Gries Financial LLC Has $2.34 Million Stake in PepsiCo, Inc. (NASDAQ:PEP)

Gries Financial LLC reduced its position in shares of PepsiCo, Inc. (NASDAQ:PEP) by 3.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,183 shares of the company’s stock after selling 502 shares during the period. Gries Financial LLC’s holdings in PepsiCo were worth $2,339,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. increased its position in shares of PepsiCo by 23.4% during the 4th quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock worth $1,014,000 after purchasing an additional 1,133 shares during the last quarter. Aveo Capital Partners LLC lifted its stake in PepsiCo by 4.4% in the 4th quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock valued at $931,000 after purchasing an additional 229 shares during the last quarter. 9258 Wealth Management LLC grew its holdings in PepsiCo by 56.0% during the fourth quarter. 9258 Wealth Management LLC now owns 8,281 shares of the company’s stock worth $1,407,000 after purchasing an additional 2,974 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in PepsiCo by 15.5% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 15,598 shares of the company’s stock worth $2,649,000 after buying an additional 2,098 shares during the last quarter. Finally, Peddock Capital Advisors LLC raised its stake in PepsiCo by 7.0% in the fourth quarter. Peddock Capital Advisors LLC now owns 1,522 shares of the company’s stock valued at $258,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 73.07% of the company’s stock.

PepsiCo Trading Up 0.7 %

NASDAQ PEP traded up $1.17 on Wednesday, hitting $178.71. The company’s stock had a trading volume of 1,922,060 shares, compared to its average volume of 5,440,602. The firm has a market cap of $245.69 billion, a PE ratio of 25.94, a PEG ratio of 2.99 and a beta of 0.52. The company’s 50-day moving average is $170.22 and its 200 day moving average is $170.95. 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, Inc. has a 1-year low of $155.83 and a 1-year high of $183.41.

PepsiCo (NASDAQ:PEP) last announced its earnings results on Thursday, July 11th. The company reported $2.28 EPS for the quarter, topping the consensus estimate of $2.16 by $0.12. PepsiCo had a return on equity of 57.37% and a net margin of 10.34%. The firm had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same period in the previous year, the business earned $2.09 EPS. The business’s quarterly revenue was up .8% compared to the same quarter last year. As a group, analysts predict that PepsiCo, Inc. will post 8.15 earnings per share for the current fiscal year.

PepsiCo Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 6th will be given a $1.355 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $5.42 dividend on an annualized basis and a dividend yield of 3.03%. PepsiCo’s dividend payout ratio (DPR) is currently 78.66%.

Analyst Ratings Changes

Several equities analysts recently commented on PEP shares. JPMorgan Chase & Co. decreased their price target on shares of PepsiCo from $184.00 to $182.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Royal Bank of Canada dropped their price target 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. Wells Fargo & Company cut their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. 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. Finally, StockNews.com upgraded PepsiCo from a “hold” rating to a “buy” rating in a research report on Wednesday, August 28th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $185.53.

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.