Argent Capital Management LLC Decreases Stake in PepsiCo, Inc. (NASDAQ:PEP)

Argent Capital Management LLC lessened its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,130 shares of the company’s stock after selling 1,676 shares during the period. Argent Capital Management LLC’s holdings in PepsiCo were worth $23,936,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LRI Investments LLC boosted its holdings in shares of PepsiCo by 172.3% in the second quarter. LRI Investments LLC now owns 7,834 shares of the company’s stock worth $1,292,000 after buying an additional 4,957 shares during the last quarter. West Oak Capital LLC grew its position in shares of PepsiCo by 1.7% during the 2nd quarter. West Oak Capital LLC now owns 11,849 shares of the company’s stock valued at $1,954,000 after acquiring an additional 195 shares during the period. Processus Wealth & Capital Management LLC increased its stake in shares of PepsiCo by 2.1% in the 2nd quarter. Processus Wealth & Capital Management LLC now owns 4,920 shares of the company’s stock worth $811,000 after purchasing an additional 99 shares in the last quarter. Van Lanschot Kempen Investment Management N.V. lifted its position in PepsiCo by 1.7% during the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 87,258 shares of the company’s stock valued at $14,391,000 after purchasing an additional 1,430 shares in the last quarter. Finally, Everhart Financial Group Inc. grew its holdings in PepsiCo by 17.9% during the second quarter. Everhart Financial Group Inc. now owns 7,615 shares of the company’s stock valued at $1,256,000 after purchasing an additional 1,154 shares during the period. 73.07% of the stock is owned by institutional investors.

PepsiCo Price Performance

Shares of PEP stock traded up $0.13 during trading hours on Friday, reaching $175.87. The company had a trading volume of 5,283,617 shares, compared to its average volume of 5,466,141. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month high of $183.41. 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 market capitalization of $241.57 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 2.98 and a beta of 0.52. The stock has a fifty day moving average of $169.18 and a 200-day moving average of $170.69.

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 prior year, the company posted $2.09 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, equities analysts anticipate 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. Investors of record on Friday, September 6th will be paid a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.08%. PepsiCo’s payout ratio is 78.66%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PEP shares. JPMorgan Chase & Co. cut their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Royal Bank of Canada lowered their target price on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research note on Friday, July 12th. TD Cowen lowered their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. StockNews.com cut PepsiCo from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Barclays boosted their price target on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target 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.