PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by CarsonAllaria Wealth Management Ltd.

CarsonAllaria Wealth Management Ltd. cut its stake in PepsiCo, Inc. (NASDAQ:PEP) by 18.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 607 shares of the company’s stock after selling 140 shares during the period. CarsonAllaria Wealth Management Ltd.’s holdings in PepsiCo were worth $100,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PEP. Charles Schwab Investment Management Inc. increased its stake in PepsiCo by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 19,001,928 shares of the company’s stock valued at $3,227,287,000 after purchasing an additional 578,083 shares during the last quarter. Norges Bank bought a new position in shares of PepsiCo during the fourth quarter worth about $2,686,139,000. California Public Employees Retirement System grew its position in shares of PepsiCo by 17.9% during the fourth quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after acquiring an additional 1,470,064 shares during the last quarter. Franklin Resources Inc. grew its position in shares of PepsiCo by 17.7% during the fourth quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after acquiring an additional 1,345,065 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of PepsiCo by 15.1% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 8,421,163 shares of the company’s stock worth $1,430,250,000 after acquiring an additional 1,105,127 shares during the last quarter. 73.07% of the stock is owned by institutional investors and hedge funds.

PepsiCo Price Performance

PEP traded up $2.03 on Tuesday, hitting $175.85. 5,327,154 shares of the stock were exchanged, compared to its average volume of 5,478,772. PepsiCo, Inc. has a 12 month low of $155.83 and a 12 month high of $183.41. The business has a 50-day moving average of $168.46 and a two-hundred day moving average of $170.59. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.83 and a quick ratio of 0.64. The firm has a market capitalization of $241.54 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 3.00 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last posted its quarterly earnings data 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 business had revenue of $22.50 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $2.09 earnings per share. Sell-side analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid a $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 annualized dividend and a dividend yield of 3.08%. PepsiCo’s dividend payout ratio is 78.66%.

Analyst Ratings Changes

Several research firms have issued reports on PEP. TD Cowen cut their price objective on PepsiCo from $200.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. DZ Bank cut shares of PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective on the stock. in a research report on Friday, July 19th. StockNews.com lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Tuesday. Wedbush reiterated an “outperform” rating and set a $195.00 price target on shares of PepsiCo in a report on Tuesday, April 23rd. Finally, Morgan Stanley reduced their price objective on PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average 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.