Smithbridge Asset Management Inc. DE Sells 2,782 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Smithbridge Asset Management Inc. DE lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 11.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 22,575 shares of the company’s stock after selling 2,782 shares during the quarter. Smithbridge Asset Management Inc. DE’s holdings in PepsiCo were worth $3,723,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions 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. Fortis Group Advisors LLC boosted its stake 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 purchasing an additional 97 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in shares of PepsiCo in the first quarter worth approximately $35,000. Naples Money Management LLC purchased a new stake in shares of PepsiCo during the fourth quarter valued at approximately $36,000. Finally, Criterion Capital Advisors LLC purchased a new position in PepsiCo in the 4th quarter worth approximately $39,000. 73.07% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on PEP. Morgan Stanley cut their target price on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. JPMorgan Chase & Co. reduced their price target 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. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Monday, August 12th. Finally, Barclays lifted their price objective on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Stock Performance

PepsiCo stock traded up $0.10 during midday trading on Friday, hitting $172.62. The stock had a trading volume of 4,614,804 shares, compared to its average volume of 5,307,452. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The company has a market capitalization of $237.11 billion, a PE ratio of 25.05, a P/E/G ratio of 3.00 and a beta of 0.52. The firm’s fifty day moving average is $168.09 and its two-hundred day moving average is $170.52. 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 announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion for 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 was up .8% on a year-over-year basis. During the same period last year, the firm earned $2.09 EPS. On average, research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The firm 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 dividend of $1.355 per share. This represents a $5.42 annualized dividend and a dividend yield of 3.14%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio is currently 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.