Black Diamond Financial LLC Trims Stake in PepsiCo, Inc. (NASDAQ:PEP)

Black Diamond Financial LLC cut its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 1.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,385 shares of the company’s stock after selling 73 shares during the period. Black Diamond Financial LLC’s holdings in PepsiCo were worth $723,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Strategy Asset Managers LLC raised its position in shares of PepsiCo by 0.9% in the first quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock valued at $1,161,000 after buying an additional 57 shares during the last quarter. Meixler Investment Management Ltd. lifted its stake in PepsiCo by 4.4% in the 2nd quarter. Meixler Investment Management Ltd. now owns 1,383 shares of the company’s stock worth $228,000 after purchasing an additional 58 shares in the last quarter. Opes Wealth Management LLC boosted its holdings in shares of PepsiCo by 2.2% during the 2nd quarter. Opes Wealth Management LLC now owns 2,748 shares of the company’s stock worth $453,000 after purchasing an additional 59 shares during the last quarter. Bank of Stockton grew its position in shares of PepsiCo by 2.3% in the second quarter. Bank of Stockton now owns 2,716 shares of the company’s stock valued at $448,000 after purchasing an additional 60 shares in the last quarter. Finally, Oxbow Advisors LLC increased its holdings in shares of PepsiCo by 0.7% in the second quarter. Oxbow Advisors LLC now owns 8,982 shares of the company’s stock valued at $1,481,000 after purchasing an additional 60 shares during the last quarter. 73.07% of the stock is currently owned by institutional investors.

PepsiCo Price Performance

Shares of PEP opened at $177.36 on Monday. 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, Inc. has a fifty-two week low of $155.83 and a fifty-two week high of $183.41. The company has a market cap of $243.62 billion, a P/E ratio of 25.74, a PEG ratio of 3.03 and a beta of 0.53. The firm’s 50 day moving average price is $172.37 and its 200 day moving average price is $171.48.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (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 analysts’ expectations of $22.59 billion. During the same period last year, the firm earned $2.09 earnings per share. The company’s revenue for the quarter was up .8% compared to the same quarter last year. On average, research analysts forecast that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal 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 issued a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 annualized dividend and a yield of 3.06%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Analyst Ratings Changes

Several brokerages have issued reports on PEP. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. BNP Paribas assumed 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. DZ Bank lowered shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a report on Friday, July 19th. Jefferies Financial Group cut their price target on shares of PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Finally, Barclays upped their price objective on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, July 19th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company 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.