PepsiCo, Inc. (NASDAQ:PEP) Holdings Cut by Advisory Alpha LLC

Advisory Alpha LLC lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 6,841 shares of the company’s stock after selling 73 shares during the period. Advisory Alpha LLC’s holdings in PepsiCo were worth $1,128,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Pathway Financial Advisers LLC raised its holdings in shares of PepsiCo by 2.1% during the 2nd quarter. Pathway Financial Advisers LLC now owns 34,685 shares of the company’s stock valued at $5,692,000 after purchasing an additional 720 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in shares of PepsiCo by 4.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 331,969 shares of the company’s stock valued at $54,752,000 after purchasing an additional 12,979 shares in the last quarter. Kimelman & Baird LLC bought a new position in shares of PepsiCo during the 2nd quarter valued at $524,000. B. Riley Wealth Advisors Inc. raised its holdings in shares of PepsiCo by 9.5% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 74,612 shares of the company’s stock valued at $12,308,000 after purchasing an additional 6,504 shares in the last quarter. Finally, Gateway Wealth Partners LLC raised its holdings in shares of PepsiCo by 392.6% during the 2nd quarter. Gateway Wealth Partners LLC now owns 5,911 shares of the company’s stock valued at $975,000 after purchasing an additional 4,711 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

PEP has been the topic of a number of recent research reports. Royal Bank of Canada cut 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. Barclays raised their target price on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Jefferies Financial Group lowered their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. TD Cowen lowered their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Finally, Wells Fargo & Company lowered their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $185.40.

PepsiCo Price Performance

Shares of PepsiCo stock opened at $171.38 on Wednesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm’s 50-day simple moving average is $173.92 and its 200-day simple moving average is $172.17. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41. The firm has a market cap of $235.61 billion, a P/E ratio of 24.87, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. During the same period in the previous year, the business earned $2.09 EPS. The firm’s revenue was up .8% on a year-over-year basis. As a group, research analysts expect that PepsiCo, Inc. will post 8.14 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 6th were given a dividend of $1.355 per share. The ex-dividend date was Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.16%. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

PepsiCo Profile

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.