Strategy Asset Managers LLC Sells 1,478 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Strategy Asset Managers LLC lowered its position in PepsiCo, Inc. (NASDAQ:PEPGet Rating) by 23.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,700 shares of the company’s stock after selling 1,478 shares during the quarter. Strategy Asset Managers LLC’s holdings in PepsiCo were worth $783,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cordant Inc. bought a new stake in shares of PepsiCo in the 1st quarter worth approximately $27,000. Landmark Wealth Management LLC bought a new position in shares of PepsiCo during the 1st quarter worth approximately $29,000. Strategic Asset Management LLC lifted its position in shares of PepsiCo by 53.3% during the 1st quarter. Strategic Asset Management LLC now owns 276 shares of the company’s stock worth $46,000 after buying an additional 96 shares during the period. Retirement Group LLC lifted its position in shares of PepsiCo by 100.0% during the 1st quarter. Retirement Group LLC now owns 322 shares of the company’s stock worth $54,000 after buying an additional 161 shares during the period. Finally, Lansing Street Advisors bought a new position in shares of PepsiCo during the 1st quarter worth approximately $58,000. Institutional investors own 71.38% of the company’s stock.

PepsiCo Stock Down 0.3 %

NASDAQ PEP opened at $168.44 on Thursday. The stock has a fifty day moving average of $173.37 and a 200-day moving average of $170.46. The stock has a market capitalization of $232.43 billion, a P/E ratio of 25.37, a price-to-earnings-growth ratio of 3.31 and a beta of 0.55. PepsiCo, Inc. has a 52 week low of $149.48 and a 52 week high of $181.07. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.64 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEPGet Rating) last released its earnings results on Tuesday, July 12th. The company reported $1.86 EPS for the quarter, beating the consensus estimate of $1.73 by $0.13. The company had revenue of $20.23 billion during the quarter, compared to analysts’ expectations of $19.51 billion. PepsiCo had a return on equity of 52.01% and a net margin of 11.28%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $1.72 EPS. On average, equities research analysts forecast that PepsiCo, Inc. will post 6.66 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 2nd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.60 annualized dividend and a dividend yield of 2.73%. PepsiCo’s dividend payout ratio (DPR) is currently 69.28%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Wells Fargo & Company cut their target price on PepsiCo from $175.00 to $172.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 21st. JPMorgan Chase & Co. cut their target price on PepsiCo from $186.00 to $185.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Barclays cut their target price on PepsiCo from $187.00 to $183.00 and set an “overweight” rating for the company in a research report on Wednesday, July 6th. Credit Suisse Group raised their price target on PepsiCo from $168.00 to $170.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. Finally, UBS Group dropped their price target on PepsiCo from $190.00 to $182.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. Five investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and an average target price of $182.00.

Insider Buying and Selling

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

About PepsiCo

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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.

See Also

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Institutional Ownership by Quarter for PepsiCo (NASDAQ:PEP)

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