Bright Futures Wealth Management LLC. Sells 115 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Bright Futures Wealth Management LLC. trimmed its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 5.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,897 shares of the company’s stock after selling 115 shares during the quarter. Bright Futures Wealth Management LLC.’s holdings in PepsiCo were worth $338,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Gilbert & Cook Inc. lifted its position in shares of PepsiCo by 23.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock valued at $1,014,000 after acquiring an additional 1,133 shares during the period. Aveo Capital Partners LLC lifted its position in PepsiCo by 4.4% during the fourth quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock worth $931,000 after purchasing an additional 229 shares during the period. 9258 Wealth Management LLC grew its stake in PepsiCo by 56.0% during the fourth quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock worth $1,407,000 after buying an additional 2,974 shares in the last quarter. Gryphon Financial Partners LLC raised its position in shares of PepsiCo by 81.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock valued at $1,357,000 after buying an additional 3,635 shares in the last quarter. Finally, Quotient Wealth Partners LLC bought a new stake in shares of PepsiCo during the 4th quarter worth approximately $1,136,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Up 0.5 %

Shares of PEP opened at $178.19 on Tuesday. The stock’s 50-day moving average price is $171.27 and its two-hundred day moving average price is $171.24. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The company has a market capitalization of $244.76 billion, a PE ratio of 25.86, a PEG ratio of 3.06 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.

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

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given 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 yield of 3.04%. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

Analyst Ratings Changes

Several research firms have weighed in on PEP. Royal Bank of Canada cut their target price on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. TD Cowen dropped their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Wells Fargo & Company lowered their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Bank of America reduced their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $185.53.

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.