Van Cleef Asset Management Inc Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Van Cleef Asset Management Inc reduced its position in PepsiCo, Inc. (NASDAQ:PEP) by 1.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,440 shares of the company’s stock after selling 1,034 shares during the quarter. PepsiCo comprises about 1.7% of Van Cleef Asset Management Inc’s investment portfolio, making the stock its 16th biggest position. Van Cleef Asset Management Inc’s holdings in PepsiCo were worth $13,927,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PEP. Capital Advisors Ltd. LLC increased its holdings in PepsiCo by 3.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 3,961 shares of the company’s stock valued at $693,000 after purchasing an additional 139 shares in the last quarter. V Square Quantitative Management LLC raised its holdings in shares of PepsiCo by 1.1% during the 1st quarter. V Square Quantitative Management LLC now owns 16,400 shares of the company’s stock valued at $2,870,000 after buying an additional 180 shares during the period. Norden Group LLC boosted its holdings in PepsiCo by 3,345.6% in the 1st quarter. Norden Group LLC now owns 179,377 shares of the company’s stock worth $31,391,000 after acquiring an additional 174,171 shares during the period. Marion Wealth Management grew its position in PepsiCo by 6.3% in the first quarter. Marion Wealth Management now owns 8,382 shares of the company’s stock valued at $1,467,000 after acquiring an additional 494 shares in the last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in shares of PepsiCo by 1.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 715,296 shares of the company’s stock worth $121,486,000 after purchasing an additional 11,485 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PEP. Wells Fargo & Company dropped their price target on shares of PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research note on Friday, July 19th. Morgan Stanley cut their target price on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. BNP Paribas initiated coverage on shares of PepsiCo in a research report on Monday, June 24th. They set a “neutral” rating and a $174.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PepsiCo presently has a consensus rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Trading Down 0.2 %

NASDAQ PEP opened at $177.81 on Wednesday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The company has a 50-day simple moving average of $171.55 and a 200-day simple moving average of $171.29. 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 $244.23 billion, a PE ratio of 25.81, a price-to-earnings-growth ratio of 3.06 and a beta of 0.53.

PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (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 during the quarter, compared to analyst estimates of $22.59 billion. During the same quarter in the previous year, the firm posted $2.09 EPS. The business’s revenue for the quarter was up .8% compared to the same quarter last year. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be paid a dividend of $1.355 per share. This represents a $5.42 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date is Friday, September 6th. PepsiCo’s payout ratio is 78.66%.

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.