Mycio Wealth Partners LLC cut its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 24.8% in the second quarter, Holdings Channel reports. The firm owned 2,851 shares of the company’s stock after selling 941 shares during the quarter. Mycio Wealth Partners LLC’s holdings in PepsiCo were worth $374,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Personal Wealth Partners bought a new stake in shares of PepsiCo in the second quarter valued at about $25,000. Evolution Wealth Advisors LLC bought a new stake in shares of PepsiCo in the second quarter valued at about $27,000. Financial Advantage Inc. bought a new stake in shares of PepsiCo in the second quarter valued at about $28,000. 1 North Wealth Services LLC bought a new stake in shares of PepsiCo in the fourth quarter valued at about $39,000. Finally, Financial Gravity Companies Inc. bought a new stake in shares of PepsiCo in the fourth quarter valued at about $41,000. 71.83% of the stock is owned by institutional investors and hedge funds.
In other news, CEO Steven C. Williams sold 2,420 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $133.95, for a total value of $324,159.00. Following the transaction, the chief executive officer now owns 54,920 shares of the company’s stock, valued at $7,356,534. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kirk Tanner sold 9,573 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $128.15, for a total value of $1,226,779.95. Following the completion of the transaction, the chief executive officer now directly owns 105,350 shares in the company, valued at approximately $13,500,602.50. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by corporate insiders.
NASDAQ:PEP traded down $0.54 on Thursday, hitting $131.80. The company’s stock had a trading volume of 58,675 shares, compared to its average volume of 4,560,547. The company has a current ratio of 0.86, a quick ratio of 0.66 and a debt-to-equity ratio of 1.97. The stock has a fifty day moving average of $130.86 and a two-hundred day moving average of $125.56. The firm has a market capitalization of $185.36 billion, a P/E ratio of 23.32, a price-to-earnings-growth ratio of 3.44 and a beta of 0.60. PepsiCo, Inc. has a one year low of $104.53 and a one year high of $135.24.
PepsiCo (NASDAQ:PEP) last released its quarterly earnings data on Tuesday, July 9th. The company reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.05. PepsiCo had a return on equity of 59.50% and a net margin of 19.59%. The firm had revenue of $16.45 billion for the quarter, compared to analyst estimates of $16.44 billion. During the same quarter in the prior year, the company earned $1.61 earnings per share. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that PepsiCo, Inc. will post 5.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $0.955 dividend. This represents a $3.82 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Thursday, September 5th. PepsiCo’s payout ratio is 67.49%.
PEP has been the topic of several analyst reports. Wells Fargo & Co upped their target price on PepsiCo from $120.00 to $127.00 and gave the stock a “positive” rating in a report on Tuesday, May 14th. Argus reiterated a “buy” rating on shares of PepsiCo in a report on Thursday, July 11th. ValuEngine lowered PepsiCo from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. SunTrust Banks reiterated a “hold” rating and set a $125.00 target price on shares of PepsiCo in a report on Wednesday, July 10th. Finally, BMO Capital Markets reiterated an “average” rating and set a $128.00 target price on shares of PepsiCo in a report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. PepsiCo currently has a consensus rating of “Hold” and a consensus price target of $129.35.
PepsiCo Company Profile
PepsiCo, Inc operates as a food and beverage company worldwide. The company's Frito-Lay North America segment offers branded dips; Cheetos cheese-flavored snacks; and Doritos tortilla, Fritos corn, Lay's potato, Ruffles potato, and Tostitos tortilla chips. Its Quaker Foods North America segment provides cereals, rice, pasta, mixes and syrups, granola bars, grits, oat squares, oatmeal, rice cakes, simply granola, and side dishes under the Aunt Jemima, Cap'n crunch, Life, Quaker Chewy, Quaker, and Rice-A-Roni brands.
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