Ritholtz Wealth Management Sells 1,725 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Ritholtz Wealth Management lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,791 shares of the company’s stock after selling 1,725 shares during the quarter. Ritholtz Wealth Management’s holdings in PepsiCo were worth $2,604,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Valued Wealth Advisors LLC increased its holdings in PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC increased its stake in shares of PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo during the second quarter worth $30,000. Fortis Group Advisors LLC grew its holdings in PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of PepsiCo during the first quarter valued at about $35,000. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

PEP opened at $172.88 on Monday. The company has a market capitalization of $237.46 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 2.99 and a beta of 0.52. 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 50-day moving average price of $169.92 and a 200-day moving average price of $170.83. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41.

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

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Analyst Ratings Changes

A number of brokerages recently commented on PEP. Royal Bank of Canada decreased their target price on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. BNP Paribas began coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 target price on the stock. Jefferies Financial Group reduced their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, July 9th. 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 report on Friday, July 19th. Finally, Morgan Stanley decreased their target price on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $185.53.

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.