Meyer Handelman Co. Has $46.18 Million Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Defense World · Sep 25, 2022 20:31

Meyer Handelman Co. cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Get Rating) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 277,104 shares of the company's stock after selling 3,800 shares during the period. PepsiCo comprises approximately 2.0% of Meyer Handelman Co.'s investment portfolio, making the stock its 11th biggest position. Meyer Handelman Co.'s holdings in PepsiCo were worth $46,183,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in PepsiCo in the fourth quarter valued at $2,180,925,000. BlackRock Inc. increased its holdings in PepsiCo by 5.5% in the fourth quarter. BlackRock Inc. now owns 105,501,759 shares of the company's stock valued at $18,326,710,000 after purchasing an additional 5,454,097 shares during the period. Royal Bank of Canada increased its holdings in PepsiCo by 56.6% in the first quarter. Royal Bank of Canada now owns 14,810,738 shares of the company's stock valued at $2,479,022,000 after purchasing an additional 5,352,721 shares during the period. Vanguard Group Inc. increased its holdings in PepsiCo by 1.6% in the first quarter. Vanguard Group Inc. now owns 124,592,570 shares of the company's stock valued at $20,854,304,000 after purchasing an additional 1,991,968 shares during the period. Finally, Sanders Capital LLC increased its holdings in PepsiCo by 34.3% in the fourth quarter. Sanders Capital LLC now owns 6,691,540 shares of the company's stock valued at $1,285,136,000 after purchasing an additional 1,708,005 shares during the period. 71.38% of the stock is currently owned by institutional investors and hedge funds.

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PepsiCo Price Performance

PEP stock opened at $168.52 on Friday. The stock has a market capitalization of $232.54 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 3.30 and a beta of 0.55. The company's 50-day moving average is $173.27 and its 200-day moving average is $170.42. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.83 and a quick ratio of 0.64. PepsiCo, Inc. has a 1 year low of $149.48 and a 1 year high of $181.07.

PepsiCo (NASDAQ:PEP – Get Rating) last announced its quarterly earnings results on Tuesday, July 12th. The company reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.13. PepsiCo had a net margin of 11.28% and a return on equity of 52.01%. The business had revenue of $20.23 billion for the quarter, compared to analysts' expectations of $19.51 billion. During the same quarter last year, the firm earned $1.72 EPS. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts expect that PepsiCo, Inc. will post 6.66 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be given a $1.15 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.60 annualized dividend and a yield of 2.73%. PepsiCo's payout ratio is 69.28%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Deutsche Bank Aktiengesellschaft upped their price target on shares of PepsiCo from $175.00 to $178.00 and gave the company a "hold" rating in a research report on Thursday, July 7th. JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $186.00 to $185.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 6th. Wells Fargo & Company cut their price target on shares of PepsiCo from $175.00 to $172.00 and set an "equal weight" rating on the stock in a research report on Tuesday, June 21st. UBS Group cut their price target on shares of PepsiCo from $190.00 to $182.00 and set a "buy" rating on the stock in a research report on Tuesday, June 21st. Finally, Barclays cut their price target on shares of PepsiCo from $187.00 to $183.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 6th. Five equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, PepsiCo presently has a consensus rating of "Moderate Buy" and a consensus target price of $182.00.

Insider Activity at PepsiCo

In related news, CEO Steven C. Williams sold 1,753 shares of the firm's stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $171.18, for a total value of $300,078.54. Following the transaction, the chief executive officer now owns 70,892 shares of the company's stock, valued at approximately $12,135,292.56. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other PepsiCo news, CEO Steven C. Williams sold 1,753 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $171.18, for a total value of $300,078.54. Following the completion of the sale, the chief executive officer now owns 70,892 shares in the company, valued at approximately $12,135,292.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $174.83, for a total transaction of $600,191.39. Following the completion of the sale, the chief executive officer now owns 50,577 shares of the company's stock, valued at approximately $8,842,376.91. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

PepsiCo Company Profile

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PepsiCo, Inc manufactures, markets, distributes, and sells various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.