Core Alternative Capital Sells 6,276 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Core Alternative Capital reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 10.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 52,277 shares of the company’s stock after selling 6,276 shares during the quarter. PepsiCo comprises approximately 1.7% of Core Alternative Capital’s holdings, making the stock its 15th largest holding. Core Alternative Capital’s holdings in PepsiCo were worth $8,622,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PEP. Valued Wealth Advisors LLC raised its position in PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 69 shares during the period. POM Investment Strategies LLC increased its stake in PepsiCo by 141.3% in the second 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 bought a new stake in shares of PepsiCo during the second quarter worth $30,000. Fortis Group Advisors LLC grew its holdings in shares of PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in PepsiCo in the 1st quarter worth about $35,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Price Performance

NASDAQ PEP opened at $170.00 on Monday. The firm’s fifty day simple moving average is $173.77 and its two-hundred day simple moving average is $172.08. The firm has a market capitalization of $233.51 billion, a P/E ratio of 24.67, a P/E/G ratio of 2.93 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, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm had revenue of $22.50 billion for 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. The firm’s revenue for the quarter was up .8% on a year-over-year basis. Analysts forecast that PepsiCo, Inc. will post 8.14 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be issued a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.19%. PepsiCo’s dividend payout ratio is currently 78.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Barclays upped their target price on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Wells Fargo & Company dropped their price objective 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. JPMorgan Chase & Co. lowered their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Morgan Stanley downgraded PepsiCo from an “overweight” rating to an “equal weight” rating and set a $185.00 price objective for the company. in a report on Friday, September 20th. Finally, DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a report on Friday, July 19th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average 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.