Parallel Advisors LLC Sells 1,053 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Parallel Advisors LLC reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,887 shares of the company’s stock after selling 1,053 shares during the period. Parallel Advisors LLC’s holdings in PepsiCo were worth $7,073,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PEP. Valued Wealth Advisors LLC raised its position in 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 in the last quarter. POM Investment Strategies LLC increased its stake in shares of 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 purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 2nd quarter valued at about $30,000. Fortis Group Advisors LLC grew its holdings in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new position in PepsiCo during the first quarter worth approximately $35,000. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PEP shares. Barclays lifted their target price on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Wells Fargo & Company decreased their price objective on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 10th. Royal Bank of Canada reduced their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. BNP Paribas initiated coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Finally, JPMorgan Chase & Co. reduced their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report 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 company. According to data from MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Price Performance

Shares of NASDAQ PEP opened at $177.36 on Friday. The business has a fifty day moving average price of $172.37 and a two-hundred day moving average price of $171.43. The stock has a market capitalization of $243.62 billion, a PE 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. PepsiCo, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 11th. The company reported $2.28 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 business had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. PepsiCo’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities 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. Shareholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is presently 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.