Meridian Wealth Partners LLC Decreases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Meridian Wealth Partners LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,840 shares of the company’s stock after selling 394 shares during the quarter. Meridian Wealth Partners LLC’s holdings in PepsiCo were worth $304,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of PEP. Gilbert & Cook Inc. lifted its stake in shares of PepsiCo by 23.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock worth $1,014,000 after purchasing an additional 1,133 shares during the period. Aveo Capital Partners LLC lifted its stake in shares of PepsiCo by 4.4% during the 4th quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock worth $931,000 after purchasing an additional 229 shares during the period. 9258 Wealth Management LLC lifted its stake in shares of PepsiCo by 56.0% during the 4th quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock worth $1,407,000 after purchasing an additional 2,974 shares during the period. Gryphon Financial Partners LLC lifted its stake in shares of PepsiCo by 81.3% during the 4th quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock worth $1,357,000 after purchasing an additional 3,635 shares during the period. Finally, TrinityPoint Wealth LLC lifted its stake in shares of PepsiCo by 2.5% during the 4th quarter. TrinityPoint Wealth LLC now owns 13,353 shares of the company’s stock worth $2,268,000 after purchasing an additional 332 shares during the period. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.2 %

Shares of NASDAQ PEP opened at $176.87 on Wednesday. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. The company has a market cap of $243.16 billion, a P/E ratio of 25.67, a P/E/G ratio of 3.06 and a beta of 0.53. 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 stock has a fifty day moving average price of $172.97 and a 200 day moving average price of $171.65.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $22.59 billion. PepsiCo had a net margin of 10.34% and a return on equity of 57.37%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same period in the prior year, the company posted $2.09 EPS. Research analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.06%. PepsiCo’s payout ratio is currently 78.66%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Wells Fargo & Company dropped their price objective on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. BNP Paribas began coverage on PepsiCo in a report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective for the company. Bank of America dropped their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Finally, Royal Bank of Canada dropped their price objective on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock currently 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.