Davidson Investment Advisors decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP – Free Report) by 96.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,900 shares of the company’s stock after selling 76,593 shares during the period. Davidson Investment Advisors’ holdings in PepsiCo were worth $537,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Liberty One Investment Management LLC boosted its stake in shares of PepsiCo by 1.2% during the 2nd quarter. Liberty One Investment Management LLC now owns 145,654 shares of the company’s stock worth $26,978,000 after acquiring an additional 1,693 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in PepsiCo by 1.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 56,472 shares of the company’s stock valued at $10,460,000 after buying an additional 639 shares in the last quarter. Warther Private Wealth LLC lifted its stake in PepsiCo by 7.4% in the 1st quarter. Warther Private Wealth LLC now owns 2,479 shares of the company’s stock valued at $452,000 after buying an additional 171 shares in the last quarter. Zuckerman Investment Group LLC lifted its stake in PepsiCo by 4.4% in the 1st quarter. Zuckerman Investment Group LLC now owns 1,831 shares of the company’s stock valued at $334,000 after buying an additional 78 shares in the last quarter. Finally, Mid American Wealth Advisory Group Inc. purchased a new position in shares of PepsiCo during the 2nd quarter worth $865,000. Hedge funds and other institutional investors own 71.40% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on PEP. Evercore ISI reduced their price target on PepsiCo from $195.00 to $185.00 in a research note on Tuesday, October 3rd. Jefferies Financial Group began coverage on PepsiCo in a research note on Monday, November 13th. They set a “buy” rating and a $203.00 price target on the stock. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Friday, October 13th. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $188.00 to $185.00 and set an “overweight” rating for the company in a report on Wednesday, October 11th. Finally, DZ Bank upgraded PepsiCo from a “hold” rating to a “buy” rating and set a $187.00 price objective for the company in a report on Thursday, October 19th. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $187.57.
In other PepsiCo news, CFO Hugh F. Johnston sold 48,388 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $166.65, for a total transaction of $8,063,860.20. Following the sale, the chief financial officer now directly owns 96,627 shares of the company’s stock, valued at $16,102,889.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company’s stock.
PepsiCo Stock Down 0.3 %
NASDAQ:PEP traded down $0.58 on Monday, reaching $166.18. The stock had a trading volume of 1,707,595 shares, compared to its average volume of 4,882,041. The company has a 50-day moving average of $167.57 and a 200 day moving average of $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 stock has a market cap of $228.47 billion, a P/E ratio of 27.75, a price-to-earnings-growth ratio of 2.68 and a beta of 0.57. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $196.88.
PepsiCo (NASDAQ:PEP – Get Free Report) last posted its quarterly earnings data on Tuesday, October 10th. The company reported $2.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.15 by $0.10. The company had revenue of $23.45 billion for the quarter, compared to the consensus estimate of $23.41 billion. PepsiCo had a return on equity of 58.28% and a net margin of 9.05%. PepsiCo’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 business earned $1.97 EPS. On average, research analysts predict that PepsiCo, Inc. will post 7.55 earnings per share for the current year.
PepsiCo Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 5th. Shareholders of record on Friday, December 1st will be issued a dividend of $1.265 per share. This represents a $5.06 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date of this dividend is Thursday, November 30th. PepsiCo’s dividend payout ratio is presently 84.33%.
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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