Estabrook Capital Management Trims Position in PepsiCo, Inc. (NASDAQ:PEP)

Estabrook Capital Management decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 8.4% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,965 shares of the company’s stock after selling 1,555 shares during the quarter. Estabrook Capital Management’s holdings in PepsiCo were worth $2,798,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA grew its position in shares of PepsiCo by 7.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 10,147,530 shares of the company’s stock worth $1,673,632,000 after purchasing an additional 700,092 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in PepsiCo by 8.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,403,398 shares of the company’s stock valued at $1,221,089,000 after buying an additional 561,465 shares in the last quarter. Stifel Financial Corp raised its position in shares of PepsiCo by 15.7% during the fourth quarter. Stifel Financial Corp now owns 5,121,600 shares of the company’s stock valued at $869,869,000 after buying an additional 693,873 shares during the last quarter. Sanders Capital LLC boosted its position in shares of PepsiCo by 2.9% during the fourth quarter. Sanders Capital LLC now owns 4,755,895 shares of the company’s stock worth $807,741,000 after acquiring an additional 135,300 shares during the last quarter. Finally, Flossbach Von Storch AG grew its stake in PepsiCo by 67.2% during the first quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock valued at $798,047,000 after acquiring an additional 1,832,385 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on PEP shares. Royal Bank of Canada dropped their price objective 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 assumed coverage on PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. Bank of America decreased their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. TD Cowen cut their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, Barclays increased their price objective on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo currently has a consensus rating of “Hold” and a consensus target price of $185.53.

PepsiCo Price Performance

NASDAQ:PEP opened at $171.18 on Friday. The company has a 50 day moving average price of $173.51 and a 200-day moving average price of $171.81. PepsiCo, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41. The firm has a market cap of $235.13 billion, a price-to-earnings ratio of 24.84, a price-to-earnings-growth ratio of 3.06 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 (NASDAQ:PEP) last issued its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping 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 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 prior year, the firm posted $2.09 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

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

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.