Brookstone Capital Management Sells 5,924 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Brookstone Capital Management decreased its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 17.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,724 shares of the company’s stock after selling 5,924 shares during the quarter. Brookstone Capital Management’s holdings in PepsiCo were worth $4,880,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PEP. Strategy Asset Managers LLC boosted its stake in shares of PepsiCo by 0.9% in the 1st quarter. Strategy Asset Managers LLC now owns 6,632 shares of the company’s stock worth $1,161,000 after buying an additional 57 shares during the last quarter. SYM FINANCIAL Corp boosted its position in PepsiCo by 2.7% in the fourth quarter. SYM FINANCIAL Corp now owns 2,290 shares of the company’s stock worth $389,000 after purchasing an additional 61 shares during the last quarter. Clearwater Capital Advisors LLC grew its stake in PepsiCo by 2.3% in the 4th quarter. Clearwater Capital Advisors LLC now owns 2,758 shares of the company’s stock valued at $468,000 after purchasing an additional 61 shares during the period. Security Financial Services INC. increased its position in shares of PepsiCo by 1.6% during the 1st quarter. Security Financial Services INC. now owns 3,943 shares of the company’s stock valued at $690,000 after purchasing an additional 61 shares during the last quarter. Finally, Arbor Investment Advisors LLC boosted its holdings in shares of PepsiCo by 3.6% in the 1st quarter. Arbor Investment Advisors LLC now owns 1,779 shares of the company’s stock worth $311,000 after buying an additional 61 shares during the last quarter. Institutional investors own 73.07% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. TD Cowen lowered their price objective 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. Jefferies Financial Group dropped their price objective on PepsiCo from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. Bank of America decreased their target price on PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Barclays increased their price target on PepsiCo from $179.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, BNP Paribas began coverage on PepsiCo in a research note on Monday, June 24th. They issued a “neutral” rating and a $174.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Price Performance

NASDAQ PEP traded up $0.10 on Friday, hitting $172.62. The stock had a trading volume of 4,614,804 shares, compared to its average volume of 5,492,265. The firm has a 50-day moving average of $168.09 and a 200-day moving average of $170.52. The company has a market capitalization of $237.32 billion, a price-to-earnings ratio of 25.05, a price-to-earnings-growth ratio of 2.98 and a beta of 0.52. 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 52-week low of $155.83 and a 52-week high of $183.41.

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, beating 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 return on equity of 57.37% and a net margin of 10.34%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $2.09 earnings per share. Equities analysts expect that PepsiCo, Inc. will post 8.15 EPS for the current year.

PepsiCo Dividend Announcement

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 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 yield of 3.14%. PepsiCo’s payout ratio is presently 78.66%.

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.