Smithbridge Asset Management Inc. DE Decreases Holdings in PepsiCo, Inc. (NASDAQ:PEP)

Smithbridge Asset Management Inc. DE lessened its stake in shares of PepsiCo, Inc. (NASDAQ:PEP) by 11.0% in the 2nd quarter, Holdings Channel reports. The firm owned 22,575 shares of the company’s stock after selling 2,782 shares during the period. Smithbridge Asset Management Inc. DE’s holdings in PepsiCo were worth $3,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tennessee Valley Asset Management Partners boosted its stake in PepsiCo by 7.9% during the 4th quarter. Tennessee Valley Asset Management Partners now owns 2,307 shares of the company’s stock worth $392,000 after purchasing an additional 169 shares during the last quarter. Rakuten Securities Inc. acquired a new position in PepsiCo during the fourth quarter worth about $113,000. Wright Investors Service Inc. purchased a new stake in PepsiCo during the 4th quarter valued at about $2,241,000. Twin Capital Management Inc. raised its holdings in PepsiCo by 50.4% in the 4th quarter. Twin Capital Management Inc. now owns 30,555 shares of the company’s stock valued at $5,189,000 after acquiring an additional 10,237 shares during the last quarter. Finally, Ninety One UK Ltd lifted its stake in PepsiCo by 0.8% in the 4th quarter. Ninety One UK Ltd now owns 260,498 shares of the company’s stock worth $44,243,000 after purchasing an additional 2,130 shares in the last quarter. 73.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PEP has been the subject of a number of analyst reports. DZ Bank lowered PepsiCo from a “buy” rating to a “hold” rating and set a $183.00 price target for the company. in a research report on Friday, July 19th. JPMorgan Chase & Co. dropped their target price on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. StockNews.com raised shares of PepsiCo from a “hold” rating to a “buy” rating in a report on Monday, August 12th. Morgan Stanley reduced their target price on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Finally, Barclays increased their price target on shares of PepsiCo from $179.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $185.53.

PepsiCo Trading Up 0.1 %

NASDAQ:PEP traded up $0.10 during trading hours on Friday, reaching $172.62. 4,614,804 shares of the stock were exchanged, compared to its average volume of 5,307,452. PepsiCo, Inc. has a twelve month low of $155.83 and a twelve month high of $183.41. The company has a quick ratio of 0.64, a current ratio of 0.83 and a debt-to-equity ratio of 1.87. The business has a 50-day moving average of $168.09 and a two-hundred day moving average of $170.52. The company has a market capitalization of $237.11 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 3.00 and a beta of 0.52.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $0.12. The company had revenue of $22.50 billion during 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%. PepsiCo’s revenue for the quarter was up .8% on a year-over-year basis. During the same period last year, the business posted $2.09 EPS. On average, equities analysts predict that PepsiCo, Inc. will post 8.15 EPS for the current 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 issued a dividend of $1.355 per share. 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 (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.