PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by CCM Investment Advisers LLC

CCM Investment Advisers LLC trimmed its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 12.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 57,436 shares of the company’s stock after selling 7,864 shares during the quarter. CCM Investment Advisers LLC’s holdings in PepsiCo were worth $10,471,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PEP. Gerber Kawasaki Wealth & Investment Management boosted its stake in shares of PepsiCo by 9.1% during the 1st quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,873 shares of the company’s stock worth $341,000 after acquiring an additional 157 shares in the last quarter. KB Financial Partners LLC purchased a new position in PepsiCo in the first quarter valued at about $1,081,000. Mercer Global Advisors Inc. ADV grew its stake in PepsiCo by 2.1% in the first quarter. Mercer Global Advisors Inc. ADV now owns 223,078 shares of the company’s stock valued at $40,667,000 after purchasing an additional 4,507 shares in the last quarter. Pacific Center for Financial Services acquired a new stake in shares of PepsiCo in the first quarter worth about $47,000. Finally, MidWestOne Financial Group Inc. lifted its position in shares of PepsiCo by 8.7% in the first quarter. MidWestOne Financial Group Inc. now owns 14,131 shares of the company’s stock worth $2,576,000 after buying an additional 1,133 shares during the last quarter. 71.40% of the stock is currently owned by institutional investors and hedge funds.

PepsiCo Trading Down 0.4 %

PEP opened at $178.27 on Wednesday. The company has a debt-to-equity ratio of 2.02, a current ratio of 0.84 and a quick ratio of 0.64. PepsiCo, Inc. has a fifty-two week low of $160.98 and a fifty-two week high of $196.88. The firm has a market capitalization of $245.40 billion, a PE ratio of 31.22, a P/E/G ratio of 2.90 and a beta of 0.54. The company’s 50-day moving average is $182.98 and its 200 day moving average is $184.63.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 13th. The company reported $2.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.13. PepsiCo had a net margin of 8.76% and a return on equity of 56.05%. The company had revenue of $22.32 billion for the quarter, compared to analyst estimates of $21.73 billion. During the same quarter in the prior year, the business posted $1.86 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. As a group, research analysts predict that PepsiCo, Inc. will post 7.48 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $1.265 dividend. This represents a $5.06 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date is Thursday, August 31st. PepsiCo’s payout ratio is 88.62%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PEP shares. Evercore ISI upped their price target on PepsiCo from $190.00 to $195.00 in a report on Friday, July 14th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Thursday, September 7th. Wedbush upped their price objective on PepsiCo from $200.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday, July 14th. Royal Bank of Canada increased their price target on PepsiCo from $178.00 to $180.00 in a research note on Friday, July 14th. Finally, Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $210.00 price objective on the stock. in a research note on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $192.00.

PepsiCo Profile

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.