HBK Sorce Advisory LLC Trims Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

HBK Sorce Advisory LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 2.3% in the 2nd quarter, Holdings Channel reports. The fund owned 25,958 shares of the company’s stock after selling 611 shares during the period. HBK Sorce Advisory LLC’s holdings in PepsiCo were worth $4,281,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Valued Wealth Advisors LLC boosted its holdings in 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 buying an additional 69 shares in the last quarter. POM Investment Strategies LLC raised its holdings in PepsiCo by 141.3% in 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 PepsiCo during the second quarter worth approximately $30,000. Fortis Group Advisors LLC increased its position in shares of PepsiCo by 100.0% in the fourth quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after buying an additional 97 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of PepsiCo during the 1st quarter worth approximately $35,000. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Stock Performance

Shares of PepsiCo stock opened at $177.25 on Friday. The business’s fifty day simple moving average is $172.11 and its 200-day simple moving average is $171.37. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The firm has a market cap of $243.47 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 3.03 and a beta of 0.53. PepsiCo, Inc. has a 52 week low of $155.83 and a 52 week high of $183.41.

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

PepsiCo Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a dividend of $1.355 per share. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.06%. PepsiCo’s dividend payout ratio is currently 78.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PEP shares. StockNews.com upgraded shares of PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Royal Bank of Canada decreased their price target 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. Morgan Stanley reduced their target price on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Bank of America dropped their price target on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Finally, DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 target price on the stock. in a research note on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, PepsiCo has an average rating of “Moderate Buy” and a consensus 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.