Victory Capital Management Inc. Lowers Stock Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Victory Capital Management Inc. lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,326,959 shares of the company’s stock after selling 81,037 shares during the quarter. Victory Capital Management Inc. owned about 0.17% of PepsiCo worth $383,785,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Valued Wealth Advisors LLC increased its stake in shares of PepsiCo by 77.5% during the first quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 69 shares during the period. POM Investment Strategies LLC increased its position in 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 during the period. Summit Securities Group LLC purchased a new position in shares of PepsiCo during the 2nd quarter worth approximately $30,000. Fortis Group Advisors LLC lifted its holdings in shares of PepsiCo by 100.0% in the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in shares of PepsiCo in the first quarter valued at approximately $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on PEP. TD Cowen decreased their target price on shares of PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. Morgan Stanley decreased their price objective on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. Barclays increased their target price on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, July 19th. BNP Paribas assumed coverage on PepsiCo in a research note on Monday, June 24th. They set a “neutral” rating and a $174.00 price target on the stock. Finally, Bank of America dropped their price objective on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research note on Monday, July 8th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Stock Performance

Shares of PEP opened at $179.30 on Friday. The company has a market capitalization of $246.28 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 2.98 and a beta of 0.53. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. PepsiCo, Inc. has a 1 year low of $155.83 and a 1 year high of $183.41. The company’s 50 day simple moving average is $170.71 and its 200 day simple moving average is $171.06.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data on Thursday, July 11th. The company reported $2.28 earnings per share (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 analysts’ expectations of $22.59 billion. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The business’s revenue was up .8% on a year-over-year basis. During the same quarter last year, the firm earned $2.09 earnings per share. On average, sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 dividend on an annualized basis and a dividend yield of 3.02%. PepsiCo’s dividend payout ratio (DPR) is presently 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.