Mcmorgan & Co. LLC Reduces Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Mcmorgan & Co. LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 19.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,167 shares of the company’s stock after selling 1,000 shares during the period. Mcmorgan & Co. LLC’s holdings in PepsiCo were worth $687,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PEP. Valued Wealth Advisors LLC grew its position in PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after buying an additional 69 shares during the last quarter. POM Investment Strategies LLC raised its stake in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after buying an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in PepsiCo in the 2nd quarter valued at about $30,000. Fortis Group Advisors LLC raised its stake in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in PepsiCo in the 1st quarter valued at about $35,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Trading Up 0.2 %

Shares of PEP stock opened at $169.69 on Friday. The stock’s fifty day moving average price is $173.77 and its two-hundred day moving average price is $171.96. The company has a market cap of $233.29 billion, a PE ratio of 24.63, a P/E/G ratio of 2.97 and a beta of 0.53. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data 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 return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter last year, the business posted $2.09 EPS. PepsiCo’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts predict that PepsiCo, Inc. will post 8.14 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.19%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is presently 78.66%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PEP. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a report on Friday, September 20th. TD Cowen lowered their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Bank of America lowered their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. BNP Paribas started coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. Finally, Morgan Stanley cut PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research note on Friday, September 20th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $185.53.

PepsiCo Company 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.