Hodges Capital Management Inc. Has $3.69 Million Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

Hodges Capital Management Inc. trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 7.4% in the second quarter, HoldingsChannel.com reports. The firm owned 22,351 shares of the company’s stock after selling 1,787 shares during the period. Hodges Capital Management Inc.’s holdings in PepsiCo were worth $3,686,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PEP. Valued Wealth Advisors LLC grew 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 during the period. POM Investment Strategies LLC boosted its position in shares of PepsiCo by 141.3% during the 2nd quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after purchasing an additional 106 shares in the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo in the 2nd quarter valued at about $30,000. Fortis Group Advisors LLC raised its stake in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock worth $33,000 after buying an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in PepsiCo in the first quarter valued at approximately $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEP has been the subject of several research reports. Morgan Stanley reduced their price target on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Barclays upped their target price on shares of PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Bank of America cut their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. TD Cowen reduced their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research note on Wednesday, August 28th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Stock Up 0.7 %

Shares of PepsiCo stock traded up $1.33 during trading on Wednesday, hitting $178.87. The company’s stock had a trading volume of 530,966 shares, compared to its average volume of 5,433,539. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week 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 fifty day simple moving average of $170.22 and a two-hundred day simple moving average of $170.95. The company has a market capitalization of $245.91 billion, a PE ratio of 25.77, a P/E/G ratio of 2.99 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last released its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. The business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The company’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.09 earnings per share. Equities research analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current year.

PepsiCo Announces Dividend

The business 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. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.03%. PepsiCo’s dividend payout ratio is presently 78.66%.

PepsiCo 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.