Abbrea Capital LLC Cuts Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Abbrea Capital LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,563 shares of the company’s stock after selling 780 shares during the period. PepsiCo accounts for about 1.2% of Abbrea Capital LLC’s portfolio, making the stock its 21st largest holding. Abbrea Capital LLC’s holdings in PepsiCo were worth $8,999,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PEP. Valued Wealth Advisors LLC boosted its holdings 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 purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC increased its stake in PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of PepsiCo in the 2nd quarter valued at $30,000. Fortis Group Advisors LLC increased its position in shares of PepsiCo by 100.0% during the 4th 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 during the first quarter worth about $35,000. 73.07% of the stock is currently owned by hedge funds and other institutional investors.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $177.25 on Friday. The business has a 50-day simple moving average of $172.11 and a 200-day simple moving average of $171.37. 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 company has a market cap of $243.47 billion, a PE ratio of 25.73, a P/E/G ratio of 3.03 and a beta of 0.53. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced 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 firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.09 earnings per share. On average, equities research analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors 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 yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PEP. Jefferies Financial Group decreased 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. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Wells Fargo & Company decreased 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. Barclays lifted their target price on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, TD Cowen dropped their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” 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.