Peloton Wealth Strategists Sells 107 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Peloton Wealth Strategists lowered its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 24,415 shares of the company’s stock after selling 107 shares during the period. PepsiCo makes up approximately 1.7% of Peloton Wealth Strategists’ holdings, making the stock its 21st biggest position. Peloton Wealth Strategists’ holdings in PepsiCo were worth $4,027,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PEP. Flossbach Von Storch AG boosted its position in PepsiCo by 67.2% in the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares during the last quarter. PineStone Asset Management Inc. boosted its holdings in shares of PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after buying an additional 1,523,631 shares during the last quarter. Van ECK Associates Corp grew its position in PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock valued at $254,603,000 after buying an additional 1,179,922 shares during the period. Confluence Investment Management LLC purchased a new stake in PepsiCo during the first quarter valued at approximately $166,243,000. Finally, Legal & General Group Plc boosted its stake in shares of PepsiCo by 7.2% during the 2nd quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock worth $2,234,400,000 after acquiring an additional 905,468 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Trading Up 0.2 %

Shares of PepsiCo stock opened at $170.00 on Friday. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The firm has a market cap of $233.71 billion, a price-to-earnings ratio of 24.67, a PEG ratio of 2.97 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41. The business has a 50-day moving average price of $173.76 and a 200-day moving average price of $171.95.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The company’s revenue was up .8% compared to the same quarter last year. Equities research analysts anticipate that PepsiCo, Inc. will post 8.14 EPS for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid 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 dividend yield of 3.19%. PepsiCo’s payout ratio is currently 78.66%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective on the stock. in a research note on Friday, September 20th. Wells Fargo & Company reduced their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Royal Bank of Canada lowered their price target on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Finally, DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a research report on Friday, July 19th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $185.53.

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.