Prio Wealth Limited Partnership Has $13.29 Million Position in PepsiCo, Inc. (NASDAQ:PEP)

Prio Wealth Limited Partnership decreased its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 25.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 80,567 shares of the company’s stock after selling 28,150 shares during the quarter. Prio Wealth Limited Partnership’s holdings in PepsiCo were worth $13,288,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PEP. Heritage Wealth Management Inc. purchased a new position in PepsiCo during the 2nd quarter valued at about $2,095,000. Sanctuary Advisors LLC purchased a new position in PepsiCo during the second quarter valued at approximately $48,028,000. Creekside Partners acquired a new position in PepsiCo in the 2nd quarter valued at approximately $588,000. Centennial Bank AR lifted its position in PepsiCo by 1.7% in the 2nd quarter. Centennial Bank AR now owns 5,086 shares of the company’s stock worth $838,000 after buying an additional 83 shares in the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of PepsiCo during the 2nd quarter valued at $141,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

NASDAQ:PEP opened at $171.38 on Wednesday. The firm has a market capitalization of $235.61 billion, a PE ratio of 24.87, a price-to-earnings-growth ratio of 2.93 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The firm has a 50-day moving average price of $173.92 and a 200 day moving average price of $172.17.

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

PepsiCo Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on PEP shares. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. JPMorgan Chase & Co. raised their price target on PepsiCo from $182.00 to $185.00 and gave the stock a “neutral” rating in a research note on Tuesday. Royal Bank of Canada dropped their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a report on Friday, July 12th. Jefferies Financial Group decreased their target price 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. Finally, TD Cowen reduced their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. 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 a consensus rating of “Hold” and an average target price of $185.40.

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.