Perritt Capital Management Inc. reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 6.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 6,256 shares of the company’s stock after selling 421 shares during the period. Perritt Capital Management Inc.’s holdings in PepsiCo were worth $820,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the stock. Personal Wealth Partners bought a new position in shares of PepsiCo during the second quarter valued at approximately $25,000. Krane Funds Advisors LLC bought a new stake in PepsiCo during the 2nd quarter valued at $25,000. Evolution Wealth Advisors LLC bought a new stake in PepsiCo during the 2nd quarter valued at $27,000. Financial Advantage Inc. bought a new stake in PepsiCo during the 2nd quarter valued at $28,000. Finally, G&S Capital LLC increased its holdings in shares of PepsiCo by 96.3% in the 2nd quarter. G&S Capital LLC now owns 371 shares of the company’s stock valued at $49,000 after acquiring an additional 182 shares during the period. 71.51% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently commented on PEP shares. Morgan Stanley reissued an “overweight” rating and issued a $149.00 price target (up from $143.00) on shares of PepsiCo in a research report on Wednesday. They noted that the move was a valuation call. Wells Fargo & Co lifted their target price on PepsiCo from $120.00 to $127.00 and gave the company a “positive” rating in a research note on Tuesday, May 14th. Jefferies Financial Group lifted their target price on PepsiCo from $123.00 to $134.00 and gave the company a “hold” rating in a research note on Wednesday, July 10th. Bank of America boosted their target price on shares of PepsiCo from $135.00 to $142.00 and gave the stock a “buy” rating in a report on Wednesday, July 10th. Finally, SunTrust Banks reiterated a “hold” rating and set a $125.00 price objective on shares of PepsiCo in a research note on Wednesday, July 10th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the company’s stock. PepsiCo has an average rating of “Buy” and a consensus target price of $130.50.
In other PepsiCo news, CEO Steven C. Williams sold 2,420 shares of PepsiCo stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $133.95, for a total transaction of $324,159.00. Following the completion of the sale, the chief executive officer now directly owns 54,920 shares in the company, valued at approximately $7,356,534. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kirk Tanner sold 9,573 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total transaction of $1,226,779.95. Following the completion of the sale, the chief executive officer now directly owns 105,350 shares in the company, valued at $13,500,602.50. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.
Shares of PEP traded up $0.10 during mid-day trading on Wednesday, hitting $135.96. 542,200 shares of the company traded hands, compared to its average volume of 3,696,027. The company has a quick ratio of 0.66, a current ratio of 0.86 and a debt-to-equity ratio of 1.97. PepsiCo, Inc. has a 1-year low of $104.53 and a 1-year high of $139.18. The company has a market capitalization of $190.71 billion, a PE ratio of 24.03, a price-to-earnings-growth ratio of 3.54 and a beta of 0.56. The business has a 50 day moving average of $131.91 and a 200 day moving average of $127.68.
PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.49 by $0.05. The business had revenue of $16.45 billion during the quarter, compared to the consensus estimate of $16.44 billion. PepsiCo had a net margin of 19.59% and a return on equity of 59.50%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 earnings per share. As a group, research analysts expect that PepsiCo, Inc. will post 5.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $0.955 dividend. The ex-dividend date is Thursday, September 5th. This represents a $3.82 dividend on an annualized basis and a yield of 2.81%. PepsiCo’s dividend payout ratio (DPR) is 67.49%.
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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