PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Marcum Wealth LLC

Marcum Wealth LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,938 shares of the company’s stock after selling 114 shares during the quarter. Marcum Wealth LLC’s holdings in PepsiCo were worth $1,473,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Ausdal Financial Partners Inc. boosted its stake in shares of PepsiCo by 0.8% in the second quarter. Ausdal Financial Partners Inc. now owns 7,951 shares of the company’s stock valued at $1,178,000 after buying an additional 64 shares in the last quarter. Mosaic Family Wealth LLC boosted its stake in shares of PepsiCo by 0.8% in the second quarter. Mosaic Family Wealth LLC now owns 8,507 shares of the company’s stock valued at $1,260,000 after buying an additional 65 shares in the last quarter. Loudon Investment Management LLC boosted its stake in shares of PepsiCo by 0.7% in the second quarter. Loudon Investment Management LLC now owns 9,948 shares of the company’s stock valued at $1,474,000 after buying an additional 67 shares in the last quarter. Peninsula Asset Management Inc. boosted its stake in shares of PepsiCo by 0.3% in the second quarter. Peninsula Asset Management Inc. now owns 26,322 shares of the company’s stock valued at $3,900,000 after buying an additional 69 shares in the last quarter. Finally, Valley Brook Capital Group Inc. boosted its stake in shares of PepsiCo by 0.7% in the second quarter. Valley Brook Capital Group Inc. now owns 9,816 shares of the company’s stock valued at $1,454,000 after buying an additional 71 shares in the last quarter. Institutional investors own 70.55% of the company’s stock.

Shares of PEP stock traded up $0.48 during trading hours on Wednesday, hitting $155.63. 28,728 shares of the company’s stock traded hands, compared to its average volume of 4,954,938. PepsiCo, Inc. has a 12 month low of $128.32 and a 12 month high of $159.63. The stock’s 50 day simple moving average is $155.51 and its 200 day simple moving average is $147.54. The stock has a market cap of $215.10 billion, a PE ratio of 26.21, a price-to-earnings-growth ratio of 2.96 and a beta of 0.60. The company has a quick ratio of 0.70, a current ratio of 0.91 and a debt-to-equity ratio of 2.47.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Monday, July 12th. The company reported $1.72 earnings per share for the quarter, topping the consensus estimate of $1.53 by $0.19. The business had revenue of $19.22 billion for the quarter, compared to analysts’ expectations of $17.95 billion. PepsiCo had a net margin of 11.01% and a return on equity of 59.56%. The firm’s revenue for the quarter was up 20.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.32 earnings per share. As a group, equities research analysts expect that PepsiCo, Inc. will post 6.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Friday, September 3rd will be given a $1.075 dividend. This represents a $4.30 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Thursday, September 2nd. PepsiCo’s dividend payout ratio (DPR) is currently 77.90%.

In related news, SVP Marie T. Gallagher sold 7,409 shares of the business’s stock in a transaction that occurred on Monday, July 19th. The shares were sold at an average price of $155.70, for a total transaction of $1,153,581.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by insiders.

A number of analysts have commented on the company. Zacks Investment Research downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $164.00 target price on the stock. in a research report on Monday, August 9th. Truist upped their target price on PepsiCo from $135.00 to $160.00 and gave the company a “hold” rating in a research note on Wednesday, July 14th. Wells Fargo & Company increased their price target on PepsiCo from $147.00 to $160.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 14th. Morgan Stanley raised their target price on PepsiCo from $165.00 to $172.00 and gave the company an “overweight” rating in a research report on Wednesday, July 14th. Finally, Cowen reaffirmed a “buy” rating and set a $165.00 price target on shares of PepsiCo in a research note on Friday, July 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $159.58.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution and sale of beverages, food, and snacks. It is a food and beverage company with a complementary portfolio of brands, including Frito-Lay, Gatorade, Pepsi-Cola, Quaker, and Tropicana. It operates through the following business segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; and Africa, Middle East and South Asia The Frito-Lay North America segment markets, distributes, and sells snack foods under the Lay’s, Doritos, Cheetos, Tostitos, Fritos, Ruffles, and Santitas brands.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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