PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Beck Bode LLC

Beck Bode LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 20.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,030 shares of the company’s stock after selling 2,533 shares during the quarter. Beck Bode LLC’s holdings in PepsiCo were worth $1,654,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Strategy Asset Managers LLC increased its position in shares of PepsiCo by 0.9% during the first quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock worth $1,161,000 after purchasing an additional 57 shares in the last quarter. Meixler Investment Management Ltd. grew its stake in PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after acquiring an additional 58 shares during the last quarter. Opes Wealth Management LLC grew its holdings in PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after buying an additional 59 shares during the last quarter. Bank of Stockton raised its stake in PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares during the last quarter. Finally, Oxbow Advisors LLC lifted its stake in shares of PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after buying an additional 60 shares during the period. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on PEP shares. Morgan Stanley cut their price target on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company cut their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a report on Friday, July 19th. Royal Bank of Canada reduced their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, BNP Paribas started coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective for the company. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Trading Down 0.2 %

Shares of NASDAQ:PEP opened at $176.87 on Wednesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The company has a 50-day simple moving average of $172.97 and a 200 day simple moving average of $171.65. The company has a market capitalization of $243.16 billion, a P/E ratio of 25.67, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results 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 business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the prior year, the business posted $2.09 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Sell-side analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced 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. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s dividend payout ratio is presently 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.