Stock Yards Bank & Trust Co. Sells 10,700 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Stock Yards Bank & Trust Co. lowered its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 7.6% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 130,837 shares of the company’s stock after selling 10,700 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in PepsiCo were worth $21,579,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PEP. Valued Wealth Advisors LLC lifted its position in shares of PepsiCo by 77.5% in the 1st 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 boosted its holdings 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 buying an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of PepsiCo in the 2nd quarter valued at $30,000. Fortis Group Advisors LLC lifted its position 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 acquiring an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in PepsiCo during the first quarter worth $35,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. TD Cowen dropped their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. BNP Paribas started coverage on PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective on the stock. Morgan Stanley cut their target price 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. Bank of America cut their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, July 8th. Finally, DZ Bank downgraded 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. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Trading Down 0.1 %

NASDAQ:PEP opened at $177.21 on Tuesday. 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 firm’s 50 day moving average is $172.67 and its 200 day moving average is $171.57. The stock has a market capitalization of $243.41 billion, a PE ratio of 25.72, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The company’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.09 earnings per share. Sell-side analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

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