IAG Wealth Partners LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 15.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,347 shares of the company’s stock after selling 249 shares during the period. IAG Wealth Partners LLC’s holdings in PepsiCo were worth $249,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. WFA of San Diego LLC purchased a new stake in PepsiCo in the 2nd quarter worth $188,000. King Luther Capital Management Corp increased its stake in PepsiCo by 1.9% in the 2nd quarter. King Luther Capital Management Corp now owns 1,622,784 shares of the company’s stock worth $300,572,000 after buying an additional 30,199 shares in the last quarter. Profund Advisors LLC increased its stake in PepsiCo by 5.3% in the 2nd quarter. Profund Advisors LLC now owns 78,475 shares of the company’s stock worth $14,535,000 after buying an additional 3,979 shares in the last quarter. Triton Wealth Management PLLC increased its stake in PepsiCo by 0.7% in the 2nd quarter. Triton Wealth Management PLLC now owns 9,426 shares of the company’s stock worth $1,781,000 after buying an additional 68 shares in the last quarter. Finally, Angeles Wealth Management LLC increased its stake in PepsiCo by 1.9% in the 2nd quarter. Angeles Wealth Management LLC now owns 10,784 shares of the company’s stock worth $1,997,000 after buying an additional 206 shares in the last quarter. 71.40% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have commented on the stock. Barclays increased their price objective on shares of PepsiCo from $179.00 to $181.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Evercore ISI dropped their price objective on shares of PepsiCo from $195.00 to $185.00 in a report on Tuesday, October 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $180.00 price target on shares of PepsiCo in a report on Wednesday, October 11th. DZ Bank raised shares of PepsiCo from a “hold” rating to a “buy” rating and set a $187.00 price target for the company in a report on Thursday, October 19th. Finally, Argus lowered their price target on shares of PepsiCo from $212.00 to $186.00 in a report on Wednesday, October 11th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.57.
PepsiCo Stock Performance
Shares of NASDAQ:PEP traded down $0.66 on Monday, hitting $166.10. 547,029 shares of the company were exchanged, compared to its average volume of 4,876,719. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $196.88. The stock’s 50 day moving average price is $167.57 and its 200 day moving average price is $178.60. The company has a current ratio of 0.88, a quick ratio of 0.71 and a debt-to-equity ratio of 1.89. The firm has a market capitalization of $228.36 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 2.68 and a beta of 0.57.
PepsiCo (NASDAQ:PEP – Get Free Report) last posted its quarterly earnings data on Tuesday, October 10th. The company reported $2.25 EPS for the quarter, topping the consensus estimate of $2.15 by $0.10. The business had revenue of $23.45 billion during the quarter, compared to the consensus estimate of $23.41 billion. PepsiCo had a net margin of 9.05% and a return on equity of 58.28%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.97 earnings per share. Sell-side analysts predict that PepsiCo, Inc. will post 7.55 EPS for the current year.
PepsiCo Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 1st will be issued a $1.265 dividend. The ex-dividend date is Thursday, November 30th. This represents a $5.06 dividend on an annualized basis and a yield of 3.05%. PepsiCo’s payout ratio is 84.33%.
Insider Buying and Selling at PepsiCo
In other PepsiCo news, CFO Hugh F. Johnston sold 48,388 shares of PepsiCo stock in a transaction on Friday, November 10th. The shares were sold at an average price of $166.65, for a total value of $8,063,860.20. Following the completion of the transaction, the chief financial officer now owns 96,627 shares of the company’s stock, valued at $16,102,889.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is owned by corporate insiders.
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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