Savoir Faire Capital Management L.P. Sells 6,705 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Savoir Faire Capital Management L.P. cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 14.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,357 shares of the company’s stock after selling 6,705 shares during the period. PepsiCo comprises about 2.6% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 14th largest position. Savoir Faire Capital Management L.P.’s holdings in PepsiCo were worth $6,656,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in PEP. Valued Wealth Advisors LLC increased its position in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares during the period. POM Investment Strategies LLC raised its position in PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of PepsiCo in the 2nd quarter worth $30,000. Fortis Group Advisors LLC grew its position in shares of PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of PepsiCo during the first quarter valued at $35,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PEP. TD Cowen lowered their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Jefferies Financial Group cut their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. JPMorgan Chase & Co. lowered their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Bank of America cut their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, PepsiCo currently has an average rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Stock Down 0.1 %

NASDAQ:PEP opened at $177.21 on Tuesday. The company’s 50 day moving average is $172.67 and its two-hundred day moving average is $171.57. The company has a market cap of $243.41 billion, a PE ratio of 25.72, a P/E/G ratio of 3.06 and a beta of 0.53. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41. 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 (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 return on equity of 57.37% and a net margin of 10.34%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. Analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $1.355 dividend. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is currently 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.