Parkside Financial Bank & Trust Reduces Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Parkside Financial Bank & Trust lowered its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.2% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,800 shares of the company’s stock after selling 494 shares during the quarter. Parkside Financial Bank & Trust’s holdings in PepsiCo were worth $2,441,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Valued Wealth Advisors LLC lifted its position in PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares in the last quarter. POM Investment Strategies LLC lifted its position in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of PepsiCo during the 2nd quarter valued at approximately $30,000. Fortis Group Advisors LLC increased its holdings in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after acquiring an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in PepsiCo during the 1st quarter worth approximately $35,000. Institutional investors own 73.07% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PEP. JPMorgan Chase & Co. decreased their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Morgan Stanley reduced their price objective on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Royal Bank of Canada dropped their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. BNP Paribas initiated coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Finally, Jefferies Financial Group dropped their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, PepsiCo presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Trading Down 0.8 %

NASDAQ PEP traded down $1.42 during trading hours on Friday, hitting $177.88. 1,170,011 shares of the company were exchanged, compared to its average volume of 5,443,443. The stock has a market cap of $244.33 billion, a PE ratio of 26.02, a price-to-earnings-growth ratio of 2.98 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41. The stock has a 50-day moving average price of $170.71 and a 200 day moving average price of $171.06. 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 (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. PepsiCo’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.09 EPS. Analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.05%. PepsiCo’s dividend payout ratio is presently 78.66%.

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.