Texas Capital Bancshares Inc TX Lowers Position in PepsiCo, Inc. (NASDAQ:PEP)

Texas Capital Bancshares Inc TX decreased its stake in PepsiCo, Inc. (NASDAQ:PEP) by 24.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,017 shares of the company’s stock after selling 650 shares during the quarter. Texas Capital Bancshares Inc TX’s holdings in PepsiCo were worth $333,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Valued Wealth Advisors LLC grew its stake in shares of PepsiCo by 77.5% during 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 holdings 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 purchased a new stake in shares of PepsiCo in the second quarter worth about $30,000. Fortis Group Advisors LLC lifted its holdings in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in PepsiCo during the 1st quarter valued at $35,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PEP. Bank of America decreased their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, July 8th. TD Cowen decreased their price objective 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. Royal Bank of Canada decreased their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company reduced their price objective 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. Finally, StockNews.com lowered shares of PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Nine investment 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 has a consensus rating of “Hold” and an average target price of $185.53.

PepsiCo Stock Up 0.2 %

Shares of PEP stock opened at $170.00 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The company has a 50 day simple moving average of $173.76 and a two-hundred day simple moving average of $171.95. The stock has a market cap of $233.71 billion, a P/E ratio of 24.67, a P/E/G ratio of 2.97 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41.

PepsiCo (NASDAQ:PEP) last released its quarterly 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 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 analyst estimates of $22.59 billion. During the same quarter in the prior year, the firm posted $2.09 EPS. PepsiCo’s quarterly revenue was up .8% compared to the same quarter last year. On average, research analysts expect that PepsiCo, Inc. will post 8.14 earnings per share for the current year.

PepsiCo Announces Dividend

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 given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s dividend payout ratio is presently 78.66%.

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.