Harel Insurance Investments & Financial Services Ltd. is reducing its stake in PepsiCo, Inc. (NASDAQ:PEP)


Harel Insurance Investments & Financial Services Ltd. reduced its stake in PepsiCo, Inc. (NASDAQ:PEP – Get Rating ) by 50.9% in the first quarter, HoldingsChannel reports. The fund owned 362 shares of the company’s stock after selling 376 shares during the period. The holdings of Harel Insurance Investments & Financial Services Ltd. in PepsiCo were worth $61,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PEP. Norges Bank purchased a new stake in shares of PepsiCo in the fourth quarter valued at $2,180,925,000. BlackRock Inc. grew its position in shares of 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 in the last quarter. Sanders Capital LLC boosted its position in shares of 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 last quarter. Capital Research Global Investors boosted its position in shares of PepsiCo by 9.6% during the fourth quarter. Capital Research Global Investors now owns 18,698,968 shares of the company’s stock valued at $3,248,196,000 after buying an additional 1,634,702 shares in the last quarter. Finally, Alphinity Investment Management Pty Ltd purchased a new stake in shares of PepsiCo in the fourth quarter valued at $213,908,000. 72.12% of the shares are owned by hedge funds and other institutional investors.

PepsiCo’s stock rose 0.7%

Shares of NASDAQ PEP opened at $169.61 on Monday. The stock has a market cap of $234.08 billion, a P/E ratio of 25.54, a PEG ratio of 3.33 and a beta of 0.56. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.78. PepsiCo, Inc. has a 12-month low of $149.48 and a 12-month high of $177.62. The business’s fifty day simple moving average is $166.69 and the 200 day simple moving average is $168.50.

PepsiCo (NASDAQ:PEP – Get Rating ) last announced its quarterly earnings data on Tuesday, July 12th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.13. The business had revenue of $20.23 billion for the quarter, compared to analysts’ expectations of $19.51 billion. PepsiCo has a return on equity of 52.01% and a net margin of 11.28%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the firm earned $1.72 earnings per share. As a group, equities analysts predict that PepsiCo, Inc. will post 6.65 EPS for the current fiscal year.

Dividend announcement from PepsiCo

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be paid a $1.15 dividend. This represents an annualized dividend of $4.60 and a yield of 2.71%. The ex-dividend date is Thursday, September 1st. PepsiCo’s dividend payout ratio is currently 69.28%.

Insider Buying and Selling at PepsiCo

In other news, CEO Stephen K. Williams sold 1,753 shares of PepsiCo stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $171.18, for a total transaction of $300,078.54. Following the sale, the chief executive officer now owns 70,892 shares in the company, valued at $12,135,292.56. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed through the SEC’s website. In other news, EVP David Flavell sold 5,150 shares of PepsiCo stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $175.11, for a total transaction of $901,816.50. Following the sale, the executive vice president now owns 28,275 shares in the company, valued at $4,951,235.25. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which can be accessed through the SEC’s website. Also, CEO Stephen K. Williams sold 1,753 shares of PepsiCo 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 sale, the chief executive officer now owns 70,892 shares in the company, valued at approximately $12,135,292.56. Disclosure of this sale can be found here. Insiders have sold a total of 11,463 shares of company stock valued at $2,002,677 over the last ninety days. Corporate insiders own 0.12% of the company’s stock.

Promote and demote an analyst

A number of research analysts weigh in on the company. Deutsche Bank Aktiengesellschaft upped their target price on PepsiCo from $175.00 to $178.00 and gave the company a “hold” rating in a report on Thursday, July 7th. Credit Suisse Group upped their target price on PepsiCo from $168.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. Guggenheim boosted their target price on PepsiCo from $188.00 to $193.00 in a report on Wednesday, April 27th. Barclays reduced their target price on PepsiCo from $187.00 to $183.00 and set an “overweight” rating on the stock in a report on Wednesday, July 6th. Finally, UBS Group dropped their target price on PepsiCo from $190.00 to $182.00 and set a “buy” rating on the stock in a report on Tuesday, June 21st. Five research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Moderate Buy” and an average target price of $182.00, according to MarketBeat.

About PepsiCo

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PepsiCo, Inc manufactures, markets, distributes and sells a variety of beverages and convenience foods worldwide. The company operates in 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.

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Want to see what other hedge funds are holding PEP? Visit HoldingsChannel.com to get the latest 13F filings and insider deals for PepsiCo, Inc. (NASDAQ:PEP – Get Rating ).

Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)



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