TD Capital Management LLC Cuts Holdings in PepsiCo, Inc. (NASDAQ:PEP)

TD Capital Management LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.4% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,256 shares of the company’s stock after selling 72 shares during the period. TD Capital Management LLC’s holdings in PepsiCo were worth $207,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PEP. Norges Bank bought a new position in PepsiCo during the fourth quarter valued at about $2,686,139,000. Franklin Resources Inc. grew its position in shares of PepsiCo by 17.7% during the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock valued at $1,520,909,000 after acquiring an additional 1,345,065 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of PepsiCo by 15.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after purchasing an additional 1,105,127 shares during the period. Dimensional Fund Advisors LP lifted its stake in PepsiCo by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,644,059 shares of the company’s stock valued at $1,128,413,000 after purchasing an additional 375,963 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in 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 purchasing an additional 693,873 shares during the period. Institutional investors own 73.07% of the company’s stock.

PepsiCo Price Performance

NASDAQ:PEP opened at $179.30 on Friday. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The stock has a fifty day moving average of $170.71 and a 200 day moving average of $171.06. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The firm has a market capitalization of $246.28 billion, a price-to-earnings ratio of 26.02, a P/E/G ratio of 2.98 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The firm 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 revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company posted $2.09 EPS. On average, research analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a $1.355 dividend. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

Analysts Set New Price Targets

A number of brokerages have recently commented on PEP. TD Cowen dropped their price target on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. 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 report on Tuesday, July 9th. Bank of America lowered their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lowered 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. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, PepsiCo currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo 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.