Profit Investment Management LLC Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Profit Investment Management LLC lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 6.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,917 shares of the company’s stock after selling 275 shares during the period. Profit Investment Management LLC’s holdings in PepsiCo were worth $651,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. SevenBridge Financial Group LLC lifted its stake in shares of PepsiCo by 77.7% during the first quarter. SevenBridge Financial Group LLC now owns 35,990 shares of the company’s stock worth $6,024,000 after purchasing an additional 15,740 shares in the last quarter. First American Trust FSB lifted its stake in shares of PepsiCo by 9.0% in the first quarter. First American Trust FSB now owns 4,817 shares of the company’s stock worth $806,000 after acquiring an additional 398 shares in the last quarter. Tiedemann Advisors LLC raised its stake in PepsiCo by 2.8% during the first quarter. Tiedemann Advisors LLC now owns 12,383 shares of the company’s stock valued at $2,072,000 after buying an additional 338 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its stake in PepsiCo by 9.3% during the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 119,347 shares of the company’s stock valued at $20,049,000 after buying an additional 10,179 shares in the last quarter. Finally, Osher Van de Voorde Investment Management raised its stake in PepsiCo by 3.1% during the first quarter. Osher Van de Voorde Investment Management now owns 101,725 shares of the company’s stock valued at $17,027,000 after buying an additional 3,065 shares in the last quarter. Hedge funds and other institutional investors own 71.38% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP stock opened at $166.97 on Monday. PepsiCo, Inc. has a 12-month low of $149.48 and a 12-month high of $181.07. The firm has a market capitalization of $230.40 billion, a price-to-earnings ratio of 25.15, a price-to-earnings-growth ratio of 3.27 and a beta of 0.55. The business has a 50 day simple moving average of $173.45 and a 200 day simple moving average of $170.50. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.83 and a quick ratio of 0.64.

PepsiCo (NASDAQ:PEPGet Rating) last issued its quarterly earnings data on Tuesday, July 12th. The company reported $1.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.73 by $0.13. PepsiCo had a return on equity of 52.01% and a net margin of 11.28%. The business had revenue of $20.23 billion during the quarter, compared to analyst estimates of $19.51 billion. During the same period in the prior year, the company posted $1.72 EPS. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that PepsiCo, Inc. will post 6.66 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 2nd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date is Thursday, September 1st. PepsiCo’s dividend payout ratio (DPR) is 69.28%.

Analyst Ratings Changes

Several brokerages have issued reports on PEP. Deutsche Bank Aktiengesellschaft upped their price objective on PepsiCo from $175.00 to $178.00 and gave the company a “hold” rating in a research note on Thursday, July 7th. Wells Fargo & Company cut their price objective on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 21st. Barclays cut their price objective on PepsiCo from $187.00 to $183.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. JPMorgan Chase & Co. cut their price objective on PepsiCo from $186.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 6th. Finally, UBS Group lowered their target price on PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.00.

Insider Buying and Selling

In other PepsiCo news, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $174.83, for a total transaction of $600,191.39. Following the completion of the transaction, the chief executive officer now directly owns 50,577 shares of the company’s stock, valued at approximately $8,842,376.91. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other PepsiCo news, CEO Steven C. Williams sold 1,753 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $171.18, for a total transaction of $300,078.54. Following the completion of the transaction, the chief executive officer now directly owns 70,892 shares of the company’s stock, valued at approximately $12,135,292.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ramkumar Krishnan sold 3,433 shares of the stock in a transaction on Thursday, July 28th. The shares were sold at an average price of $174.83, for a total value of $600,191.39. Following the transaction, the chief executive officer now directly owns 50,577 shares of the company’s stock, valued at $8,842,376.91. The disclosure for this sale can be found here. Corporate insiders own 0.12% of the company’s stock.

PepsiCo Profile

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PepsiCo, Inc manufactures, markets, distributes, and sells 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.

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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