Cornerstone Advisors LLC Sells 400 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Cornerstone Advisors LLC reduced its stake in PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,900 shares of the company’s stock after selling 400 shares during the period. Cornerstone Advisors LLC’s holdings in PepsiCo were worth $12,023,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in PEP. Capital Advisors Ltd. LLC increased its position in PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after acquiring an additional 139 shares in the last quarter. V Square Quantitative Management LLC increased its holdings in shares of PepsiCo by 1.1% in the first quarter. V Square Quantitative Management LLC now owns 16,400 shares of the company’s stock valued at $2,870,000 after purchasing an additional 180 shares in the last quarter. Norden Group LLC lifted its holdings in 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 buying an additional 174,171 shares in the last quarter. Marion Wealth Management boosted its holdings in PepsiCo by 6.3% in the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after acquiring an additional 494 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased 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 worth $121,486,000 after purchasing an additional 11,485 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reduced their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Barclays increased their price target on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Wells Fargo & Company reduced their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 10th. Finally, Morgan Stanley decreased their target price on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Stock Performance

Shares of PEP opened at $177.36 on Monday. The firm’s 50 day moving average price is $172.37 and its two-hundred day moving average price is $171.48. 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, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41. The firm has a market cap of $243.62 billion, a P/E ratio of 25.74, a PEG ratio of 3.03 and a beta of 0.53.

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

PepsiCo Dividend Announcement

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

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.