Wealth Alliance Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Wealth Alliance lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 1.8% during the 2nd quarter, Holdings Channel reports. The firm owned 18,898 shares of the company’s stock after selling 347 shares during the quarter. Wealth Alliance’s holdings in PepsiCo were worth $3,117,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Capital Advisors Ltd. LLC lifted its stake in shares of PepsiCo by 3.6% during the first quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after buying an additional 139 shares during the period. Norden Group LLC lifted its stake in shares of PepsiCo by 3,345.6% during the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock valued at $31,391,000 after buying an additional 174,171 shares during the period. Marion Wealth Management increased its position in PepsiCo by 6.3% during the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock worth $1,467,000 after purchasing an additional 494 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in PepsiCo by 1.6% during 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 last quarter. Finally, Meyer Handelman Co. increased its position in PepsiCo by 3.9% during the first quarter. Meyer Handelman Co. now owns 253,769 shares of the company’s stock worth $44,412,000 after purchasing an additional 9,465 shares during the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.2 %

NASDAQ PEP opened at $176.87 on Wednesday. The company’s fifty day moving average price is $172.97 and its two-hundred day moving average price is $171.65. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The company has a market capitalization of $243.16 billion, a price-to-earnings ratio of 25.67, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) 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 company had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same period last year, the firm posted $2.09 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given 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 3.06%. PepsiCo’s payout ratio is currently 78.66%.

Analyst Upgrades and Downgrades

PEP has been the subject of several research analyst reports. BNP Paribas initiated coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. JPMorgan Chase & Co. dropped their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Bank of America dropped their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, July 8th. TD Cowen dropped their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Barclays increased their price objective on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.