PepsiCo, Inc. (NASDAQ:PEP) Shares Sold by Birchcreek Wealth Management LLC

Birchcreek Wealth Management LLC reduced its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 9.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,404 shares of the company’s stock after selling 366 shares during the quarter. Birchcreek Wealth Management LLC’s holdings in PepsiCo were worth $561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in PEP. Valued Wealth Advisors LLC grew its stake in PepsiCo by 77.5% in the 1st quarter. Valued Wealth Advisors LLC now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 69 shares during the last quarter. POM Investment Strategies LLC grew its position in shares of PepsiCo by 141.3% in the second quarter. POM Investment Strategies LLC now owns 181 shares of the company’s stock valued at $30,000 after purchasing an additional 106 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of PepsiCo during the 2nd quarter worth approximately $30,000. Fortis Group Advisors LLC lifted its stake in 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 in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in PepsiCo during the first quarter worth $35,000. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Bank of America lowered their price target on shares of PepsiCo from $210.00 to $190.00 and set a “buy” rating for the company in a report on Monday, July 8th. Barclays boosted their price target on PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, July 19th. DZ Bank downgraded PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price objective for the company. in a research report on Friday, July 19th. StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Finally, JPMorgan Chase & Co. lowered their price target on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $185.53.

PepsiCo Price Performance

PEP opened at $178.52 on Thursday. PepsiCo, Inc. has a 52-week low of $155.83 and a 52-week high of $183.41. The company has a 50 day moving average of $170.45 and a two-hundred day moving average of $171.00. The company has a market cap of $245.21 billion, a P/E ratio of 25.91, a P/E/G ratio of 2.98 and a beta of 0.53. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87.

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

PepsiCo Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be given a dividend of $1.355 per share. This represents a $5.42 annualized dividend and a yield of 3.04%. The ex-dividend date is Friday, September 6th. 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.