Profit Investment Management LLC Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Cordant Inc. purchased a new position in PepsiCo during the first quarter worth about $27,000. Strategic Asset Management LLC raised its holdings in PepsiCo by 53.3% during the first quarter. Strategic Asset Management LLC now owns 276 shares of the company’s stock worth $46,000 after purchasing an additional 96 shares in the last quarter. Landmark Wealth Management LLC purchased a new position in PepsiCo during the first quarter worth about $29,000. Retirement Group LLC raised its holdings in PepsiCo by 100.0% during the first quarter. Retirement Group LLC now owns 322 shares of the company’s stock worth $54,000 after purchasing an additional 161 shares in the last quarter. Finally, Lansing Street Advisors purchased a new position in PepsiCo during the first quarter worth about $58,000. 71.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Steven C. Williams sold 1,753 shares of PepsiCo stock in a transaction on Friday, July 15th. The stock was 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 available through the SEC website. In other news, CEO Steven C. Williams sold 1,753 shares of PepsiCo stock in a transaction on Friday, July 15th. The stock was 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 available through the SEC website. Also, CEO Ramkumar Krishnan sold 3,433 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $174.83, for a total value of $600,191.39. Following 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. Company insiders own 0.12% of the company’s stock.

PepsiCo Stock Performance

NASDAQ PEP opened at $166.97 on Monday. PepsiCo, Inc. has a fifty-two week low of $149.48 and a fifty-two week high of $181.07. The stock has a market cap of $230.40 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 3.27 and a beta of 0.55. The business has a fifty day moving average of $173.45 and a 200-day moving average of $170.50. 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 (NASDAQ:PEPGet Rating) last released its quarterly earnings results on Tuesday, July 12th. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.73 by $0.13. PepsiCo had a return on equity of 52.01% and a net margin of 11.28%. The company had revenue of $20.23 billion during the quarter, compared to analysts’ expectations of $19.51 billion. During the same period in the previous year, the firm posted $1.72 earnings per share. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. As a group, analysts predict that PepsiCo, Inc. will post 6.66 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be given 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 of this dividend is Thursday, September 1st. PepsiCo’s dividend payout ratio is currently 69.28%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. 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 report on Thursday, July 7th. Wells Fargo & Company dropped their target price on shares of PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a report on Tuesday, June 21st. 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 report on Wednesday, July 13th. Barclays dropped their target price on shares of PepsiCo from $187.00 to $183.00 and set an “overweight” rating for the company in a report on Wednesday, July 6th. Finally, UBS Group dropped their target price on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $182.00.

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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