ProVise Management Group LLC Reduces Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

ProVise Management Group LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 4.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,321 shares of the company’s stock after selling 690 shares during the quarter. ProVise Management Group LLC’s holdings in PepsiCo were worth $2,692,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Flossbach Von Storch AG grew its position in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. PineStone Asset Management Inc. boosted its holdings in PepsiCo by 125.2% in the second quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares during the period. Van ECK Associates Corp raised its holdings in shares of PepsiCo by 429.3% during the first quarter. Van ECK Associates Corp now owns 1,454,793 shares of the company’s stock worth $254,603,000 after purchasing an additional 1,179,922 shares during the period. Confluence Investment Management LLC bought a new position in shares of PepsiCo in the 1st quarter worth about $166,243,000. Finally, Swedbank AB bought a new stake in shares of PepsiCo during the 1st quarter valued at about $148,336,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Down 0.3 %

PepsiCo stock opened at $174.66 on Friday. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The stock has a market capitalization of $240.12 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53. The firm has a 50 day simple moving average of $173.42 and a 200-day simple moving average of $171.70. 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 (NASDAQ:PEP) last issued its quarterly 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 analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the firm earned $2.09 EPS. As a group, equities research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal 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 given a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.10%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PEP. TD Cowen decreased their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Barclays increased their target price on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Jefferies Financial Group reduced their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Bank of America dropped their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo 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.