ICA Group Wealth Management LLC Sells 3,234 Shares of PepsiCo, Inc. (NASDAQ:PEP)

ICA Group Wealth Management LLC reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 93.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 240 shares of the company’s stock after selling 3,234 shares during the quarter. ICA Group Wealth Management LLC’s holdings in PepsiCo were worth $40,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Strategy Asset Managers LLC boosted its holdings in PepsiCo by 0.9% during the 1st quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock valued at $1,161,000 after acquiring an additional 57 shares during the period. Meixler Investment Management Ltd. increased its stake in PepsiCo by 4.4% during the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after buying an additional 58 shares during the period. Opes Wealth Management LLC lifted its holdings in PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after buying an additional 59 shares in the last quarter. Bank of Stockton boosted its position in PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after buying an additional 60 shares during the period. Finally, Oxbow Advisors LLC increased its position in shares of PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after acquiring an additional 60 shares during the period. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. decreased their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Morgan Stanley lowered their price objective on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. BNP Paribas initiated coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 target price for the company. Finally, Royal Bank of Canada dropped their price target on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Stock Performance

NASDAQ:PEP opened at $177.21 on Tuesday. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41. The firm has a 50 day simple moving average of $172.67 and a 200-day simple moving average of $171.57. The firm has a market cap of $243.41 billion, a PE ratio of 25.72, a P/E/G ratio of 3.06 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.09 EPS. On average, equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. PepsiCo’s payout ratio is 78.66%.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of 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.