PepsiCo, Inc. (NASDAQ:PEP) is Gallacher Capital Management LLC’s Largest Position

Gallacher Capital Management LLC reduced its holdings in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.3% in the second quarter, according to its most recent filing with the SEC. The fund owned 102,978 shares of the company’s stock after selling 3,563 shares during the period. PepsiCo comprises 8.9% of Gallacher Capital Management LLC’s portfolio, making the stock its biggest position. Gallacher Capital Management LLC’s holdings in PepsiCo were worth $16,984,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Strategy Asset Managers LLC increased its holdings in PepsiCo by 0.9% in the 1st quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock valued at $1,161,000 after purchasing an additional 57 shares during the last quarter. Meixler Investment Management Ltd. raised its holdings in shares of PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock valued at $228,000 after buying an additional 58 shares during the period. Opes Wealth Management LLC boosted its holdings in PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock valued at $453,000 after acquiring an additional 59 shares during the period. Bank of Stockton grew its position in PepsiCo by 2.3% in the 2nd quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after acquiring an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC increased its stake in PepsiCo by 0.7% during the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock worth $1,481,000 after purchasing an additional 60 shares during the period. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PEP shares. JPMorgan Chase & Co. cut their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Jefferies Financial Group cut their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Bank of America lowered their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Finally, DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo has a consensus rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Price Performance

PepsiCo stock opened at $177.34 on Friday. The business has a fifty day moving average of $170.96 and a two-hundred day moving average of $171.15. 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 $243.59 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 2.98 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 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion for the quarter, compared to analyst estimates of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.09 EPS. As a group, analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.06%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

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.