Profund Advisors LLC Reduces Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Profund Advisors LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 111,183 shares of the company’s stock after selling 1,372 shares during the period. PepsiCo makes up 0.7% of Profund Advisors LLC’s holdings, making the stock its 24th biggest holding. Profund Advisors LLC’s holdings in PepsiCo were worth $18,337,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Capital Advisors Ltd. LLC grew its position in PepsiCo by 3.6% in the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock worth $693,000 after acquiring an additional 139 shares during the period. Norden Group LLC increased its position in shares of PepsiCo by 3,345.6% during the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after purchasing an additional 174,171 shares during the last quarter. Marion Wealth Management raised its holdings in PepsiCo by 6.3% in the 1st quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after buying an additional 494 shares during the period. Public Employees Retirement System of Ohio lifted its position in PepsiCo by 1.6% in the fourth quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock valued at $121,486,000 after buying an additional 11,485 shares during the last quarter. Finally, Meyer Handelman Co. increased its position in shares of PepsiCo by 3.9% during the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock valued at $44,412,000 after acquiring an additional 9,465 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

Shares of PEP opened at $171.18 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The firm’s fifty day simple moving average is $173.51 and its 200-day simple moving average is $171.81. The firm 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. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. During the same period in the previous year, the business earned $2.09 EPS. PepsiCo’s revenue for the quarter was up .8% on a year-over-year basis. Equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business 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 of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.17%. PepsiCo’s dividend payout ratio is presently 78.66%.

Analysts Set New Price Targets

PEP has been the topic of several recent analyst reports. Bank of America decreased 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. JPMorgan Chase & Co. dropped their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Wells Fargo & Company decreased their target price on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 target price for the company. in a research report on Friday. Finally, Jefferies Financial Group lowered their price objective on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, PepsiCo presently has a consensus rating of “Hold” and an average target price of $185.53.

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.