Graypoint LLC Has $1.66 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Graypoint LLC cut its position in PepsiCo, Inc. (NASDAQ:PEP) by 14.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,081 shares of the company’s stock after selling 1,643 shares during the quarter. Graypoint LLC’s holdings in PepsiCo were worth $1,663,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Valued Wealth Advisors LLC raised its position in PepsiCo by 77.5% during the 1st 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 last quarter. POM Investment Strategies LLC raised its position in shares of PepsiCo by 141.3% during the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock worth $30,000 after acquiring an additional 106 shares during the last quarter. Summit Securities Group LLC bought a new stake in PepsiCo in the second quarter valued at approximately $30,000. Fortis Group Advisors LLC increased its position in PepsiCo by 100.0% during the 4th quarter. Fortis Group Advisors LLC now owns 194 shares of the company’s stock valued at $33,000 after purchasing an additional 97 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new position in shares of PepsiCo in the 1st quarter worth approximately $35,000. 73.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered their target price on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Barclays upped their target price on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Jefferies Financial Group lowered their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. Royal Bank of Canada reduced their price objective on shares of PepsiCo from $180.00 to $177.00 and set a “sector perform” rating for the company in a research report on Friday, July 12th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $185.53.

PepsiCo Stock Performance

PepsiCo stock traded up $0.79 during mid-day trading on Friday, reaching $172.88. The company’s stock had a trading volume of 8,677,312 shares, compared to its average volume of 4,770,495. The company has a market capitalization of $237.46 billion, a P/E ratio of 25.09, a PEG ratio of 2.99 and a beta of 0.52. The firm’s fifty day moving average price is $169.92 and its two-hundred day moving average price is $170.81. PepsiCo, Inc. has a 12-month low of $155.83 and a 12-month 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.

PepsiCo (NASDAQ:PEP) last announced its quarterly earnings results on Thursday, July 11th. The company reported $2.28 earnings per share for the quarter, beating the consensus estimate of $2.16 by $0.12. The firm 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 company’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $2.09 earnings per share. Sell-side analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm 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 $1.355 dividend. The ex-dividend date is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a yield of 3.14%. PepsiCo’s dividend payout ratio is currently 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.