FORA Capital LLC Sells 9,510 Shares of PepsiCo, Inc. $PEP

FORA Capital LLC trimmed its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 15.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,877 shares of the company’s stock after selling 9,510 shares during the quarter. PepsiCo accounts for approximately 0.8% of FORA Capital LLC’s holdings, making the stock its 27th largest position. FORA Capital LLC’s holdings in PepsiCo were worth $6,982,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Nova Wealth Management Inc. bought a new stake in shares of PepsiCo during the 1st quarter valued at about $25,000. Legend Financial Advisors Inc. purchased a new position in shares of PepsiCo in the second quarter worth approximately $29,000. Vermillion & White Wealth Management Group LLC grew its position in PepsiCo by 107.1% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 234 shares of the company’s stock valued at $31,000 after buying an additional 121 shares during the period. Frazier Financial Advisors LLC raised its position in PepsiCo by 85.3% in the second quarter. Frazier Financial Advisors LLC now owns 265 shares of the company’s stock worth $35,000 after acquiring an additional 122 shares during the period. Finally, Binnacle Investments Inc boosted its stake in shares of PepsiCo by 33.2% during the 2nd quarter. Binnacle Investments Inc now owns 285 shares of the company’s stock worth $38,000 after acquiring an additional 71 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Up 1.1%

PEP stock opened at $150.65 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.91 and a quick ratio of 0.72. PepsiCo, Inc. has a 1-year low of $127.60 and a 1-year high of $160.15. The business has a 50 day simple moving average of $147.30 and a two-hundred day simple moving average of $142.29. The company has a market capitalization of $205.99 billion, a price-to-earnings ratio of 28.64, a PEG ratio of 5.20 and a beta of 0.42.

PepsiCo (NASDAQ:PEP) last released its earnings results on Wednesday, October 8th. The company reported $2.29 EPS for the quarter, topping the consensus estimate of $2.26 by $0.03. The firm had revenue of $23.94 billion for the quarter, compared to the consensus estimate of $23.91 billion. PepsiCo had a net margin of 7.82% and a return on equity of 57.58%. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.31 earnings per share. Research analysts anticipate that PepsiCo, Inc. will post 8.3 EPS for the current fiscal year.

PepsiCo Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a dividend of $1.4225 per share. The ex-dividend date is Friday, December 5th. This represents a $5.69 dividend on an annualized basis and a dividend yield of 3.8%. PepsiCo’s dividend payout ratio (DPR) is presently 108.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PEP shares. Bank of America upped their price objective on PepsiCo from $150.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, October 10th. Wells Fargo & Company raised their price objective on PepsiCo from $150.00 to $154.00 and gave the stock a “positive” rating in a research note on Friday, October 10th. Loop Capital set a $164.00 price objective on PepsiCo in a research note on Thursday, October 23rd. DZ Bank upgraded shares of PepsiCo from a “hold” rating to a “buy” rating and set a $167.00 target price on the stock in a research note on Tuesday, October 21st. Finally, Evercore ISI lifted their price target on shares of PepsiCo from $150.00 to $152.00 in a report on Friday, October 10th. Eight analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $158.35.

About PepsiCo

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.