PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Connors Investor Services Inc.

Connors Investor Services Inc. trimmed its position in PepsiCo, Inc. (NASDAQ:PEP) by 5.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,411 shares of the company’s stock after selling 3,327 shares during the quarter. Connors Investor Services Inc.’s holdings in PepsiCo were worth $10,293,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PEP. Perennial Investment Advisors LLC lifted its holdings in PepsiCo by 2.7% during the 2nd quarter. Perennial Investment Advisors LLC now owns 10,080 shares of the company’s stock worth $1,663,000 after buying an additional 265 shares during the last quarter. Alpha Family Trust boosted its holdings in PepsiCo by 22.5% in the second quarter. Alpha Family Trust now owns 8,950 shares of the company’s stock valued at $1,476,000 after purchasing an additional 1,645 shares in the last quarter. Clearstead Trust LLC increased its stake in PepsiCo by 22.9% in the second quarter. Clearstead Trust LLC now owns 7,631 shares of the company’s stock valued at $1,259,000 after purchasing an additional 1,423 shares during the last quarter. Sargent Investment Group LLC lifted its position in shares of PepsiCo by 2.6% during the 2nd quarter. Sargent Investment Group LLC now owns 5,605 shares of the company’s stock worth $924,000 after buying an additional 141 shares during the last quarter. Finally, DHK Financial Advisors Inc. purchased a new position in shares of PepsiCo in the 2nd quarter valued at $231,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

PepsiCo Stock Down 0.1 %

PEP stock opened at $177.21 on Tuesday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The company’s 50 day simple moving average is $172.67 and its 200-day simple moving average is $171.57. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The firm has a market capitalization of $243.41 billion, a PE ratio of 25.72, a P/E/G ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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 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 analyst estimates of $22.59 billion. During the same quarter last year, the company earned $2.09 earnings per share. The business’s revenue for the quarter was up .8% compared to the same quarter last year. Equities analysts expect that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed 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 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 78.66%.

Analysts Set New Price Targets

A number of analysts have recently commented on PEP shares. Bank of America cut their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. TD Cowen lowered their target price 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. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada dropped their price objective on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. Finally, Jefferies Financial Group decreased their target price on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, PepsiCo presently has a consensus rating of “Moderate Buy” and an average target price of $185.53.

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.