Los Angeles Capital Management LLC Sells 59,607 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Los Angeles Capital Management LLC lessened its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 494,304 shares of the company’s stock after selling 59,607 shares during the quarter. Los Angeles Capital Management LLC’s holdings in PepsiCo were worth $81,526,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Valued Wealth Advisors LLC lifted its stake in shares of PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares during the period. POM Investment Strategies LLC lifted its stake in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC acquired a new position in shares of PepsiCo during the 2nd quarter worth about $30,000. Fortis Group Advisors LLC increased its stake in shares of PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after acquiring an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of PepsiCo in the 1st quarter valued at approximately $35,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PEP. BNP Paribas started coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 target price for the company. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Jefferies Financial Group lowered their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Morgan Stanley dropped their price target on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Finally, Bank of America lowered their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Stock Down 0.3 %

Shares of NASDAQ PEP traded down $0.60 during mid-day trading on Friday, hitting $177.34. The company had a trading volume of 6,395,276 shares, compared to its average volume of 5,471,998. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The company has a market capitalization of $243.59 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.98 and a beta of 0.53. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The firm has a 50-day simple moving average of $170.96 and a two-hundred day simple moving average of $171.13.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter in the prior year, the business posted $2.09 EPS. The business’s revenue was up .8% compared to the same quarter last year. On average, equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. PepsiCo’s dividend payout ratio is presently 78.66%.

PepsiCo Profile

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.