Corsicana & Co. Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

Corsicana & Co. decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 5.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,270 shares of the company’s stock after selling 361 shares during the period. Corsicana & Co.’s holdings in PepsiCo were worth $1,045,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of PEP. Cordant Inc. purchased a new position in shares of PepsiCo during the first quarter valued at approximately $27,000. Landmark Wealth Management LLC acquired a new position in PepsiCo during the first quarter worth approximately $29,000. Strategic Asset Management LLC increased its position 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 during the last quarter. Retirement Group LLC increased its position 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 during the last quarter. Finally, Lansing Street Advisors acquired a new position in PepsiCo during the first quarter worth approximately $58,000. Hedge funds and other institutional investors own 71.38% of the company’s stock.

PepsiCo Price Performance

PEP opened at $168.60 on Friday. The company has a fifty day simple moving average of $173.32 and a 200 day simple moving average of $170.45. The firm has a market cap of $232.65 billion, a price-to-earnings ratio of 25.39, a PEG ratio of 3.30 and a beta of 0.55. PepsiCo, Inc. has a twelve month low of $149.48 and a twelve month high of $181.07. The company has a current ratio of 0.83, a quick ratio of 0.64 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, beating analysts’ consensus estimates of $1.73 by $0.13. The business had revenue of $20.23 billion during the quarter, compared to analyst estimates of $19.51 billion. PepsiCo had a net margin of 11.28% and a return on equity of 52.01%. The business’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the business earned $1.72 EPS. Equities research analysts expect that PepsiCo, Inc. will post 6.66 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 2nd will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.60 dividend on an annualized basis and a yield of 2.73%. PepsiCo’s dividend payout ratio (DPR) is 69.28%.

Insider Buying and Selling at PepsiCo

In other PepsiCo news, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 50,577 shares in the company, valued at approximately $8,842,376.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other PepsiCo news, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 50,577 shares in the company, valued at approximately $8,842,376.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Steven C. Williams sold 1,753 shares of the stock in a transaction on Friday, July 15th. The shares were sold at an average price of $171.18, for a total transaction of $300,078.54. Following the transaction, the chief executive officer now owns 70,892 shares in the company, valued at $12,135,292.56. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PEP shares. Barclays dropped their price target on shares of PepsiCo from $187.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Wells Fargo & Company dropped their price target on shares of PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of PepsiCo from $175.00 to $178.00 and gave the stock a “hold” rating in a research report on Thursday, July 7th. UBS Group dropped their price objective on shares of PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a research report on Tuesday, June 21st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Five analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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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