 after buying an additional 638 shares during the last quarter. Hedge funds and other institutional investors own 70.85% of the company’s stock.

A number of equities analysts have issued reports on PEP shares. Goldman Sachs Group set a $132.00 target price on PepsiCo and gave the stock a “neutral” rating in a report on Wednesday, April 24th. Royal Bank of Canada set a $115.00 price objective on PepsiCo and gave the company a “neutral” rating in a report on Wednesday, April 24th. SunTrust Banks lifted their price objective on PepsiCo to $120.00 and gave the company a “hold” rating in a report on Thursday, April 18th. Macquarie lifted their price objective on PepsiCo from $126.00 to $138.00 and gave the company an “outperform” rating in a report on Thursday, April 18th. Finally, Credit Suisse Group started coverage on PepsiCo in a report on Wednesday, March 6th. They set an “underperform” rating and a $100.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $124.65.

Shares of NASDAQ:PEP traded down $0.56 during trading on Friday, hitting $131.13. 3,228,243 shares of the company were exchanged, compared to its average volume of 4,850,026. The stock has a market capitalization of $184.61 billion, a PE ratio of 23.17, a price-to-earnings-growth ratio of 3.43 and a beta of 0.62. PepsiCo, Inc. has a fifty-two week low of $104.53 and a fifty-two week high of $135.24. The firm has a fifty day simple moving average of $130.91. The company has a current ratio of 0.94, a quick ratio of 0.75 and a debt-to-equity ratio of 1.99.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Wednesday, April 17th. The company reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.05. The firm had revenue of $12.88 billion for the quarter, compared to analyst estimates of $12.68 billion. PepsiCo had a return on equity of 65.12% and a net margin of 19.37%. The business’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.96 EPS. As a group, sell-side analysts predict that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 7th will be issued a dividend of $0.955 per share. The ex-dividend date is Thursday, June 6th. This is a positive change from PepsiCo’s previous quarterly dividend of $0.93. This represents a $3.82 dividend on an annualized basis and a dividend yield of 2.91%. PepsiCo’s payout ratio is presently 67.49%.

In other PepsiCo news, Chairman Ramon Laguarta sold 15,431 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $129.43, for a total value of $1,997,234.33. Following the transaction, the chairman now directly owns 232,394 shares of the company’s stock, valued at approximately $30,078,755.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 value of $3,193,748.46. Following the completion of the transaction, 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. Insiders have sold a total of 48,494 shares of company stock worth $6,173,705 over the last three months. 0.28% of the stock is owned by insiders.

PepsiCo Company 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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