Chatham Capital Group Inc. Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Chatham Capital Group Inc. trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,679 shares of the company’s stock after selling 300 shares during the quarter. Chatham Capital Group Inc.’s holdings in PepsiCo were worth $3,969,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PEP. Sherbrooke Park Advisers LLC purchased a new position in PepsiCo during the 3rd quarter valued at $656,000. Gotham Asset Management LLC increased its position in PepsiCo by 85.0% during the 3rd quarter. Gotham Asset Management LLC now owns 32,982 shares of the company’s stock valued at $5,588,000 after purchasing an additional 15,156 shares during the period. SRS Capital Advisors Inc. boosted its holdings in shares of PepsiCo by 22.7% during the 3rd quarter. SRS Capital Advisors Inc. now owns 4,044 shares of the company’s stock valued at $685,000 after buying an additional 748 shares in the last quarter. Insigneo Advisory Services LLC boosted its holdings in shares of PepsiCo by 3.7% during the 3rd quarter. Insigneo Advisory Services LLC now owns 10,197 shares of the company’s stock valued at $1,728,000 after buying an additional 367 shares in the last quarter. Finally, Fairhaven Wealth Management LLC boosted its holdings in shares of PepsiCo by 1.0% during the 3rd quarter. Fairhaven Wealth Management LLC now owns 21,575 shares of the company’s stock valued at $3,656,000 after buying an additional 206 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PEP shares. Wedbush restated an “outperform” rating and set a $195.00 target price on shares of PepsiCo in a report on Tuesday, April 23rd. Barclays dropped their price target on shares of PepsiCo from $185.00 to $180.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 12th. Morgan Stanley upgraded shares of PepsiCo from an “equal weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a research note on Monday, March 18th. Jefferies Financial Group upped their price target on shares of PepsiCo from $209.00 to $211.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Finally, BNP Paribas began coverage on shares of PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, PepsiCo presently has an average rating of “Hold” and a consensus price target of $186.38.

Insider Activity

In related news, CEO Ramkumar Krishnan sold 5,620 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.00, for a total value of $1,000,360.00. Following the completion of the sale, the chief executive officer now directly owns 53,953 shares of the company’s stock, valued at approximately $9,603,634. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

PepsiCo Price Performance

NASDAQ PEP opened at $164.93 on Monday. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $192.38. The firm has a market capitalization of $226.74 billion, a P/E ratio of 24.80, a PEG ratio of 2.71 and a beta of 0.52. The company has a quick ratio of 0.68, a current ratio of 0.86 and a debt-to-equity ratio of 1.96. The company has a 50-day moving average price of $173.37 and a 200-day moving average price of $170.30.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Tuesday, April 23rd. The company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.52 by $0.09. PepsiCo had a net margin of 10.00% and a return on equity of 57.37%. The firm had revenue of $18.25 billion during the quarter, compared to analyst estimates of $18.08 billion. During the same quarter in the prior year, the firm earned $1.50 EPS. The business’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities research analysts anticipate that PepsiCo, Inc. will post 8.16 earnings per share for the current year.

PepsiCo Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 7th were given a dividend of $1.355 per share. The ex-dividend date was Friday, June 7th. This represents a $5.42 annualized dividend and a dividend yield of 3.29%. This is a positive change from PepsiCo’s previous quarterly dividend of $1.27. PepsiCo’s dividend payout ratio is presently 81.50%.

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.