Chesapeake Wealth Management Cuts Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Chesapeake Wealth Management decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 4.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,777 shares of the company’s stock after selling 241 shares during the quarter. Chesapeake Wealth Management’s holdings in PepsiCo were worth $953,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PEP. Valued Wealth Advisors LLC raised its stake in shares of PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares in the last quarter. POM Investment Strategies LLC increased its holdings in 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 period. Summit Securities Group LLC acquired a new stake in PepsiCo in the 2nd quarter valued at about $30,000. Fortis Group Advisors LLC grew its position in shares of 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 buying an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of PepsiCo during the first quarter worth approximately $35,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP opened at $171.18 on Friday. The company’s 50 day simple moving average is $173.51 and its 200-day simple moving average is $171.74. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. 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. 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 posted its quarterly earnings data 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 net margin of 10.34% and a return on equity of 57.37%. The company had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. During the same period in the previous year, the business posted $2.09 earnings per share. PepsiCo’s quarterly revenue was up .8% on a year-over-year basis. As a group, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

The business 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 $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.17%. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Bank of America lowered their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Jefferies Financial Group dropped their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company decreased their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. StockNews.com downgraded PepsiCo from a “buy” rating to a “hold” rating in a report on Friday. Finally, TD Cowen lowered their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price 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.