Montag & Caldwell LLC Has $610,000 Stake in PepsiCo, Inc. (NASDAQ:PEP)

Montag & Caldwell LLC trimmed its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,699 shares of the company’s stock after selling 112 shares during the period. Montag & Caldwell LLC’s holdings in PepsiCo were worth $610,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PEP. Valued Wealth Advisors LLC lifted its holdings in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC increased its stake in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the period. Summit Securities Group LLC bought a new position in shares of PepsiCo in the 2nd quarter valued at $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 purchasing an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of PepsiCo in the 1st quarter valued at $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PEP has been the topic of several recent analyst reports. BNP Paribas initiated coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Royal Bank of Canada decreased their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Bank of America reduced their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Finally, Morgan Stanley reduced their price objective on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PepsiCo has an average rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Stock Up 0.1 %

Shares of NASDAQ:PEP opened at $177.36 on Monday. The company has a market capitalization of $243.62 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 3.03 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The business’s 50-day moving average is $172.37 and its 200-day moving average is $171.48. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41.

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, beating 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 the consensus estimate of $22.59 billion. During the same period in the previous year, the business earned $2.09 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Equities research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

PepsiCo Company 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.