Summit Financial Strategies Inc. Has $248,000 Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Summit Financial Strategies Inc. cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 26.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,503 shares of the company’s stock after selling 554 shares during the period. Summit Financial Strategies Inc.’s holdings in PepsiCo were worth $248,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Valued Wealth Advisors LLC boosted its holdings in PepsiCo by 77.5% in the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares in the last quarter. Fortis Group Advisors LLC boosted its position in PepsiCo by 100.0% during the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after purchasing an additional 97 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in shares of PepsiCo in the first quarter valued at approximately $35,000. Naples Money Management LLC acquired a new stake in shares of PepsiCo in the fourth quarter worth $36,000. Finally, Criterion Capital Advisors LLC bought a new stake in shares of PepsiCo during the 4th quarter worth $39,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Price Performance

PEP traded up $0.10 during midday trading on Friday, reaching $172.62. 4,614,804 shares of the company’s stock were exchanged, compared to its average volume of 5,307,452. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41. The firm has a market capitalization of $237.11 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 3.00 and a beta of 0.52. The business has a 50-day simple moving average of $168.09 and a two-hundred day simple moving average of $170.52. 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 (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating the consensus estimate 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 in the previous year, the firm earned $2.09 EPS. PepsiCo’s quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date is Friday, September 6th. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

Analysts Set New Price Targets

A number of research analysts have weighed in on PEP shares. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Monday, August 12th. Barclays lifted their price target on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. TD Cowen lowered their price objective on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Wells Fargo & Company cut their target price on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Jefferies Financial Group decreased their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.