Ballentine Partners LLC Lowers Stake in PepsiCo, Inc. (NASDAQ:PEP)

Ballentine Partners LLC decreased its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 26.1% in the second quarter, HoldingsChannel.com reports. The firm owned 24,999 shares of the company’s stock after selling 8,827 shares during the quarter. Ballentine Partners LLC’s holdings in PepsiCo were worth $4,123,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Valued Wealth Advisors LLC grew its stake 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 acquiring an additional 69 shares during the period. POM Investment Strategies LLC increased its stake in shares of 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 purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC acquired a new position in shares of PepsiCo during the 2nd quarter worth about $30,000. Fortis Group Advisors LLC lifted its stake in PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in PepsiCo during the 1st quarter worth approximately $35,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Trading Down 0.3 %

NASDAQ:PEP traded down $0.60 on Friday, reaching $177.34. The company’s stock had a trading volume of 6,395,276 shares, compared to its average volume of 5,471,998. The firm has a market cap of $243.59 billion, a price-to-earnings ratio of 25.74, a price-to-earnings-growth ratio of 2.98 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, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The stock has a 50 day moving average price of $170.96 and a 200 day moving average price of $171.15.

PepsiCo (NASDAQ:PEP) last posted its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating 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 analysts’ expectations of $22.59 billion. During the same quarter in the prior year, the company posted $2.09 earnings per share. PepsiCo’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Announces Dividend

The business also recently announced 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. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.06%. PepsiCo’s dividend payout ratio (DPR) is presently 78.66%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PEP shares. Jefferies Financial Group lowered their price target on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price for the company. in a research report on Friday, July 19th. Morgan Stanley lowered their price target on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. BNP Paribas started coverage on shares of PepsiCo in a report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective for the company. Finally, TD Cowen lowered their target price on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, PepsiCo has an average 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.