PepsiCo, Inc. (NASDAQ:PEP) Stake Decreased by Sky Investment Group LLC

Sky Investment Group LLC decreased its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 0.5% during the second quarter, according to its most recent filing with the SEC. The firm owned 74,268 shares of the company’s stock after selling 364 shares during the period. PepsiCo comprises about 2.3% of Sky Investment Group LLC’s holdings, making the stock its 4th largest holding. Sky Investment Group LLC’s holdings in PepsiCo were worth $12,249,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PEP. Norges Bank purchased a new position in shares of PepsiCo during the 4th quarter worth approximately $2,686,139,000. Flossbach Von Storch AG boosted its position in shares of PepsiCo by 67.2% in the 1st quarter. Flossbach Von Storch AG now owns 4,560,007 shares of the company’s stock worth $798,047,000 after purchasing an additional 1,832,385 shares in the last quarter. PineStone Asset Management Inc. boosted its position in shares of PepsiCo by 125.2% in the 2nd quarter. PineStone Asset Management Inc. now owns 2,740,573 shares of the company’s stock worth $452,003,000 after purchasing an additional 1,523,631 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of PepsiCo by 17.9% in the 4th quarter. California Public Employees Retirement System now owns 9,664,323 shares of the company’s stock worth $1,641,389,000 after purchasing an additional 1,470,064 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of PepsiCo by 17.7% in the 4th quarter. Franklin Resources Inc. now owns 8,954,951 shares of the company’s stock worth $1,520,909,000 after purchasing an additional 1,345,065 shares in the last quarter. Hedge funds and other institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of NASDAQ PEP traded up $1.34 during midday trading on Wednesday, hitting $173.71. 3,352,255 shares of the stock traded hands, compared to its average volume of 5,579,022. The firm has a 50-day moving average of $168.06 and a two-hundred day moving average of $170.45. The firm has a market capitalization of $238.60 billion, a P/E ratio of 25.21, a PEG 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 one year low of $155.83 and a one year high of $183.46.

PepsiCo (NASDAQ:PEP) last released 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.09 EPS. On average, equities analysts forecast that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders 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 3.12%. PepsiCo’s dividend payout ratio (DPR) is 78.66%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PEP shares. BNP Paribas started coverage on PepsiCo in a research report on Monday, June 24th. They issued a “neutral” rating and a $174.00 price target on the stock. Royal Bank of Canada dropped their price target on PepsiCo from $180.00 to $177.00 and set a “sector perform” rating on the stock in a research report on Friday, July 12th. Morgan Stanley lowered their price objective on PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. DZ Bank cut 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. Finally, StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a research report on Monday. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price 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.