PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by LGT Group Foundation

LGT Group Foundation cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 63.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 82,309 shares of the company’s stock after selling 140,703 shares during the period. LGT Group Foundation’s holdings in PepsiCo were worth $13,575,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Valued Wealth Advisors LLC increased its stake in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares during the period. POM Investment Strategies LLC lifted its holdings in shares of 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 acquired a new position in PepsiCo during the second quarter worth $30,000. Fortis Group Advisors LLC boosted 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 in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of PepsiCo during the 1st quarter worth $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Trading Up 0.3 %

Shares of PEP stock traded up $0.47 during trading hours on Monday, hitting $177.81. 362,896 shares of the company were exchanged, compared to its average volume of 5,444,279. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The firm has a fifty day moving average of $170.96 and a 200 day moving average of $171.17. The firm has a market cap of $244.23 billion, a PE ratio of 25.74, a PEG ratio of 3.06 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

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

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be issued a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.05%. The ex-dividend date of this dividend is Friday, September 6th. PepsiCo’s payout ratio is currently 78.66%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PEP. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. BNP Paribas started coverage on PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target for the company. Bank of America decreased their price objective on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Wells Fargo & Company cut their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada dropped their price objective 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. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $185.53.

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.