PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Drake & Associates LLC

Drake & Associates LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 10.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,601 shares of the company’s stock after selling 184 shares during the period. Drake & Associates LLC’s holdings in PepsiCo were worth $297,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Essex Savings Bank boosted its holdings in PepsiCo by 0.6% in the 1st quarter. Essex Savings Bank now owns 18,928 shares of the company’s stock valued at $3,451,000 after purchasing an additional 107 shares in the last quarter. First Personal Financial Services boosted its stake in shares of PepsiCo by 2.0% during the 1st quarter. First Personal Financial Services now owns 32,470 shares of the company’s stock worth $5,919,000 after acquiring an additional 623 shares in the last quarter. Warther Private Wealth LLC boosted its stake in shares of PepsiCo by 7.4% during the 1st quarter. Warther Private Wealth LLC now owns 2,479 shares of the company’s stock worth $452,000 after acquiring an additional 171 shares in the last quarter. Zuckerman Investment Group LLC boosted its stake in shares of PepsiCo by 4.4% during the 1st quarter. Zuckerman Investment Group LLC now owns 1,831 shares of the company’s stock worth $334,000 after acquiring an additional 78 shares in the last quarter. Finally, Trinity Legacy Partners LLC boosted its stake in shares of PepsiCo by 0.3% during the 1st quarter. Trinity Legacy Partners LLC now owns 31,270 shares of the company’s stock worth $5,701,000 after acquiring an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 71.40% of the company’s stock.

PepsiCo Trading Down 0.8 %

Shares of PEP opened at $179.84 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.64 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $247.56 billion, a P/E ratio of 31.50, a price-to-earnings-growth ratio of 2.97 and a beta of 0.54. The stock’s fifty day simple moving average is $182.67 and its 200 day simple moving average is $184.61. PepsiCo, Inc. has a twelve month low of $160.98 and a twelve month high of $196.88.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 13th. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.96 by $0.13. The business had revenue of $22.32 billion for the quarter, compared to analyst estimates of $21.73 billion. PepsiCo had a return on equity of 56.05% and a net margin of 8.76%. The business’s quarterly revenue was up 10.4% on a year-over-year basis. During the same period last year, the company posted $1.86 EPS. On average, equities research analysts forecast that PepsiCo, Inc. will post 7.48 earnings per share for the current year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $1.265 dividend. This represents a $5.06 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, August 31st. PepsiCo’s dividend payout ratio (DPR) is presently 88.62%.

Wall Street Analysts Forecast Growth

PEP has been the topic of a number of recent research reports. Argus upped their target price on PepsiCo from $206.00 to $212.00 in a research note on Friday, July 14th. Barclays reduced their target price on PepsiCo from $206.00 to $198.00 in a research note on Monday, July 10th. Deutsche Bank Aktiengesellschaft upped their target price on PepsiCo from $193.00 to $195.00 in a research note on Friday, July 14th. Wedbush upped their target price on PepsiCo from $200.00 to $206.00 and gave the company an “outperform” rating in a research note on Friday, July 14th. Finally, Morgan Stanley lowered PepsiCo from an “overweight” rating to an “equal weight” rating and set a $210.00 price target on the stock. in a research note on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $192.00.

PepsiCo Company Profile

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.