Profit Investment Management LLC Has $651,000 Stake in PepsiCo, Inc. (NASDAQ:PEP)

Profit Investment Management LLC trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 6.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,917 shares of the company’s stock after selling 275 shares during the quarter. Profit Investment Management LLC’s holdings in PepsiCo were worth $651,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PEP. Thrive Wealth Management LLC grew its position in shares of PepsiCo by 34.5% in the second quarter. Thrive Wealth Management LLC now owns 3,621 shares of the company’s stock valued at $603,000 after purchasing an additional 928 shares during the last quarter. MJP Associates Inc. ADV grew its position in shares of PepsiCo by 25.8% in the second quarter. MJP Associates Inc. ADV now owns 6,839 shares of the company’s stock valued at $1,140,000 after purchasing an additional 1,404 shares during the last quarter. West Coast Financial LLC grew its position in shares of PepsiCo by 0.7% in the second quarter. West Coast Financial LLC now owns 72,753 shares of the company’s stock valued at $12,125,000 after purchasing an additional 493 shares during the last quarter. Windward Capital Management Co. CA grew its position in shares of PepsiCo by 0.6% in the second quarter. Windward Capital Management Co. CA now owns 118,368 shares of the company’s stock valued at $19,727,000 after purchasing an additional 704 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its position in shares of PepsiCo by 13.3% in the second quarter. State of Alaska Department of Revenue now owns 287,486 shares of the company’s stock valued at $47,911,000 after purchasing an additional 33,745 shares during the last quarter. 71.38% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Up 0.7 %

Shares of PEP opened at $166.97 on Monday. The stock has a market cap of $230.40 billion, a price-to-earnings ratio of 25.15, a P/E/G ratio of 3.27 and a beta of 0.55. The company has a quick ratio of 0.64, a current ratio of 0.83 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 $181.07. The company has a 50-day moving average price of $173.45 and a two-hundred day moving average price of $170.50.

PepsiCo (NASDAQ:PEPGet Rating) last posted its earnings results on Tuesday, July 12th. The company reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.73 by $0.13. PepsiCo had a net margin of 11.28% and a return on equity of 52.01%. The company had revenue of $20.23 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same quarter in the previous year, the company posted $1.72 earnings per share. PepsiCo’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities analysts predict that PepsiCo, Inc. will post 6.66 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company 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 a $4.60 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Thursday, September 1st. PepsiCo’s dividend payout ratio (DPR) is currently 69.28%.

Analyst Ratings Changes

PEP has been the topic of several research analyst reports. Barclays lowered their price target on PepsiCo from $187.00 to $183.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 6th. Credit Suisse Group increased their target price on shares of PepsiCo from $168.00 to $170.00 and gave the company a “neutral” rating in a research note on Wednesday, July 13th. Deutsche Bank Aktiengesellschaft increased their target price on shares of PepsiCo from $175.00 to $178.00 and gave the company a “hold” rating in a research note on Thursday, July 7th. UBS Group reduced their target price on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a research note on Tuesday, June 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a research note on Wednesday, July 6th. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $182.00.

Insider Activity

In other news, CEO Ramkumar Krishnan sold 3,433 shares of PepsiCo stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $174.83, for a total value of $600,191.39. Following the completion of the transaction, the chief executive officer now owns 50,577 shares in the company, valued at $8,842,376.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Steven C. Williams sold 1,753 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of $171.18, for a total value of $300,078.54. Following the completion of the sale, the chief executive officer now owns 70,892 shares of the company’s stock, valued at $12,135,292.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ramkumar Krishnan sold 3,433 shares of the firm’s stock in a transaction that occurred on Thursday, July 28th. The shares were sold at an average price of $174.83, for a total transaction of $600,191.39. Following the completion of the sale, the chief executive officer now directly owns 50,577 shares of the company’s stock, valued at approximately $8,842,376.91. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by corporate insiders.

PepsiCo Profile

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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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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