PepsiCo, Inc. (NASDAQ:PEP) Position Reduced by Wealthspire Advisors LLC

Wealthspire Advisors LLC lowered its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,510 shares of the company’s stock after selling 146 shares during the quarter. Wealthspire Advisors LLC’s holdings in PepsiCo were worth $5,032,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Leelyn Smith LLC boosted its position in shares of PepsiCo by 1.0% in the second quarter. Leelyn Smith LLC now owns 15,936 shares of the company’s stock worth $2,628,000 after buying an additional 156 shares during the period. Thoroughbred Financial Services LLC boosted its position in PepsiCo by 7.2% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 24,034 shares of the company’s stock worth $3,963,000 after acquiring an additional 1,622 shares during the period. Mcintyre Freedman & Flynn Investment Advisers Inc. grew its stake in PepsiCo by 26.1% during the 2nd quarter. Mcintyre Freedman & Flynn Investment Advisers Inc. now owns 17,134 shares of the company’s stock valued at $2,826,000 after acquiring an additional 3,550 shares in the last quarter. SYM FINANCIAL Corp increased its holdings in shares of PepsiCo by 36.7% in the 2nd quarter. SYM FINANCIAL Corp now owns 3,128 shares of the company’s stock valued at $516,000 after purchasing an additional 839 shares during the period. Finally, Hardin Capital Partners LLC purchased a new stake in shares of PepsiCo in the second quarter worth approximately $607,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $177.36 on Friday. The firm has a 50 day simple moving average of $172.37 and a 200 day simple moving average of $171.43. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. 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 firm has a market cap of $243.62 billion, a P/E ratio of 25.74, a P/E/G ratio of 3.03 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 EPS. Sell-side analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

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 paid a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. PepsiCo’s payout ratio is 78.66%.

Analyst Ratings Changes

Several research firms have weighed in 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 price objective on the stock. TD Cowen cut their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Bank of America lowered their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a report on Friday, July 19th. Finally, Morgan Stanley dropped 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. 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.com, the company has an average rating of “Moderate Buy” and a consensus target price of $185.53.

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.