PepsiCo, Inc. (NASDAQ:PEP) Position Trimmed by Prio Wealth Limited Partnership

Prio Wealth Limited Partnership reduced its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 25.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 80,567 shares of the company’s stock after selling 28,150 shares during the quarter. Prio Wealth Limited Partnership’s holdings in PepsiCo were worth $13,288,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of PEP. Heritage Wealth Management Inc. acquired a new stake in shares of PepsiCo during the 2nd quarter worth approximately $2,095,000. Sanctuary Advisors LLC bought a new stake in PepsiCo in the second quarter valued at $48,028,000. Creekside Partners acquired a new position in shares of PepsiCo during the second quarter valued at $588,000. Centennial Bank AR grew its position in shares of PepsiCo by 1.7% during the second quarter. Centennial Bank AR now owns 5,086 shares of the company’s stock worth $838,000 after acquiring an additional 83 shares during the last quarter. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of PepsiCo in the 2nd quarter worth about $141,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on PEP. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research report on Friday, July 19th. Wells Fargo & Company decreased their price objective 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 cut their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research note on Friday, September 20th. Finally, Bank of America cut their price objective on shares of PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, PepsiCo currently has a consensus rating of “Hold” and an average target price of $185.40.

PepsiCo Stock Up 0.8 %

NASDAQ PEP opened at $171.38 on Wednesday. The company has a market capitalization of $235.61 billion, a P/E ratio of 24.87, a PEG ratio of 2.93 and a beta of 0.53. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The company’s 50 day simple moving average is $173.92 and its 200 day simple moving average is $172.17.

PepsiCo (NASDAQ:PEP) last announced 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. The company had revenue of $22.50 billion during the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.09 EPS. Equities research analysts expect that PepsiCo, Inc. will post 8.14 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 6th were paid a $1.355 dividend. The ex-dividend date was Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.16%. PepsiCo’s dividend 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.