September 19, 2023
Contravisory Investment Management Inc. Expands Holdings in PepsiCo, Inc.
Contravisory Investment Management Inc., a prominent investment management company, has recently announced an increase in its position in PepsiCo, Inc. (NASDAQ:PEP) during the second quarter of this year. According to the latest filing with the Securities & Exchange Commission, Contravisory Investment Management Inc. acquired an additional 2,933 shares of PepsiCo stock, resulting in an 8.5% increase. The fund now holds a total of 37,393 shares in the company.
The current holding represents approximately 1.8% of Contravisory Investment Management Inc.’s overall portfolio, ranking it as their 23rd largest position. As of the end of the most recent quarter, the value of Contravisory Investment Management Inc.’s holdings in PepsiCo stood at $6,926,000.
PepsiCo (NASDAQ:PEP) recently reported its quarterly earnings on Thursday, July 13th. The company surpassed expectations by posting earnings per share (EPS) of $2.09 for the quarter, beating the consensus estimate by $0.13. This result highlights PepsiCo’s strong performance and ability to exceed market expectations.
Moreover, PepsiCo’s net margin was reported as 8.76%, indicating healthy profitability for the quarter. Additionally, the company achieved a return on equity of 56.05%, showcasing its efficiency in generating profits from shareholder investments.
In terms of revenue growth, PepsiCo posted impressive figures for the quarter ended July 13th as well. The company generated $22.32 billion in revenue during this period compared to the consensus estimate of $21.73 billion. This represents a commendable year-over-year increase of 10.4%.
Looking ahead to future performance indicators and forecasts, industry analysts predict that PepsiCo will likely report earnings per share of 7.48 for the current fiscal year. This projection demonstrates the positive sentiment surrounding PepsiCo’s potential to maintain its growth trajectory.
PepsiCo, Inc. remains a prominent player in the consumer goods industry, known worldwide for its diverse portfolio of food and beverage products. With renowned brands such as Pepsi, Mountain Dew, Lay’s, and Gatorade under its umbrella, PepsiCo has a strong market presence.
As Contravisory Investment Management Inc. continues to expand its holdings in PepsiCo, it signifies their confidence in the company’s long-term growth prospects. Investors and stakeholders will keenly observe future updates from both companies to gain insights into their performance within the global market.
Disclaimer: The above references to financial data and forecasts are based on publicly available information and should not be considered as investment advice. Investors should conduct thorough research and analysis before making any investment decisions.
Integra LifeSciences Holdings Corporation
Updated on: 20/09/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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|Analyst / firm||Rating|
Shagun Singh Chadha
PepsiCo Attracts Hedge Fund Interest: Analysis and Speculation on Recent Stakes Adjustments
In recent months, a number of hedge funds have made adjustments to their stakes in PepsiCo (PEP), causing much speculation and analysis within the financial world. Buckley Wealth Management LLC, for instance, has increased its stake in PepsiCo by 19.2% over the past quarter, now owning 7,439 shares valued at $1,378,000. This increase was buoyed by the acquisition of an additional 1,200 shares.
Thrive Wealth Management LLC also experienced a modest increase in its stake with an additional 164 shares purchased during the last quarter. This brought their total ownership to 4,592 shares valued at $850,000. Meanwhile, LifePro Asset Management boosted its ownership by 22.5%, acquiring an additional 662 shares valued at $668,000. Legacy Bridge LLC saw a more modest increase of 4.3%, adding an extra 219 shares to its portfolio which are valued at $983,000.
The interest in PepsiCo is not limited to established wealth management firms. Selective Wealth Management Inc., a relative newcomer to the scene, acquired a new stake in the company worth $246,000 during the second quarter.
This trend indicates that hedge funds and institutional investors continue to view PepsiCo as a solid investment opportunity. At present, these entities own approximately 71.40% of the stock.
On Tuesday’s opening market session on September 19th, PEP opened at $179.38 per share. Over the past year, PepsiCo’s stock price has fluctuated between a low of $160.98 and a high of $196.88 – indicative of both stability and growth potential.
With a market capitalization of $246.93 billion and a PE ratio of 31.42,this leading food and beverage company remains attractive despite such fluctuations in stock prices.Set against other indicators such as quick ratio (0.64), current ratio (0.84), and debt-to-equity ratio (2.02), PepsiCo maintains a solid position within the market.
Investors have been eagerly anticipating the company’s quarterly dividend announcement, which is scheduled to be paid on September 29th. Stockholders of record as of September 1st will receive a dividend of $1.265 per share, resulting in an annualized dividend of $5.06 and a yield of 2.82%.
The upcoming ex-dividend date is set for August 31st, creating anticipation among investors as they look forward to analyzing the company’s future prospects.
Various brokerages have provided their assessments on PepsiCo’s stock performance. Wedbush, for instance, has boosted their target price from $200.00 to $206.00, while Evercore ISI increased their price objective from $190.00 to $195.00.
Deutsche Bank Aktiengesellschaft also raised their price objective from $193.00 to $195.00, indicating positive sentiment towards PepsiCo’s potential growth in the market.
However, there have been differing opinions among experts as well. Morgan Stanley downgraded the stock from “overweight” to “equal weight” and set a lower price objective of $210, suggesting a more cautious approach towards investing in PepsiCo shares.
Similarly, Barclays lowered its price objective from $206 to $198 in light of recent developments.
Overall, it seems that analysts are cautiously optimistic about the future performance of PepsiCo shares – with one sell rating, seven hold ratings, and five buy ratings recorded thus far.
According to Bloomberg.com data,the current consensus rating for PepsiCo stands at “Hold,” with a consensus price target of $192 per share.
As we move further into September 2023, investors will closely monitor any significant developments or changes within the company that may impact its financial standing and future prospects in the market.