Fidelis Capital Partners LLC Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Fidelis Capital Partners LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,230 shares of the company’s stock after selling 453 shares during the period. Fidelis Capital Partners LLC’s holdings in PepsiCo were worth $1,757,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on PEP shares. Wells Fargo & Company reduced their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. TD Cowen decreased their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research note on Friday, July 19th. Finally, Jefferies Financial Group dropped their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $185.53.

PepsiCo Stock Performance

NASDAQ PEP opened at $171.18 on Friday. The stock has a market capitalization of $235.13 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 3.06 and a beta of 0.53. The business’s 50 day moving average is $173.51 and its two-hundred day moving average is $171.81. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. 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 released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.16 by $0.12. The firm had revenue of $22.50 billion during 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%. PepsiCo’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.09 earnings per share. Research analysts expect 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 given a dividend of $1.355 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.17%. PepsiCo’s payout ratio is currently 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.