Main Street Group LTD Sells 76 Shares of PepsiCo, Inc. (NASDAQ:PEP)

Main Street Group LTD trimmed its stake in PepsiCo, Inc. (NASDAQ:PEP) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,345 shares of the company’s stock after selling 76 shares during the period. Main Street Group LTD’s holdings in PepsiCo were worth $708,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PEP. Gilbert & Cook Inc. boosted its holdings in shares of PepsiCo by 23.4% in the 4th quarter. Gilbert & Cook Inc. now owns 5,971 shares of the company’s stock worth $1,014,000 after acquiring an additional 1,133 shares in the last quarter. Aveo Capital Partners LLC boosted its stake in PepsiCo by 4.4% in the fourth quarter. Aveo Capital Partners LLC now owns 5,480 shares of the company’s stock worth $931,000 after purchasing an additional 229 shares in the last quarter. 9258 Wealth Management LLC grew its holdings in shares of 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 last quarter. Gryphon Financial Partners LLC raised its holdings in shares of PepsiCo by 81.3% in the fourth quarter. Gryphon Financial Partners LLC now owns 8,105 shares of the company’s stock valued at $1,357,000 after buying an additional 3,635 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in PepsiCo by 3.0% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 28,767 shares of the company’s stock worth $4,886,000 after buying an additional 833 shares in the last quarter. 73.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PEP has been the subject of a number of research analyst reports. Morgan Stanley dropped their target price on shares of PepsiCo from $190.00 to $185.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. StockNews.com raised PepsiCo from a “hold” rating to a “buy” rating in a report on Wednesday, August 28th. Jefferies Financial Group lowered their target price on PepsiCo from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Wells Fargo & Company cut their price target on PepsiCo from $175.00 to $170.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. dropped their price objective on PepsiCo from $184.00 to $182.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Seven investment 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 company presently has an average rating of “Moderate Buy” and a consensus price target of $185.53.

PepsiCo Trading Down 0.3 %

NASDAQ:PEP traded down $0.60 during trading hours on Friday, hitting $177.34. The stock had a trading volume of 6,395,276 shares, compared to its average volume of 5,471,998. The business’s 50 day moving average is $170.96 and its 200-day moving average is $171.13. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.64 and a current ratio of 0.83. The company has a market cap of $243.59 billion, a price-to-earnings ratio of 25.74, a P/E/G ratio of 2.98 and a beta of 0.53. PepsiCo, Inc. has a one year low of $155.83 and a one year high of $183.41.

PepsiCo (NASDAQ:PEP) last issued its quarterly earnings data 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 business had revenue of $22.50 billion for the quarter, compared to the consensus estimate of $22.59 billion. During the same quarter last year, the business posted $2.09 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Sell-side analysts anticipate that PepsiCo, Inc. will post 8.15 EPS for the current fiscal year.

PepsiCo Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 6th will be paid 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 3.06%. PepsiCo’s payout ratio is 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.