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

Gallacher Capital Management LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 102,978 shares of the company’s stock after selling 3,563 shares during the quarter. PepsiCo comprises about 8.9% of Gallacher Capital Management LLC’s holdings, making the stock its largest holding. Gallacher Capital Management LLC’s holdings in PepsiCo were worth $16,984,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in PEP. Valued Wealth Advisors LLC increased its holdings in PepsiCo by 77.5% during the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 69 shares during the last quarter. POM Investment Strategies LLC raised its holdings in PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after acquiring an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new position in PepsiCo during the 2nd quarter valued at $30,000. Fortis Group Advisors LLC increased its position in shares of PepsiCo by 100.0% in the 4th 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 last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of PepsiCo in the 1st quarter valued at about $35,000. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Down 0.3 %

PEP opened at $177.34 on Friday. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The stock’s 50 day moving average price is $170.96 and its 200 day moving average price is $171.15. The stock has a market cap of $243.59 billion, a P/E ratio of 25.74, a P/E/G ratio of 2.98 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, topping the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion during the quarter, compared to the consensus estimate 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 prior year, the company posted $2.09 earnings per share. As a group, research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley lowered their price objective on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, July 12th. JPMorgan Chase & Co. reduced their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Barclays boosted their target price on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Jefferies Financial Group reduced 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. Finally, BNP Paribas began coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price objective for the company. 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, PepsiCo has a consensus rating of “Moderate Buy” and a consensus price target 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.