Bulltick Wealth Management LLC Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Bulltick Wealth Management LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 20.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,299 shares of the company’s stock after selling 8,539 shares during the quarter. PepsiCo accounts for approximately 1.4% of Bulltick Wealth Management LLC’s holdings, making the stock its 27th largest position. Bulltick Wealth Management LLC’s holdings in PepsiCo were worth $5,492,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Valued Wealth Advisors LLC grew its holdings in shares of PepsiCo by 77.5% in 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 grew 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 valued at $30,000 after purchasing an additional 106 shares during the period. Summit Securities Group LLC purchased a new stake in shares of PepsiCo during the 2nd quarter valued at about $30,000. Fortis Group Advisors LLC lifted its stake in shares of PepsiCo by 100.0% in the 4th 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. bought a new stake in PepsiCo during the first quarter valued at approximately $35,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PEP shares. Royal Bank of Canada decreased their price target on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Wells Fargo & Company lowered their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Barclays upped their price target on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Bank of America cut their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Finally, DZ Bank downgraded shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target on the stock. in a report on Friday, July 19th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $185.53.

PepsiCo Trading Down 2.0 %

PEP stock opened at $171.18 on Friday. 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 quick ratio of 0.64 and a current ratio of 0.83. The firm has a fifty day moving average price of $173.51 and a 200 day moving average price of $171.74. The firm has a market cap of $235.13 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. The company had revenue of $22.50 billion during the quarter, compared to analyst estimates 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 quarter last year, the business posted $2.09 earnings per share. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed 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 3.17%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s payout ratio is 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.