Commonwealth Retirement Investments LLC Sells 3,674 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Commonwealth Retirement Investments LLC decreased its position in PepsiCo, Inc. (NASDAQ:PEP) by 12.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 25,801 shares of the company’s stock after selling 3,674 shares during the quarter. PepsiCo accounts for approximately 1.9% of Commonwealth Retirement Investments LLC’s holdings, making the stock its 17th biggest holding. Commonwealth Retirement Investments LLC’s holdings in PepsiCo were worth $4,255,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in PEP. Capital Advisors Ltd. LLC grew its holdings 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 worth $693,000 after purchasing an additional 139 shares during the last quarter. V Square Quantitative Management LLC increased its position in PepsiCo by 1.1% in the 1st quarter. V Square Quantitative Management LLC now owns 16,400 shares of the company’s stock valued at $2,870,000 after acquiring an additional 180 shares in the last quarter. Norden Group LLC raised its stake in shares of PepsiCo by 3,345.6% in the first quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after acquiring an additional 174,171 shares during the last quarter. Marion Wealth Management lifted its position in shares of 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 in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in shares of PepsiCo by 1.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock valued at $121,486,000 after purchasing an additional 11,485 shares during the last quarter. Institutional investors and hedge funds own 73.07% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Wells Fargo & Company cut their price target 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 price objective on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. TD Cowen dropped their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research report on Friday, July 19th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $177.34 on Friday. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The company has a current ratio of 0.83, a quick ratio of 0.64 and a debt-to-equity ratio of 1.87. The company has a market capitalization of $243.59 billion, a PE ratio of 25.74, a PEG ratio of 2.98 and a beta of 0.53. The stock’s fifty day simple moving average is $170.96 and its 200 day simple moving average is $171.13.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business had revenue of $22.50 billion for the quarter, compared to analysts’ expectations of $22.59 billion. During the same quarter in the previous year, the business posted $2.09 EPS. PepsiCo’s revenue for the quarter was up .8% on a year-over-year basis. On average, research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be issued a dividend of $1.355 per share. 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 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.