Great Lakes Advisors LLC Decreases Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Great Lakes Advisors LLC cut its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 2.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 502,583 shares of the company’s stock after selling 10,591 shares during the period. Great Lakes Advisors LLC’s holdings in PepsiCo were worth $82,891,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Valued Wealth Advisors LLC grew its position in PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares during the last quarter. POM Investment Strategies LLC boosted its position in PepsiCo by 141.3% in the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after buying an additional 106 shares during the period. Summit Securities Group LLC bought a new stake in shares of PepsiCo during the second quarter valued at approximately $30,000. Fortis Group Advisors LLC grew its stake in 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 in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in PepsiCo during the 1st quarter worth $35,000. Institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on PEP. Bank of America reduced their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Royal Bank of Canada lowered their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research note on Friday, July 12th. TD Cowen reduced 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. Wells Fargo & Company dropped 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. Finally, BNP Paribas started coverage on PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Stock Performance

Shares of PepsiCo stock traded down $0.60 during trading on Friday, hitting $177.34. 6,395,276 shares of the company’s stock were exchanged, compared to its average volume of 5,471,998. The stock has a market capitalization of $243.59 billion, a price-to-earnings ratio of 25.74, a PEG ratio of 2.98 and a beta of 0.53. The business has a 50-day simple moving average of $170.96 and a 200-day simple moving average of $171.13. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83.

PepsiCo (NASDAQ:PEP) last issued its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping analysts’ consensus estimates of $2.16 by $0.12. The firm had revenue of $22.50 billion for 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 was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.09 earnings per share. On average, research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.06%. PepsiCo’s dividend payout ratio is presently 78.66%.

PepsiCo Company 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.